5 Shaws Cv - Medical FOR SALE


New London, CT 06320
$5,525,000 USD
216-264-2038
5 Shaws Cv, New London, CT for Sale
$5,525,000 USD
Medical - FOR SALE
1/9
null | 8.1% Cap Rate

5 Shaws Cv
New London, CT 06320


HIGHLIGHTS

  • 85% Occupied Multitenant Medical Office Located in New London MSA | E-Commerce & Recession Proof Tenant Mix, Added Value Through Lease Up
  • DaVita has a Investment Grade Credit Rating of BBB- (S&P) | 10+ Year Historical Occupancy
  • 37,475 SF | 1.33 Acres | Major Tenants Include DaVita, Columbia Dental, and Hanger Prosthetics
  • Low Basis Entry Point with Staggered Lease Rollover | Rare Opportunity to Acquire Signature, Multitenant Office with Medical & Credit Tenants at Near

OVERVIEW

Marcus & Millichap is pleased to present the DaVita Dialysis Anchored - Shaw’s Cove Five, a signature Medical and Professional Services property, located at 5 Shaw’s Cove, New London, Connecticut. The asset is a premier property in the Shaw’s Cove Master Planned office park, in downtown New London overlooking the marina and the Thames River. It is a 37,475 SF, 85% occupied multitenant office property built in 1987 with a unique, high-quality primarily medical tenant mix. The major tenant, DaVita, occupies over a third of the building and has an investment grade credit rating of BBB- (S&P). The remainder of the building is occupied by medical tenants and other professional service offices including Government Agencies. The majority of tenants have occupied the building through multiple renewal options. Shaw's Cove Five rests on approximately 1.33 acres and is positioned within less than a mile south of the I-95 intersection (57,400+ VPD) the major interstate connecting New York and Boston. There has been continued growth in the immediate area including hundreds of new Class A multi-family properties and other retail amenities. The local and immediate economy is driven by Electric Boat building the nuclear submarines for the Navy, and also chemical research with Pfizer's large research and development campus.

FOR SALE DETAILS

PRICE

$5,525,000 USD

PRICE/SF

$149 USD /SF

CAP RATE

8.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

DaVita Anchored - Shaw's Cove Five

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

118

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

57,935 SF

ZONING

L-01

APN/PARCEL ID

NLON-000026-000110-000001-000009,NLON-000026-000110-000011-000002

ASK ABOUT THIS PROPERTY

Ryan MooreMarcus & MillichapMore Info
216-264-2038

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Ryan MooreMarcus & MillichapMore Info
216-264-2038

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