State Leased Office Building 699 East Middle Tpke 25 370 pi² 100% Loué Bureau Immeuble Manchester, CT 06040 3 635 389 $ CAD (143,29 $ CAD/pi²) 7,28% Taux de capitalisation

State Leased Office building, Manchester, CT. 25,112 square feet. State leases 18,465 (+/- 73.5%) and has occupied this space for over 25 years. New seven (7) year lease with five (5) year renewal option. Same building ownership almost 40 years. Owner has completed tenant and common area capital upgrades in 2025 of +/- $350K. Offering Cap Rate of 7.28 is based on IN-PLACE NOI of $191,000. Property offers substantial upside potential NOI of +/-$291K which would be an +11% Cap Rate with lease-up of "rent ready" vacant space of +/- 6,000 sq. ft. Building presently situated on a 6.5 acre lot zoned Neighborhood Commercial which owner will subdvide prior to sale. Building offered on +/- conforming +/- 3 acre land parcel. Additional land parcel with development opportuinties available separately at $475,000. Potential for single family, MF, duplex housing or senior housing development with zone change. Owner would prefer sale of entire property to a single buyer. Call listing agent for additional information or OM for adjacent property.