This investments property is located at 64-66 West Street and is now available for sale at $1,595,000. Nice renovations have been completed on both properties. 64 West Street is occupied by two “AAA credit tenants”. One lease is guaranteed by the Mormon Church and the second lease is guaranteed by the Catholic Church. The 5108 s.f. office building is currently home to a Psychiatric counseling practice and has one 2500 s.f. space available for lease with an estimate net rent of $25,000 / year. The estimated combined income of the two buildings in 2018 will be $184,101 per year with expenses of $16,000 per year yielding a Cap Rate of 10.54%
The combined site plan for 64-66 West Street has be totally updated with new paving, new sidewalks, new drainage, and all new landscaping. The buildings are located on West Street in a revitalized area with many new buildings and located only minutes from Danbury City Hall. Total of 13,538 s.f.
Listing courtesy of Michael Struna from Advantage Realty, Inc.
Commercial for sale
64-66 West Street, Danbury, Connecticut 06810