7 Progress Dr - Service FOR SALE


Cromwell, CT 06416
$1,150,000 USD
203-230-1077
7 Progress Dr, Cromwell, CT for Sale
$1,150,000 USD
Service - FOR SALE
1/10
null | 8.27% Cap Rate

7 Progress Dr
Cromwell, CT 06416


HIGHLIGHTS

  • Single-Tenant Net-Leased Investment - Recently renewed with contractual annual rent increases
  • Quality Building with Significant Recent Capital Improvements, including HVAC replacement, new parking lot, drainage improvements, and interior.
  • Strategic Central Connecticut Location - Flex-industrial property w/ easy access to I-91 & Rte 9 in the established Cromwell business corridor

OVERVIEW

Rare opportunity to acquire a single-tenant net-leased flex industrial investment in one of Central Connecticut's most established business corridors. The lease was recently renewed, providing stable in-place cash flow with contractual annual rent increases throughout the remaining primary term. Ownership has invested significantly in the asset, completing many capital improvements in recent years, including HVAC replacement, parking lot reconstruction, drainage improvements, and interior upgrades. The building also features above-average office finish, modern fiber connectivity, and a natural gas backup generator. Located just minutes from Interstate 91 and Route 9, the property offers excellent regional accessibility within the highly desirable Cromwell industrial market. Detailed financial information, lease documents, and the complete Offering Memorandum are available to qualified purchasers. Contact Listing Agent for more details.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$148 USD /SF

CAP RATE

8.27%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Service

ADD'L SUBTYPES

undefined, Telecom Hotel/Data Hosting, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1994

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

2

DRIVE INS

1

PARKING SPACES

14

LAND DETAILS

LAND ACRES

1.47

LAND SF

64,033

ZONING

IND

APN/PARCEL ID

CROM-000003-000002-000010-000004

ASK ABOUT THIS PROPERTY

Jed BackusBackus Real EstateMore Info
203-230-1077

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Jed BackusBackus Real EstateMore Info
203-230-1077

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.