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For Sale 1173 Queen St 13,818 SF 67% Leased Retail Building Southington, CT 06489 $1,990,000 ($144.02/SF) 9.59% Cap Rate

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EXECUTIVE SUMMARY

The building consists of a 1969 built inline retail center with seven suites and two vacancies. Please call Kenneth Labbe/Pyramid Real Estate Management (PREM) - C860-891-8551 Desk - 203-391-6805 klabbe@pyramidregroup.com - For Lease; For Sale - Rent Guaranty for 1-year Vacant End Cap 1,540 square feet, Rent Guaranty for 1-year Vacant In Review - Sale is discretionary. Offering Price is $1,900,000 leveraged; $1,800,000-$1,850,000 all cash - Proforma Net Operating Income "As If" Fully Leased - $190,795 based on a Budget of $1,990,000 indicates an overall Capitalization Rate of 9.59%. The proforma "As Is" is $94,158. To compensate, the seller is providing a one year lease guaranty while we or you work on the leasing of the vacant suites, which are actively under negotiation.

Brochure.Full

Brochure.Leasing

PROPERTY FACTS Under Contract

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Freestanding

Building Size

13,818 SF

Building Class

Year Built

1988

Price

$1,990,000

Price Per SF

$144.02

Cap Rate

9.59%

NOI

$190,795

Percent Leased

67%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.17

Lot Size

1.86 AC

Zoning

Parking

50 Spaces (3.62 Spaces per 1,000 SF Leased)

Frontage

175’ on Queen

Bus Line

Pylon Sign

Signage

SPACE AVAILABILITY

SPACE
SIZE
SPACE USE
POSITION
AVAILABLE

45
3,080 SF
Restaurant
In-Line
Now

Kitchen equipment and build-out cost $400,000 and former restaurant owner seeks return which is already factored in the rent and/or other consideration may be considered. Property owner will consider proposals with and without the restaurant in place. The best economic propositions will be given priority. Please call with questions to Kenneth Labbe, Pyramid Real Estate Management - 860-891-8551; 203-391-6805 or Email klabbe@pyramidregroup.com