253-257 Main St - Office FOR SALE


Torrington, CT 06790
$1,270,000 USD
203-751-1390
253-257 Main St, Torrington, CT for Sale
$1,270,000 USD
Office - FOR SALE
1/26
null | 8.24% Cap Rate

253-257 Main St
Torrington, CT 06790


HIGHLIGHTS

  • Downtown Location on a High Traffic Intersection
  • Extremely Stable Income - Fully Leased to a Wide Variety of Professional Tenants
  • Extensively Renovated - Little to no Deferred Maintenance

OVERVIEW

Incredible Investment Opportunity directly in Downtown Torrington featuring extremely stable income at above market returns and extremely low operating costs. The property sits just steps away from city hall on an EXTREMELY high traffic corner parcel intersection in Downtown Torrington with excellent visibility (16,000 VPD count), easy pedestrian and vehicle accessibility with a private parking lot with overflow and 16 cash flowing units. Benefit from an extensive 2024 renovation providing little to no deferred maintenance. Property features city water/sewer, gas, new common area mailboxes, upgraded interior/exterior surveillance systems, energy efficient tinted windows, new LED Lights, a new roof, new flooring/carpeting, and all new HVAC units and mechanicals. The thriving Torrington economy provides a very high absorption rate and as a result, the property is 100% leased to a wide variety of tenants (lawyers, tax professionals, insurance, salon, roofing contractors, therapists, board games, recording studio, stretch therapy, etc). Value add potential for anyone looking to turn all the below market leases to NNN, rooftop opportunities for billboards and cell towers. Property is just minutes from Charlotte Hungerford Hospital and the Litchfield County Courthouse, creating an ideal workplace for legal and healthcare professionals. Great for Passive Income/Absolute Minimum Landlord Responsibilities.

FOR SALE DETAILS

PRICE

$1,270,000 USD

PRICE/SF

$175 USD /SF

CAP RATE

8.24%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

21

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

DD

APN/PARCEL ID

PLYM-000040-000074-000007

ASK ABOUT THIS PROPERTY

Zachary PrangerGroup Realty LLCMore Info
203-751-1390

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Zachary PrangerGroup Realty LLCMore Info
203-751-1390

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