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760 Hopmeadow St

14,392 SF 100% Leased Office Building Simsbury, CT 06070 £941,292 (£65/SF) 6.57% Net Initial Yield

Investment Highlights

  • Lots of Natural Light
  • Historical Building
  • Downtown location

Executive Summary

Designed in 1917 for Simsbury Bank & Trust. Example of commercial Colonial Revival architecture of that period. In 1994 it was purchase and completely restored to its original integrity. Captial improvements were made 10 years ago developing into offices. Included in rent are the utilities and wifi for each tenant. The lower level has 4236 finished spaces and is also rented. The building is listed in the National Historic Places.

Financial Summary (Actual - 2024)

Annual Annual Per SF
Gross Rental Income £130,534 £9.07
Other Income - -
Vacancy Loss - -
Effective Gross Income £130,534 £9.07
Taxes - -
Operating Expenses - -
Total Expenses £68,678 £4.77
Net Operating Income £61,855 £4.30

Financial Summary (Actual - 2024)

Gross Rental Income
Annual £130,534
Annual Per SF £9.07
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £130,534
Annual Per SF £9.07
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual £68,678
Annual Per SF £4.77
Net Operating Income
Annual £61,855
Annual Per SF £4.30

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
14,392 SF
Building Class
C
Year Built/Renovated
1918/1993
Price
£941,292
Price Per SF
£65
Net Initial Yield
6.57%
NOI
£61,855
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
7,196 SF
Slab to Slab
10 ft
Building FAR
0.97
Land Acres
0.34 AC
Zoning
SCZ
Parking
23 Spaces (1.59 Spaces per 1,000 SF Leased)

Amenities

  • Signage

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Savage
  • -
  • -
  • -
  • Full Service Gross
  • Mar 2025
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Savage - - - Full Service Gross Mar 2025

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
SIMS-000010G-000205-000003-000004
Land Assessment
£85,658
Improvements Assessment
£704,149
Total Assessment
£789,807
  • Listing ID: 33726919

  • Date on Market: 02/11/2024

  • Last Updated:

  • Address: 760 Hopmeadow St, Simsbury, CT 06070

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