Updated Oct 29, 2024
INSA Acquires Former Chowder Pot Site In Hartford For $4M
165 Brainard Road Hartford, Connecticut 06114, USA
$4,000,000
$142/SF
Building Size
28,000 SF
Asset Type
Retail
Closing
Aug 3, 2023
About this deal
AI
The former site of the Chowder Pot in Hartford, located at 165 Brainard Road, has been sold for $4 million. The property is a retail asset spanning 5.2 acres and has a total square footage of 28,000. The sale price per square foot amounts to $143.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,000,000
- Address: 165 Brainard Road
- Market: Hartford, CT
- Acres: 5.2
- Square Footage: 28,000
- Price per Square Foot: $143
The buyer of the property is INSA, a medical and adult-use cannabis company. With the purchase of the former Chowder Pot site, INSA expands its presence in the Hartford market. This transaction marks an important milestone for INSA as it continues to grow and establish its footprint in the cannabis industry.
Players
Enfield Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93