389 John Downey Dr New Britain, CT 06051
- Industrial properties
- 32,520 SF
- 2.13 lot acres
Current Use by Public Records
- Hartford HealthCare Systems Support Office / Corporate Office
Property Details for 389 John Downey Dr
- Year built
- 1972
- Construction
- STEEL FRAME
- Lot size
- 2.13 lot acres
- Property size
- 32,520 SF
- Zone code
- I1
- Property type
- Industrial properties
- APN
- NBRI M:A9B B:3
- APU
- NBRIMA9BB3
Description
This exceptional 33,276-square-foot flex building, situated on a 2.13-acre lot in New Britain, Connecticut, presents a compelling investment opportunity. The property, located at 389 John Downey Drive, boasts a desirable I1 zoning designation and is currently vacant, offering immediate occupancy starting October 12, 2023. The two-story building features 26,792 square feet on the ground floor and 6,480 square feet on the second, equipped with substantial power (600 amp, 480 volt). The asking price is $2,500,000, translating to $75.13 per square foot. Ample parking is available with 50 spaces, complemented by prominent monument and on-building signage opportunities. The property benefits from high visibility, situated near Route 9, Exit 34, with a daily traffic count of 5,800 vehicles. Built in 1972, this building offers a 14-foot ceiling height and is offered as an owner/user opportunity with a NNN lease type. This prime location and versatile space make it ideal for a variety of industrial and flex uses. The property is ready for immediate occupancy and presents a strong return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $725,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,045,000
- 6.5%
- $980,000
- 7%
- $1,075,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $850,000
- Geo Method
- $975,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $925,000
- Retail
- $870,000
- Mixed-Use
- $970,000
- Hospitality
- $1,105,000
- Educational
- $1,015,000
- Residential Income
- $830,000
- Energy
- $940,000
- Income-Based Land
- $885,000
- Food Service
- $1,055,000
Location Insight
- Map
- Local Demand
- City
- New Britain
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.7544
- Latitude
- 41.6646
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
