85 Riv Rd Collinsville, CT 06019-3245

Property Details for 85 Riv Rd

Year built

1988

Construction

FRAME

Lot size

1.61 lot acres

Property size

7,886 SF

Zone code

I

Property type

Industrial properties

APN

CANT M:30 B:449 L:0085

APU

CANTM30B449L0085

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.

Location Insight

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

Property Tax & Assessments