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Single-Tenant Office

1170 Ellington Rd

1170 Ellington Rd, South Windsor, CT 06074

Listing Price: $1,700,000

Cap Rate
7.48%
Rentable SF
11,692
Lot Size
2.19 acres
Year Built
1955

Investment Overview

The property has enjoyed stable occupancy for nearly 30 years. Medical Risk Managers moved into this location in 2013, occupying 5,660 SF, and quickly grew into the entire 11,692 SF. MRM is a full-service underwriting and consulting firm specializing in group stop-loss insurance and was acquired by BCS Financial Corporation in October 2020. BCS, founded in 1950, delivers a wide range of insurance and financial solutions for Blue Cross and Blue Shield. The new alignment enables MRM to grow by gaining market access and shared strengths. MRM’s customers will gain increased access to BCS’s broad portfolio of complementary products including excess of loss, stop-loss, international health, limited benefit, and group supplemental insurance. The site has recent capital improvements. A new asphalt shingle roof and gutters were installed in November 2021, and several upgrades to the HVAC system in June 2021, most notably for fresh-air intake and air purifiers. Earlier cosmetic improvements include paint, tile, and carpet. The building is not ADA compliant and features: - Eight Restrooms – Four Men’s and Four Women’s - Two Kitchens - Public Water & Sewer South Windsor was ranked the 12th best place to live in America in 2020. Money cited the town's public parks, farms, stable economy, and architecture. This Stately Gambrel architectural building is located on Ellington Road with 8,600 VPD and just 7-miles from Hartford, Connecticut’s Capital. South Windsor boasts over 89% of the workforce employed in white-collar jobs, well above the national average. It is a town of professionals, managers, and sales and office workers, an enviable combination of good schools, low crime, college-educated neighbors who tend to support education. The town has a high rate of homeownership in predominantly single-family residences. An astute investor will realize this asset’s long-term intrinsic value by not only its historical occupancy with a credit-rated tenant, but its long-term fundamental real estate value.

Investment Highlights

  • Strong Tenant: Tenant Rating is A- (Excellent) by A.M. Best
  • Established Tenant Since 2013
  • Recent Capital Improvements - New Roof and Gutters 2021
  • HVAC Upgrades 2021
  • Over $90,000 Median Household Income within 1-Mile
  • 8,600 VPD
  • Excellent Visibility and 61 Free-Surface Parking Spaces
  • Ease of Access (four-minute drive) to Interstate 291 and I-84

Exclusively Listed By

Financing By

Single-Tenant Office

1170 Ellington Rd

Listing Price: $1,700,000

Cap Rate
7.48%
Rentable SF
11,692
Lot Size
2.19 acres
Year Built
1955

Investment Highlights

  • Strong Tenant: Tenant Rating is A- (Excellent) by A.M. Best
  • Established Tenant Since 2013
  • Recent Capital Improvements - New Roof and Gutters 2021
  • HVAC Upgrades 2021
  • Over $90,000 Median Household Income within 1-Mile
  • 8,600 VPD
  • Excellent Visibility and 61 Free-Surface Parking Spaces
  • Ease of Access (four-minute drive) to Interstate 291 and I-84

Investment Overview

The property has enjoyed stable occupancy for nearly 30 years. Medical Risk Managers moved into this location in 2013, occupying 5,660 SF, and quickly grew into the entire 11,692 SF. MRM is a full-service underwriting and consulting firm specializing in group stop-loss insurance and was acquired by BCS Financial Corporation in October 2020. BCS, founded in 1950, delivers a wide range of insurance and financial solutions for Blue Cross and Blue Shield. The new alignment enables MRM to grow by gaining market access and shared strengths. MRM’s customers will gain increased access to BCS’s broad portfolio of complementary products including excess of loss, stop-loss, international health, limited benefit, and group supplemental insurance. The site has recent capital improvements. A new asphalt shingle roof and gutters were installed in November 2021, and several upgrades to the HVAC system in June 2021, most notably for fresh-air intake and air purifiers. Earlier cosmetic improvements include paint, tile, and carpet. The building is not ADA compliant and features: - Eight Restrooms – Four Men’s and Four Women’s - Two Kitchens - Public Water & Sewer South Windsor was ranked the 12th best place to live in America in 2020. Money cited the town's public parks, farms, stable economy, and architecture. This Stately Gambrel architectural building is located on Ellington Road with 8,600 VPD and just 7-miles from Hartford, Connecticut’s Capital. South Windsor boasts over 89% of the workforce employed in white-collar jobs, well above the national average. It is a town of professionals, managers, and sales and office workers, an enviable combination of good schools, low crime, college-educated neighbors who tend to support education. The town has a high rate of homeownership in predominantly single-family residences. An astute investor will realize this asset’s long-term intrinsic value by not only its historical occupancy with a credit-rated tenant, but its long-term fundamental real estate value.

Exclusively Listed By

Financing By

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