Property profile

723 Farmington Ave New Britain, CT 06053

FOR LEASE
Industrial properties
Property ID
US15-0317891
25.69 ac lot
Individually Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 4-acre commercial lot presents a remarkable investment opportunity in New Britain, Connecticut. Ideally situated adjacent to a school and a newly constructed gas station, this property enjoys exceptional visibility with a daily traffic count exceeding 9,300 vehicles. The lot features 200 feet of frontage, providing ample space for development. Zoned for commercial use, this single-tenant property offers the potential for a long-term lease, possibly extending up to 100 years. Its strategic location near the Farmington town line and convenient access to Highway 84 ensures unparalleled connectivity. The high traffic volume, coupled with the proximity to a school and established retail, makes this site exceptionally attractive for a variety of developments. Consideration could include, but is not limited to, apartment buildings, senior housing, or a mixed-use project. This location is poised to generate strong rental income due to the high demand in the area. Don't miss this chance to acquire a prime commercial parcel in a thriving location. The total number of parking spaces is to be determined. Hartford County zoning applies.

Property profile

Verified
Property type Industrial properties
Use group MIXED USE (COMMERCIAL/INDUSTRIAL)
Lot 25.69 ac (1,119,057 SF)
Zoning code T
APN NBRI M:C3A B:1
UPID US15-0317891

Cap rate & NOI

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

Location

723 Farmington Ave New Britain, CT 06053
New Britain metro Census 417500 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$295k

Owner & transaction history

since 2019
1 recorded transaction
2019
Price N/A

Zoning & alternative use

T · New Britain, CT
Zoning description

I-3 zones. [Full text of amendments on file in the Clerk's office] 10/24/82 15290 Amendment to allow conversion of two-family detached dwelling (attic space) to three-family detached dwelling by special exception in the…

General category UNKNOWN

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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