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DaVita & ABA Big Hearts 445-445A Willard Ave 9,760 SF 100% Leased Office Building Newington, CT 06111 $3,720,187 CAD ($381.17 CAD/SF) 7.25% Cap Rate



Investment Highlights
- Attractive Rent Increases
- Dynamic Corporate Tenant
- High Traffic Counts
- Minimal Landlord Responsibilities
- Prime Retail Location
- Strong Demographics
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to acquire the condominium interest in the two-tenant building located at 445 Willard Avenue in Newington, Connecticut (the “Property”). The two-tenant building is fully leased to DaVita Dialysis and Big Hearts ABA and contains 9,760 square feet. DaVita has been at this location since 2010 and just exercised their first renewal option demonstrating their commitment to the site and market. DaVita has 5+ years remaining on their lease with two (2), 5-year renewal options. Big Hearts ABA has 1+ years remaining on their lease with two (2), 3-year renewal options Both tenants’ leases provide attractive rent increases throughout the primary lease terms and renewal options. The Property is well situated at the signalized intersection of Alumni Road and Willard Avenue (CT Route 173), one of the area’s primary commuter corridors. The Property is seconds from Newington High School and the Newington VA Medical Center, and enjoys convenient access to area retailers and restaurants, municipal and medical buildings, and Central Connecticut State University. Additionally, the Property is surrounded by densely populated residential neighborhoods providing a captive customer base and is close to CT Route 9, US Route 5, and Interstate 84. Newington is in central Connecticut approximately 4.5 miles northeast of New Britain and 8 miles southwest of Hartford.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
9,760 SF
Building Class
B
Year Built
2009
Price
$3,720,187 CAD
Price Per SF
$381.17 CAD
Cap Rate
7.25%
NOI
$269,714 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
9,760 SF
Zoning
CD
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | NEWI-000009-000303-000011F | Improvements Assessment | $2,111,367 CAD |
| Land Assessment | $0 CAD | Total Assessment | $2,111,367 CAD |
Property Taxes
Parcel Number
NEWI-000009-000303-000011F
Land Assessment
$0 CAD
Improvements Assessment
$2,111,367 CAD
Total Assessment
$2,111,367 CAD
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DaVita & ABA Big Hearts | 445-445A Willard Ave
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