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200 John Downey Dr

14,981 SF Office Building New Britain, CT 06051 $2,150,000 ($144/SF) 9.17% Cap Rate

Office Space Connecticut New Britain 200 John Downey Dr, New Britain, CT 06051

Investment Highlights

  • Low Maintenance
  • 9+% CAP
  • NN

Executive Summary

Opportunity to acquire this well-maintained, double-net investment! Built in 1974, this single-story industrial office spans 14,981 square feet on a generous 2.33-acre lot. The building is equipped with central heating and air conditioning, features modern finishes, and is constructed with a durable steel frame and brick/masonry exterior. Currently occupied by Lincoln Technical Institute for over 19 years, this property yields a gross annual rent of $239,748, with a 3 percent annual increase. A new four-year lease is set to begin in January 2025. Lincoln Technical Institute is a nationally recognized institution specializing in career-focused training and education. With a strong emphasis on hands-on learning, Lincoln Tech offers programs across a variety of technical fields, including automotive technology, healthcare, skilled trades, culinary arts, and information technology. The institution has a history of long-term occupancy in purpose-built educational spaces, making it a stable and reliable tenant.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
14,981 SF
Building Class
C
Year Built
1974
Price
$2,150,000
Price Per SF
$144
Cap Rate
9.17%
NOI
$197,193
Tenancy
Single
Building Height
1 Story
Typical Floor Size
14,981 SF
Building FAR
0.15
Lot Size
2.33 AC
Zoning
L1 - Light Industrial
Parking
126 Spaces (8.41 Spaces per 1,000 SF Leased)
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PROPERTY TAXES

Parcel Number NBRI-000009C-000000-A000005 Improvements Assessment $935,970
Land Assessment $175,700 Total Assessment $1,111,670

PROPERTY TAXES

Parcel Number
NBRI-000009C-000000-A000005
Land Assessment
$175,700
Improvements Assessment
$935,970
Total Assessment
$1,111,670
(860) 308-6115

Contact

  • Listing ID: 33641177

  • Date on Market: 10/25/2024

  • Last Updated:

  • Address: 200 John Downey Dr, New Britain, CT 06051

More public record information on 200 John Downey Dr, New Britain, CT 06051

The Office Property at 200 John Downey Dr, New Britain, CT 06051 is currently available for sale. Contact Oxford Realty for more information.

Office PROPERTIES IN NEARBY NEIGHBORHOODS

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200 John Downey Dr
(860) 308-6115 x

200 John Downey Dr

Thuyan Tran

(860) 308-6115

(860) 308-6115

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