• Broker Kenneth Labbe 2033916805

Concept-for view residential units upperlevel 714-742 West St 33,138 SF Retail Building Southington, CT 06489 $2,900,000 ($87.51/SF) 10% Cap Rate

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EXECUTIVE SUMMARY

Call/write Kenneth Labbe c/o Pyramid Real Estate Group for details. - 860.891.8551 - The asking price for purchase is $2,900,000 based on a 10% yield to cost would contribute $290,000 in Net Operating Income to the project budget. Based on a current concept for residential conversion of the upper floor, lease-up of the 1st floor and lease-up of the north half of the lower level, the net new costs are estimated total $1,929,000 (guesstimate) for a total budget of $4,829,000. Based on a 10% yield to cost, the stabilized Net Operating Income "as if" complete would be $483,254. The completed stabilized property is to consist of 12 residential units on the upper floor, retail tenants at grade and a commercial use on the north half of the lower level.

ATTACHMENTS

Brochure Leasing
Brochure.Full

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
  • Storefront Retail/Office
  • General Retail Storefront Retail/Residential
  • Office Office Residential
Storefront Retail/Office
Building Size
33,138 SF
Building Class
B
Year Built
1969
Price
$2,900,000
Price Per SF
$87.51
Cap Rate
10%
NOI
$290,000
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.82
Lot Size
0.93 AC
Zoning
6
Parking
70 Spaces (2.95 Spaces per 1,000 SF Leased)
Frontage
292’ on West St

AMENITIES

  • 24 Hour Access
  • Freeway Visibility
  • Pylon Sign
  • Restaurant
  • Signage
  • Air Conditioning

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Finance and Insurance
  • -
  • -
  • Triple Net
  • Feb 2022

In 1928, two men shared a vision of providing a quality insurance product at a reasonable price. Over the decades that followed, Farmers Insurance has grown and adapted to meet the evolving needs of Americans. However, one constant has remained: an unwavering commitment to uphold its founding ideals by providing industry-leading products and first-rate services to the customers it is privileged to serve. Farmers Insurance not only prides itself on helping customers plan wisely for the unexpected, but also on restoring order when it occurs, so they can continue on their journey through life’s plans. Today, Farmers Insurance is one of the country's largest insurers of vehicles, homes, and small businesses, offering a wide range of insurance and financial services products. Farmers Insurance is proud to serve millions of households and businesses across all 50 states and the District of Columbia.

  • Giovanni's Pizzeria
  • Accommodation and Food Services
  • -
  • -
  • -
  • -
  • Ims Barter
  • -
  • -
  • -
  • -
  • -
  • Land Smoke Shop & Convenience
  • Retailer
  • -
  • -
  • Triple Net
  • Aug 2025
  • Services
  • -
  • -
  • -
  • -
  • Accommodation and Food Services
  • -
  • -
  • -
  • -

Subway® is simply the better choice for freshly made, convenient, and affordable food. For a reason, they are one of the world’s largest restaurant brands, serving up a crave-able menu with better options to their millions of fans, every day. Whether it’s their bread baked fresh daily, new flavorful signature subs or their classic fan favorites made fresh to order, Subway® delivers a quality, delicious meal that people can feel good about. The Subway® story began in 1965 when Fred DeLuca asked his family friend, Dr. Peter Buck, a nuclear physicist, for advice on how to pay his college tuition. With an idea to open a submarine sandwich shop and an initial investment from Dr. Buck, the two formed a business partnership that would ultimately change the landscape of the quick-service restaurant industry.

  • Retailer
  • -
  • -
  • -
  • -
TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Finance and Insurance - - Triple Net Feb 2022
Giovanni's Pizzeria Accommodation and Food Services - - - -
Ims Barter - - - - -
Land Smoke Shop & Convenience Retailer - - Triple Net Aug 2025
Services - - - -
Accommodation and Food Services - - - -
Retailer - - - -

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 1425
  • 1,425 SF
  • Retail
  • In-Line
  • Jul 2025

This space is build-out for retail and office uses intended for finance, insurance and real estate businesses. The suite and the owner are flexible as to the types of uses and in assisting tenants with the fit-up of the space for your use. The contribution of the landlord will be determined through negotiation. Term, rate, credit, cost of build-out and adaptability of the space are all considered in negotiating new lease.

  • 724
  • 1,904 SF
  • Retail
  • In-Line
  • Jul 2025

This tenant suite is build-out as retail/office space good for finance, insurance and real estate businesses or any other business that could use dual access (front/back)space built out with a small retail front and additional spaces to the west side of the suite. Landlord is open to change of use and assisting with tenant improvements.

  • 2nd Floor
  • 12,054 SF
  • Office/Retail
  • -
  • Jul 2025
Space Size Space Use Position Available
1425 1,425 SF Retail In-Line Jul 2025
724 1,904 SF Retail In-Line Jul 2025
2nd Floor 12,054 SF Office/Retail - Jul 2025

1425

Size
1,425 SF
Space Use
Retail
Position
In-Line
Available
Jul 2025

724

Size
1,904 SF
Space Use
Retail
Position
In-Line
Available
Jul 2025

2nd Floor

Size
12,054 SF
Space Use
Office/Retail
Position
-
Available
Jul 2025

1425

Size 1,425 SF
Space Use Retail
Position In-Line
Available Jul 2025

This space is build-out for retail and office uses intended for finance, insurance and real estate businesses. The suite and the owner are flexible as to the types of uses and in assisting tenants with the fit-up of the space for your use. The contribution of the landlord will be determined through negotiation. Term, rate, credit, cost of build-out and adaptability of the space are all considered in negotiating new lease.

724

Size 1,904 SF
Space Use Retail
Position In-Line
Available Jul 2025

This tenant suite is build-out as retail/office space good for finance, insurance and real estate businesses or any other business that could use dual access (front/back)space built out with a small retail front and additional spaces to the west side of the suite. Landlord is open to change of use and assisting with tenant improvements.

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
Jude Ln West St, E 6,543 2025 0.09 mi
West St Hart St, NE 10,541 2025 0.13 mi
I- 84 West St, NE 72,323 2022 0.22 mi
I 84 West St, SW 3,710 2024 0.29 mi
West Street I- 84, S 17,281 2022 0.29 mi
West Street I- 84, N 17,819 2025 0.29 mi
West St I- 84, N 17,673 2023 0.29 mi
I- 84 West St, E 8,751 2025 0.31 mi
Yankee Expressway West St, SW 40,212 2020 0.32 mi
I- 84 West St, W 5,171 2025 0.32 mi

NEARBY MAJOR RETAILERS

LongHorn Steakhouse
Starbucks
110 Grill

PROPERTY TAXES

Parcel Number SOUT-000109-000000-000044 Improvements Assessment $899,050
Land Assessment $295,620 Total Assessment $1,194,670

PROPERTY TAXES

Parcel Number
SOUT-000109-000000-000044
Land Assessment
$295,620
Improvements Assessment
$899,050
Total Assessment
$1,194,670

MAP

ADDITIONAL PHOTOS

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  • Listing ID: 35163537

  • Date on Market: 3/17/2025

  • Last Updated: 6/4/2025

  • Address: 714-742 West St, Southington, CT 06489