70 Heminway Park Rd Watertown, CT 06795-2612
- Showrooms
- 4,140 SF
- 0.31 lot acres
Current Use by Public Records
- Elisha Danzig, DO / Medical Clinic
- Watertown Internal Medicine / Internist
- Saint Mary's Blood Draw Services - Watertown / Blood Testing Service
- Sallie Carrington, DO / Internist
- Adriana Ghisa, MD / Internist
Property Details for 70 Heminway Park Rd
- Year built
- 1955
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.31 lot acres
- Property size
- 4,140 SF
- Zone code
- BC
- Property type
- Showrooms
- APN
- WTWN M:100 B:47 L:3A
- APU
- WTWNM100B47L3A
Description
This exceptional investment opportunity presents a 4,140 square foot, single-story brick medical office building located at 70 Heminway Park Road, Watertown, CT 06795. Built in 1955 and situated on a 0.31-acre lot, the property boasts 19 parking spaces. The building has undergone recent renovations, including a new HVAC system, roof, front façade, and reception/waiting area. Currently leased to St. Mary's Hospital under a triple-net (NNN) lease for the past 13 years, this hands-off investment offers significant advantages. The tenant is responsible for all utilities, taxes, insurance, snow removal, landscaping, trash, and HVAC maintenance. The Watertown, CT office market is characterized by a low 2.8% vacancy rate (2.8% lower than the previous year), a total inventory of 220,000 square feet, and rising rental and cap rates. Conveniently located downtown, the property offers easy access to major roadways (US 6 and James H Darcey Memorial Highway) and is less than an hour from Hartford and New Haven. The area features a vibrant downtown with national retailers (Walgreens, Starbucks, Dunkin', Marshalls, etc.), excellent schools, and abundant outdoor recreational opportunities. This presents a stable, income-producing asset in a desirable and accessible location. Property tours are available by appointment only.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $425,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $570,000
- 6.5%
- $570,000
- 7%
- $545,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $590,000
- Geo Method
- $505,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $605,000
- Retail
- $585,000
- Mixed-Use
- $495,000
- Hospitality
- $580,000
- Educational
- $435,000
- Residential Income
- $545,000
- Energy
- $525,000
- Income-Based Land
- $580,000
- Food Service
- $560,000
Location Insight
- Map
- Local Demand
- City
- Watertown
- County
- Litchfield
- State
- Connecticut
- Longitude
- -73.1162
- Latitude
- 41.6037
- CBSA code
- 45860
- CBSA name
- TORRINGTON, CT MICROPOLITAN STATISTICAL AREA
