4 Park StVernon, CT 06066

Property Details for 4 Park St

Year built

1967

Construction

STEEL FRAME

Lot size

0.90 AC

Property size (Sq ft)

19,090 SF

Zone code

28

Property type

Office properties

Property subtype

Office buildings

APN

VERN M:40 B:0110 L:00013

APU

VERNM40B0110L00013

Description

This three-story, 19,090 square foot mixed-use building presents a compelling value-add opportunity in downtown Vernon, Connecticut. Currently undergoing renovation, this property boasts a newly installed roof, a 1,200-amp underground service, a passenger elevator, and impressive 10.25'+ clear ceiling heights on all three floors. The building sits on a 0.9-acre lot, recently expanded to include an adjacent parcel, providing potential for additional parking or outdoor tenant space. Its DBR zoning allows for a wide range of uses, including retail, office, restaurant, medical, and clinic spaces. Strategically located near Rockville Superior Court and just one block from Rockville General Hospital, this property offers unparalleled convenience and visibility. Easy access to I-84 and Route 31 further enhances its appeal. The building comprises four units and was originally constructed in 1967. This is an exceptional chance to capitalize on the revitalization of downtown Rockville, a thriving area with strong potential for growth. The property's versatile zoning and prime location make it an ideal investment for owner-users seeking a unique redevelopment project.

• CAP approach

  CAP return

  Valuation

  6%

  $3,156,147

  6.5%

  $2,913,367

  7%

  $2,705,269

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,494,300

  Geo Method

  $2,494,300

• Alternative Use

  Use

  Valuation

  Residential

  $3,612,575

  Hospitality

  $3,309,099

  Educational

  $2,753,132

  Medical

  $2,847,816

  Retail

  $4,282,649

Location Insight

City

Vernon

County

Tolland

State

Connecticut

Latitude

41.8678

Longitude

-72.4475

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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