Value-Add Office | Medical | 31 Dow Rd
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Value-Add Office | Medical 31 Dow Rd
12,604 SF 14% Leased Office Building Online Auction Sale Plainfield, CT 06374
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Investment Highlights
- Value-add medical and office asset perfect for savvy investors and owners/users looking for space while collecting incomes.
- The building sits in a busy commercial corridor within the town of Plainfield.
- Population within a 2-mile radius is on the rise and incomes within 10 miles ring in at $92,438 per year.
- Perfectly located just off Interstate 395 and State Route 12 which is a major north/south connector for the area
- Surrounded by businesses including Amazon, Lowe's, McDonald’s, CVS, Wendy’s, Dunkin’ and more.
Executive Summary
31 Dow Road is a mixed-use office and medical building perched in the middle of Plainfield, Connecticut. The property is 12,604 square feet spread across 2.70 acres. Built in 1990, the well-maintained asset has undergone renovations that enhance the property's value. 31 Dow Road is fixed with a modern vinyl-clad facade with monument signage identifying tenant and visitor parking. There is ample parking with 81 surface spaces.
31 Dow Road is an excellent investment for owners and users. The asset is currently 14% occupied with an established medical practice in place. The current occupant, a medical user, has impressive historic occupancy in the building. New ownership can lease out remaining space with synergistic tenants and retain more long-term occupancy. Alternatively, owners/users can utilize the space for their own business. Because of the high vacancy, the new owner can easily build out to their specifications without having to wait for tenant move-outs.
The Plainfield submarket is also an excellent place for business. The Plainfield Economic Development Commission strives to provide a climate for businesses to start, operate, and grow. Office properties have performed well in this area historically as well. This submarket is considered relatively affordable, allowing new businesses to come in with ease.
Plainfield is an excellent place for business due to its small-town charm and close-knit community. Located directly off Interstate 395 on Exit 28, the asset is easily reachable by tenants and visitors alike. The property is adjacent to Day Kimball Healthcare which is designed to offer a variety of medical services at one convenient location. There are several other medical offices within a quick drive from dentists to other specialists. Located in the northeast corner of Connecticut, Plainfield is filled with history and charm. Plainfield has a population of 14,991 and is situated in Windham County. Living in Plainfield offers residents a suburban feel with most residents owning their homes.
Property tours are available by appointment only. Please contact Bob Motley 860-985-3392.
31 Dow Road is an excellent investment for owners and users. The asset is currently 14% occupied with an established medical practice in place. The current occupant, a medical user, has impressive historic occupancy in the building. New ownership can lease out remaining space with synergistic tenants and retain more long-term occupancy. Alternatively, owners/users can utilize the space for their own business. Because of the high vacancy, the new owner can easily build out to their specifications without having to wait for tenant move-outs.
The Plainfield submarket is also an excellent place for business. The Plainfield Economic Development Commission strives to provide a climate for businesses to start, operate, and grow. Office properties have performed well in this area historically as well. This submarket is considered relatively affordable, allowing new businesses to come in with ease.
Plainfield is an excellent place for business due to its small-town charm and close-knit community. Located directly off Interstate 395 on Exit 28, the asset is easily reachable by tenants and visitors alike. The property is adjacent to Day Kimball Healthcare which is designed to offer a variety of medical services at one convenient location. There are several other medical offices within a quick drive from dentists to other specialists. Located in the northeast corner of Connecticut, Plainfield is filled with history and charm. Plainfield has a population of 14,991 and is situated in Windham County. Living in Plainfield offers residents a suburban feel with most residents owning their homes.
Property tours are available by appointment only. Please contact Bob Motley 860-985-3392.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
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Market Analytics Click Here to Access
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Market Sale Price per SF
Worcester - MA USA
Market Cap Rate
Worcester - MA USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Property Subtype
Medical
Building Size
12,604 SF
Building Class
B
Year Built
1990
Percent Leased
14%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,604 SF
Building FAR
0.11
Land Acres
2.70 AC
Zoning
Commercial - Commercial zoning, multiple uses are allowed including medical and office.
Parking
81 Spaces (6.43 Spaces per 1,000 SF Leased)
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
2,907
7,358
19,332
2020 Population
2,837
7,218
19,712
2029 Population
2,911
7,360
19,203
2024-2029 Projected Population Growth
0.1%
0.0%
-0.7%
Daytime Employees
2,171
3,479
6,075
Total Businesses
255
369
735
Average Household Income
$79,283
$82,196
$86,762
Median Household Income
$65,444
$67,454
$71,593
Total Consumer Spending
$33.8M
$89.2M
$246.5M
Median Age
41.4
43.4
42.9
2024 Households
1,118
2,865
7,637
Percent College Degree or Above
10%
10%
10%
Average Home Value
$243,572
$241,940
$255,401
$ values in USD
zoning
| Zoning Code | Commercial (Commercial zoning, multiple uses are allowed including medical and office.) |
| Commercial (Commercial zoning, multiple uses are allowed including medical and office.) |
PROPERTY TAXES
| Parcel Number | PLAI-000017-000011A-000008 | Improvements Assessment | $1,704,381 CAD |
| Land Assessment | $544,273 CAD | Total Assessment | $2,248,654 CAD |
PROPERTY TAXES
Parcel Number
PLAI-000017-000011A-000008
Land Assessment
$544,273 CAD
Improvements Assessment
$1,704,381 CAD
Total Assessment
$2,248,654 CAD
Sale Advisor
Sale Advisor
Bob Motley, Senior Director
(860) 616-1432
Contact
With 33 years of commercial real estate experience, Mr. Motley is the senior commercial broker for Cushman & Wakefield specializing in Greater New Haven County and is a recognized leader in that marketplace. With a focus on office leasing and sales, Mr. Motley has serviced a wide variety of institutional owners and corporate users throughout the Greater New Haven Region. Robert Motley joined Cushman & Wakefield’s Hartford office in 1998. Prior to joining Cushman & Wakefield, Mr. Motley was a senior broker for CB Richard Ellis.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X, Inc. Samantha Corbat RE Brkr REB.0790949
-
Power Broker Bob Motley -
Cushman & Wakefield
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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