GET MORE INFORMATION
We respect your privacy! Your information WILL NOT BE SHARED, SOLD, or RENTED to anyone, for any reason outside the course of normal real estate exchange. By submitting, you agree to our Terms of Use and Privacy Policy.
$ 600,000
$ 760,000 21.1%
Est. payment | /mo
4,140 SqFt
$ 600,000
$ 760,000 21.1%
Est. payment | /mo
4,140 SqFt
Key Details
Sold Price $600,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 4,140 sqft
Price per Sqft $144
MLS Listing ID 24048642
Sold Date 04/10/25
Year Built 1955
Annual Tax Amount $12,142
Lot Size 0.310 Acres
Property Description
70 Heminway Park Road presents investors with an easy transfer of an NNN-leased medical office. The single-story brick building was erected in 1955 and rings in at an impressive 4,140 square feet. Situated on a 0.31-acre lot the property comes equipped with 19 parking spaces perfect for employees and visitors alike. Recent renovations include a new HVAC, roof, front facade, and a reception and waiting area. 70 Heminway Park Road has been inhabited by St. Mary's Hospital for the past 13 years, which has meticulously maintained the asset. The tenant is on an NNN lease, creating a hands-off investment for ownership. St. Mary's Hospital pays for utilities, taxes, insurance, snowplowing, landscaping, trash, and HVAC maintenance. The Watertown, Connecticut, office market is a small yet substantial location for investors to enter. Total inventory is impressive at 220,000 square feet. Vacancy rates are low at a notable 2.8% vacancy, which is 2.8% lower than a year ago. Market rates for rent are on the rise as well as cap rates in this area. Watertown is a quaint town located just under an hour from the major metros of Hartford and New Haven. This locale is committed to bringing new businesses to the area as well as keeping existing businesses successful.
Location
State CT
County Litchfield
Zoning BC
Interior
Heating Hot Air
Cooling Central Air
Exterior
Utilities Available Electric, Gas Available
Roof Type EPDM Synthetic Rubber
Building
Lot Description Level Lot
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Michael Guidicelli • Regions Real Estate Advisors
Bought with Michael Guidicelli • Regions Real Estate Advisors
Bought with Michael Guidicelli • Regions Real Estate Advisors
GET MORE INFORMATION
Jon Sigler
Sales Associate | RES.RES.0808054