669-691 Silas Deane Hwy - Freestanding FOR SALE


Wethersfield, CT 06109
$3,500,000 USD
860-525-9171
669-691 Silas Deane Hwy, Wethersfield, CT for Sale
$3,500,000 USD
Freestanding - FOR SALE
1/17
null | 7.14% Cap Rate

669-691 Silas Deane Hwy
Wethersfield, CT 06109


HIGHLIGHTS

  • Stabilized asset at 97.4% occupancy.

OVERVIEW

www. c b r e . c o m / 6 6 9 s i l a s d e a n e h i g h w a y CBRE is pleased to offer for sale 669-691 Silas Deane Highway, Wethersfield, Connecticut, 25,463 square feet (SF) retail strip center located on the corner of Wells Road (Route 175) and the Silas Deane Highway (Route 99). This sale provides a rare opportunity for an investor to purchase a prime real estate asset that has been held by the same ownership group for generations. The property is strategically situated in the Hartford South submarket with convenient access to Interstate 84, Interstate 91 and Route 2 via Route 3 and Route 5/15. The plaza is zoned Town Center “TC” Business District and sits on 2.37 acres (103,468 SF) at a traffic light with two (2) curbs cuts along Wells Rd and two (2) curb cuts on the Silas Deane Highway via an access agreement. This provides visitors easy and safe access to the various retailers. According to the state of CT DOT, there is approximately 17,000 average daily traffic. Currently, this retail center is a stabilized asset with 97.4% occupancy and only a small vacancy of 651 SF. As of today, the center houses ten (10) retail tenants ranging in size from 525 SF up to 6,750 SF including a regional paint store, three (3) food operators, a lighting store, comic/novelty store, barber shop, pawn shop and a cleaning service. The basement is not included in the square footage, however it is available for tenant’s storage.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$137 USD /SF

CAP RATE

7.14%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wells Road Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1951

SPRINKLERS

-

PARKING SPACES

142

LAND DETAILS

LAND ACRES

4.36 AC

LAND SF

189,927 SF

ZONING

TC

APN/PARCEL ID

WETH M:205 B:072

ASK ABOUT THIS PROPERTY

860-525-9171

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860-525-9171

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