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Property profile & analytics
OFF-MARKET Estimated value $570,000
Office buildings

129 Ml St Berlin, CT 06037-2348

8,594 SF 0.98 ac lot Built 1960
Individually Owned 3-yr Hold Free & Clear
Property ID
US15-0576472
Property summary
AI-generated overview

This exceptional commercial ground lease opportunity presents a rare chance to acquire a strategically located 0.98-acre parcel in the heart of Berlin, Connecticut. Situated at 129 Mill Street, this property boasts a prime corner location at the intersection of Mill Street and Webster Square, benefiting from a traffic light and an impressive Annual Daily Traffic count of 21,300 vehicles. The existing building, constructed and renovated in 2023, offers a substantial 39,204 square feet of space, currently configured for restaurant and retail use under a single tenancy. The property is classified as Class A and zoned CCD-2 within Hartford County. This location offers unparalleled accessibility, with easy access to Route 9/Berlin Turnpike, ensuring high visibility and convenient access for customers and employees. The strong demographics of the area, coupled with a high barrier to entry, make this a truly exceptional investment opportunity. The annual ground lease income is $100,000. This property represents a significant opportunity for long-term growth and profitability in a thriving commercial market. The single-tenant occupancy simplifies management and minimizes vacancy risk. Don't miss this chance to secure a premier commercial property in a high-demand location.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1960
Construction FRAME
Total area 8,594 SF
Lot 0.98 ac (42,689 SF)
Zoning code CCD-2
APN BERL M:10-3 B:83BB L:1
UPID US15-0576472
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Johnson Legal Group Law Firm
  • Northeast Laboratories Inc Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$608k
Blend (final) Blend
$570k
Owner & transaction history
Tarek Almontaser · 3 yrs held
Tarek Almontaser
since 2022
3 recorded transactions
2022
$550,000
2013
$530,000
1997
$105,500
Zoning & alternative use
CCD-2 · Berlin, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zone name Commercial Core District 2
General category COMMERCIAL
Zone area 168.32 ac
Source Realmo
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