200 John Downey Dr - Office FOR SALE


New Britain, CT 06051
$2,150,000 USD
860-308-6115
200 John Downey Dr, New Britain, CT for Sale
$2,150,000 USD
Office - FOR SALE
1/8
null | 9.17% Cap Rate

200 John Downey Dr
New Britain, CT 06051


HIGHLIGHTS

  • Low Maintenance
  • NN investment.
  • 9+% CAP

OVERVIEW

Opportunity to acquire this well-maintained, double-net investment! Built in 1974, this single-story industrial office spans 14,981 square feet on a generous 2.33-acre lot. The building is equipped with central heating and air conditioning, features modern finishes, and is constructed with a durable steel frame and brick/masonry exterior. Currently occupied by Lincoln Technical Institute for over 19 years, this property yields a gross annual rent of $239,748, with a 3 percent annual increase. A new four-year lease is set to begin in January 2025. Lincoln Technical Institute is a nationally recognized institution specializing in career-focused training and education. With a strong emphasis on hands-on learning, Lincoln Tech offers programs across a variety of technical fields, including automotive technology, healthcare, skilled trades, culinary arts, and information technology. The institution has a history of long-term occupancy in purpose-built educational spaces, making it a stable and reliable tenant.

FOR SALE DETAILS

PRICE

$2,150,000 USD

PRICE/SF

$144 USD /SF

CAP RATE

9.17%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

126

LAND DETAILS

LAND ACRES

2.33 AC

LAND SF

101,495 SF

ZONING

L1

APN/PARCEL ID

NBRI-000009C-000000-A000005

ASK ABOUT THIS PROPERTY

Thuyan TranOxford RealtyMore Info
860-308-6115

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Thuyan TranOxford RealtyMore Info
860-308-6115

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