219 Service Rd Hartford, CT 06120
- Commercial land
- 0.21 lot acres
Current Use by Public Records
- Commercial land
Property Details for 219 Service Rd
- Lot size
- 0.21 lot acres
- Zone code
- ROW
- Property type
- Commercial land
- APN
- HTFD M:306 B:075 L:016
- APU
- HTFDM306B075L016
Description
This exceptional investment opportunity presents a 425,294-square-foot warehouse located at 219 & 239 West Service Road in Hartford, Connecticut. The property boasts a 6.50% cap rate and a substantial net operating income (NOI) of $2,326,350. Currently operating under a single-tenant, absolute NNN lease with a credit tenant, the lease commenced December 1, 2010, and has a remaining term of 10 years, with two 10-year renewal options extending to November 30, 2054. The building, constructed in 1964 and renovated in 1987 and 2009, features a two-story structure with a 36-foot warehouse clear height, situated on a 25.99-acre lot (APN: 305-075-077). The property is zoned ID-1 Industrial and offers below-market rents, making it a highly attractive investment. The offering presents two investment possibilities: a traditional single-tenant net-leased income stream or a zero cash flow investment with assumable financing and a paydown readvance feature. This mission-critical facility, located in central Hartford, benefits from a recession-resistant business and significant tenant investment, representing a value well below replacement cost. The property's 100% occupancy since December 1, 2010, further underscores its stability and potential for long-term returns. The asking price is $35,790,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hartford
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.6562
- Latitude
- 41.7952
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
