1144 Main St Torrington, CT 06790-3980

Property Details for 1144 Main St

Lot size

0.54 lot acres

Zone code

LB

Property type

Commercial real estate

APN

TORR M:133 B:010 L:011

APU

TORRM133B010L011

Description

This exceptional investment opportunity presents a 4,750 square foot medical office building in Torrington, Connecticut, situated on a 1.08-acre lot. The property boasts a strong 6.50% cap rate, generating a net operating income (NOI) of $84,665 annually. Currently 100% occupied by SightMD under a triple-net (NNN) lease with 6.7 years remaining until the lease expiration date of July 31, 2031, with a single 5-year renewal option. The lease commenced July 30, 2021, and includes annual rent increases of 2%, providing inflation-protected yields. The building, constructed in 1960 and renovated in 2017, offers a compelling value-add component with a portion of the building currently vacant (1,550 sq ft), presenting an opportunity for increased revenue. SightMD, a financially stable and expanding eyecare practice with over 60 locations in the Northeast, occupies 3,200 square feet. The property benefits from its location near a new Starbucks, enhancing visibility and traffic. The asking price is $1,302,538, translating to $274.22 per square foot. The property is located at 1144 E Main St, Torrington, CT 06790, within a thriving market with a strong demographic profile (92,072 individuals within a ten-mile radius, average household income exceeding $105,994). This offering presents a rare chance to acquire a stable, high-performing medical office investment with significant upside potential.

Location Insight

City

Torrington

County

Litchfield

State

Connecticut

Longitude

-73.0955

Latitude

41.8149

CBSA code

45860

CBSA name

TORRINGTON, CT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments