85 River Rd, Canton, CT 06019
- Industrial properties
- 7,886 SF
- 1.61 lot acres
Current Use by Public Records
- Grenier Consulting / Physician / Medical Clinic
- Cara S. Nguyen, PsyD / Physician / Medical Clinic
- Jill M. Hanson / Physician / Medical Clinic
- Cara Lattizori Nguyen, Psy.D., LLC / Physician / Medical Clinic
- Studio 85 Dance Center / Training Center
Property Details for 85 River Rd
- Year built
- 1988
- Construction
- FRAME
- Lot size
- 1.61 lot acres
- Zone code
- I
- Property type
- Industrial properties
- APN
- CANT M:30 B:449 L:0085
- APU
- CANTM30B449L0085
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 25, 2006 | $709,920 | Edinshall LLC | Jakubiak,donald L | Warranty Deed | $580k · Peoples Bank |
| Nov 5, 1993 | $550,000 | Donald Jakubiak | Mitchell,thomas | Grant Deed | $300k · Eagle Federal Savings Bank |
| Jul 1, 1991 | — | Thomas Mitchell | — | Deed Of Trust · related | $575k · United Bank & Trust Co |
| Aug 17, 1988 | — | Thomas Mitchell | — | Deed Of Trust · related | $650k · United Bank & Trust Co |
| Mar 31, 1988 | $250,000 | Thomas Mitchell | Bahre,henry | Grant Deed | $225k · United Bank & Trust Co |
Description
This 7,897 square foot retail property in Canton, CT, offers a compelling investment opportunity. Built in 1988, the single-story building sits on a 1.61-acre lot and features four suites, currently 100% occupied by three tenants. The tenant mix includes a daycare center (in place since 2008 with one year remaining on their lease), a dance studio (since 2020, with three years remaining), and an executive recruiter (since 2022, with over three years remaining and 4% annual rent increases). The property boasts excellent visibility on River Road (CT Route 179), a primary commuter corridor, and is conveniently located near the intersection of US Routes 44 and 202, as well as local schools and municipal buildings. The strong demographics of the area, with over 38,800 people within a 5-mile radius and an average household income exceeding $215,000, further enhance the investment potential. The property's proximity to the Shoppes at Farmington Valley, a major shopping destination, adds to its appeal. This stabilized investment offers a 7% cap rate and a gross lease structure, providing a stable income stream with built-in rent growth. The asking price is $1,171,911, and the current net operating income (NOI) is $82,034. This fee-simple ownership opportunity presents a strong return on investment in a desirable location.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Collinsville
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.9251
- Latitude
- 41.8274
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
