Property profile

125 Westbrook Rd Essex, CT 06426

OFF-MARKET
Commercial real estate
Property ID
US15-0514006
3.87 ac lot
Entity Owned 2-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional retail investment opportunity in Essex, CT, presents two distinct spaces within the Bokum Center: a 6,217 square foot end-cap retail space and a separate 2,800 square foot freestanding building, formerly a bank, complete with a drive-thru. The Bokum Center, a 42,719 square foot shopping center situated at 125 Westbrook Road, benefits from a high-traffic location at a signalized intersection, offering excellent visibility and proximity to Route 9 (approximately 1.1 miles). The property features two buildings, each single-story, totaling nine suites. Currently, 18,564 square feet are vacant, offering significant potential for expansion or redevelopment. The property boasts 147 parking spaces and is served by 400-amp, 3-phase power. Strong, long-term tenants include Walgreens, Subway, Essex Wine & Spirits, SNAP Fitness, Euro Cleaners, Hong Kong Kitchen, and a new DG Market. The minimum divisible space is 2,800 square feet, with a maximum contiguous space of 3,323 square feet. The property sits on 3.87 acres of land and was built in 1979. The zoning is classified as "C". This presents a unique chance to establish a supermarket presence in the town or secure a standalone retail/office building. The property's location and existing tenant mix provide a strong foundation for success. The total building comprises 42,719 square feet. Taxes are $46,590.52 per square foot.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 3.87 ac (168,577 SF)
APN ESSE M:67 B:002 L:01
UPID US15-0514006

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store
  • Restaurant
  • Grocery & Convenience Store Food Market
  • Pharmacy
  • Physician

Location

125 Westbrook Rd Essex, CT 06426-1521
Essex metro Census 630101 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$410k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$410k

Owner & transaction history

since 2023
3 recorded transactions
2023
Price N/A
1988
$3.0M
1987
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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