156 River Rd - Telecom Hotel/Data Hosting FOR SALE


Willington, CT 06279
$1,500,000 USD
518-791-9474
156 River Rd, Willington, CT for Sale
$1,500,000 USD
Telecom Hotel/Data Hosting - FOR SALE
1/20
null | 6.67% Cap Rate

156 River Rd
Willington, CT 06279


HIGHLIGHTS

  • Flex use building.
  • The Mill Works, a historic landmark building in Willington, CT.
  • The work spaces combine wood and brick with an abundance of natural light and water views to provide an inspirational environment for creative thought

OVERVIEW

RATIONALE FOR SALE & PRICING: The Mill Works property has been continuously owned and operated by two generations of the Buccino family for over 60 years. At this time, we are seeking to transition ownership to the “right” passionate individual or organization who will continue the legacy of innovation for years to come. A professional property appraisal was completed in 2015, resulting in a property value of $1,300,000. In 2023, a market value assessment was completed by a real estate professional which resulted in a market value of $1,500,000. Based on these analyses, we believe a range of $1.3M – $1.5M is a reasonable price range for this property. We are most interested in a timely direct sale. Due to personal and health related factors, we are happy to review all serious offers and willing to consider flexible terms. Comprehensive list of facility improvements, financial data, historical designations, etc. available to serious buyers. FACILITY DETAILS AND DESCRIPTIONS: The Mill Works facility was originally home to the Gardiner Hall Jr Company, the first spooled thread manufacturer in the US, operating from 1860-1954. In 1962, the property was purchased by the Buccino family; and has served as home for a variety of creative business applications from manufacturing / R&D concerns and retail establishments to professional offices and fine art studios; and most recently a cultural organization offering a performance venue and event space, history museum and community art gallery. The Mill Works, a historic landmark in Willington, CT, offers over 30,000 square feet of unique and inspiring workspace. The facility includes 21 built-out suites ranging in size from 150sf to 3,800sf; and a separate 1,500sf townhouse apartment for landlord occupancy onsite. The property also includes 3 rentable outbuildings; and a dedicated fire reservoir serving a dry sprinkler system installed throughout the facility. Our workspaces combine wood and brick with an abundance of natural light and water views to provide an inspirational environment for creative thought. This historic setting enhanced with current technology offers a peaceful and productive workplace where ideas become reality. The Mill Works facility is located approximately 1-mile from I-84, just minutes from the main University of Connecticut campus in Storrs, CT. Our rural setting and close proximity to major cities provides cultural opportunities and favorable logistics for entrepreneurs and small businesses. Distance to Major Cities: Hartford, CT - 20 minutes Springfield, MA - 45 minutes Worcester, MA - 50 minutes New Haven, CT - 1 hour Providence, RI - 1 hour Boston, MA - 1 ¾ hours Albany, NY - 2 hours New York, NY - 2 ½ hours

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$43 USD /SF

CAP RATE

6.67%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Telecom Hotel/Data Hosting

ADD'L SUBTYPES

R&D, Loft/Creative Space, Telecom Hotel/Data Hosting

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1860

UTILITIES

Lighting, Water, Heating - Oil (Fired)

CLEAR CEILING HT

16 Ft

DOCKS

1

DRIVE INS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.74

LAND SF

75,794

ZONING

Mixed-Use

APN/PARCEL ID

WILL-000000-000000-026700

ASK ABOUT THIS PROPERTY

Tom BuccinoThe Mill WorksMore Info
518-791-9474

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Tom BuccinoThe Mill WorksMore Info
518-791-9474

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.