71 Utopia Rd Manchester, CT 06042-2192

Property Details for 71 Utopia Rd

Year built

1998

Construction

STEEL FRAME

Lot size

3.89 lot acres

Property size

56,250 SF

Zone code

IND

Property type

Industrial properties

APN

MANC M:89 B:5645 L:71

APU

MANCM89B5645L71

Description

This exceptional investment opportunity presents a 56,000-square-foot industrial property in Manchester, Connecticut. The property is currently 100% occupied under a single-tenant, triple-net (NNN) lease with Flex Ltd., a credit-rated tenant, with a remaining lease term of five years, plus a three-year option. The lease commenced September 1, 2024, and expires August 31, 2029, featuring a 2% annual rent increase. The asking price is $6,680,000, representing a 7.00% capitalization rate and a price per square foot of $119.29. The property, built in 1998 and renovated in 2010, sits on a 3.89-acre lot and includes one single-story building with four loading docks, 158 parking spaces, and a ceiling height ranging from 16 to 20 feet. The property is zoned IND and enjoys a prime location, just one mile from Interstate 84, providing easy access to major transportation routes, including Interstate 91, Massachusetts, and New York State. The property has a long operating history and benefits from its location in a thriving industrial area of Hartford County. The Net Operating Income (NOI) is $467,600. This is a rare opportunity to acquire a stable, high-performing industrial asset with a strong tenant and significant upside potential.

Location Insight

City

Manchester

County

Hartford

State

Connecticut

Longitude

-72.5105

Latitude

41.8014

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments