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Property profile & analytics
OFF-MARKET
Office Spaces

50 Progress Cir Ste 1b Newington, CT 06111-5547

1,600 SF Built 1990
Individually Owned 11-yr Hold Free & Clear
Property ID
US15-0817292
Property summary
AI-generated overview

This exceptional 1600-square-foot commercial condo unit at 50 Progress Circle, Unit 7A, Newington, CT, presents a unique investment opportunity. Currently thriving as an established event venue, this versatile space offers immediate income potential and significant flexibility for future use. The property boasts updated porcelain flooring throughout, a well-appointed kitchen area, and two modern bathrooms. Recessed lighting and two elegant chandeliers create a sophisticated ambiance, perfect for both events and professional office settings. The roof was recently replaced in 2020, ensuring long-term peace of mind. Its convenient location offers seconds of access to the Berlin Turnpike and major highways, providing excellent visibility and accessibility for clients and employees alike. The sale includes the existing business, offering a turnkey operation for a new owner. This is an exceptional opportunity to acquire a profitable, well-maintained commercial property in a prime location with immediate income potential and the adaptability to suit a variety of business needs. The property is a general commercial condo, situated on a 0-acre lot. The asking price is $299,800.

Property profile
Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 1990
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,600 SF
Zoning code PD
APN NEWI M:31 B:25 L:1B
UPID US15-0817292
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
  • Newington Elementary Childrens Daycare Center
  • The Mead Agency, LLC Landscaping General Contractor
  • Allied Machining Co., Inc. Industrial Manufacturer
  • Luxe Event Venue Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
NEWINGTON ELEM CHILDRENS
NEWINGTON ELEM CHILDRENS
Zoning & alternative use
PD · Newington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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