710-716 Hopmeadow St - Freestanding FOR SALE


Simsbury, CT 06070- Simsbury Ctr Historic District
$15,337,070 USD
781-776-4003
710-716 Hopmeadow St, Simsbury, CT for Sale
$15,337,070 USD
Freestanding - FOR SALE
1/10
null | 7.25% Cap Rate

710-716 Hopmeadow St
Simsbury, CT 06070
Simsbury Ctr Historic District


HIGHLIGHTS

  • STRONG TENANT ROSTER
  • DYNAMIC ANCHOR TENANTS
  • RECENT CAPITAL IMPROVEMENTS
  • ENERGY & TENANT IMPROVEMENTS
  • SCHEDULED RENT INCREASES
  • PRIME RETAIL LOCATION

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to acquire Drake Hill, a grocery-anchored retail center located at 700-710 Hopmeadow Street in Simsbury, Connecticut (the “Property”). The Property consists of 53,951 square feet across three buildings and is 98.89% leased to sixteen (16) tenants with one (1) vacant unit on 5.42 acres of land. Anchored by Fitzgerald’s Foods (Geissler’s) and CVS, other notable tenants include Webster Bank, TD Bank, Integrated Dermatology, and Jersey Mike’s. The majority of tenants have schedule rent increases in their primary term and renewal options, and the Property has been subject to a number of capital improvements, including to the roof, sewage & drainage system, installation of solar panels, and individual tenant improvements. Drake Hill is strategically located along Hopmeadow Street (US-202), the primary retail and commercial corridor serving Simsbury and the surrounding Farmington Valley region. The property benefits from strong visibility within one of Central Connecticut’s most affluent suburban trade areas, serving nearby communities including Avon, Granby, Canton, and Bloomfield. The immediate area features a strong mix of restaurants, retailers, medical offices, and professional services that generate consistent daily traffic along the corridor. Nearby destinations including the Simsbury Meadows Performing Arts Center and the International Skating Center of Connecticut further contribute to regional visitation and consumer activity. Surrounded by affluent residential neighborhoods and a well-established commercial base, Drake Hill is positioned within one of the Farmington Valley’s premier retail and service corridors.

FOR SALE DETAILS

PRICE

$15,337,070 USD

PRICE/SF

$262 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Drake Hill

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.42 AC

LAND SF

236,095 SF

ZONING

SCZ

APN/PARCEL ID

SIMS-000010G-000227-000001-000400-840

ASK ABOUT THIS PROPERTY

Robert HorvathHorvath & TremblayMore Info
781-776-4003

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Robert HorvathHorvath & TremblayMore Info
781-776-4003

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