Perkins Corner Professional Center | 10 Higgins Hwy
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Perkins Corner Professional Center 10 Higgins Hwy
12,240 SF 100% Leased Office Building Mansfield Center, CT 06250 £1,515,630 (£124/SF) 9.11% Net Initial Yield
Investment Highlights
- Medical Office: Medical tenants make up 80% of the rent roll adding a strong recession and Amazon resistance to this investment
- Under current management has had $100,000 in capital improvements made in the last 2 years.
- It is under 2 miles to the main shopping district in Willimantic.
- WALT is 3.7 Years
Executive Summary
LOWER PRICING: 9.11% Cap | 11.30% Cash on Cash Return | New Lease Extension w/ Increase | 5-Miles from UCONN
• Medical Office: Medical tenants make up 80% of the rent roll adding a
strong recession and Amazon resistance to this investment.
• Corporate Guarantors: Both Dental tenants are part of much larger and
growing networks.
• Tenure: The three largest tenants have all been at the property for 15+
years. The two most recent lease signings were both for 5 year durations
showing a commitment to the location.
• Expense Reimbursement: Approximately 56% of the property expenses are
reimbursed by the tenants.
• Location: Perkins Corner is centrally located in Tolland County and sits 5
miles from the University of Connecticut main campus. It is under 2 miles
to the main shopping district in Willimantic.
• Access: The property is 1.5 miles from Route 6 which provides access
to Hartford (31 miles), Providence (50 miles), New Haven (56 miles), and
Boston (90 miles).
• Medical Office: Medical tenants make up 80% of the rent roll adding a
strong recession and Amazon resistance to this investment.
• Corporate Guarantors: Both Dental tenants are part of much larger and
growing networks.
• Tenure: The three largest tenants have all been at the property for 15+
years. The two most recent lease signings were both for 5 year durations
showing a commitment to the location.
• Expense Reimbursement: Approximately 56% of the property expenses are
reimbursed by the tenants.
• Location: Perkins Corner is centrally located in Tolland County and sits 5
miles from the University of Connecticut main campus. It is under 2 miles
to the main shopping district in Willimantic.
• Access: The property is 1.5 miles from Route 6 which provides access
to Hartford (31 miles), Providence (50 miles), New Haven (56 miles), and
Boston (90 miles).
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
12,240 SF
Building Class
B
Year Built
1985
Price
£1,515,630
Price Per SF
£124
Net Initial Yield
9.11%
NOI
£138,103
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
12,240 SF
Building FAR
0.18
Lot Size
1.60 AC
Zoning
PB5
Parking
90 Spaces (7.35 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | MANS-000031-000080-000001 | Improvements Assessment | £593,888 |
| Land Assessment | £77,457 | Total Assessment | £671,344 |
PROPERTY TAXES
Parcel Number
MANS-000031-000080-000001
Land Assessment
£77,457
Improvements Assessment
£593,888
Total Assessment
£671,344
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Perkins Corner Professional Center | 10 Higgins Hwy
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