A broker spent a year working to sell a 9,189-square-foot commercial and retail building along busy Route 10 in Southington before buying it for $2.17 million
“I was looking for an investment property and because I was the agent with the property I knew an awful lot about it,” Olcott V. Snow Jr. said of his recent purchase of the 9,189-square foot building at 1217 Queen St. “In real estate, it’s all about the location. It’s a good income property and a good location.”
Snow Jr. is president of O.V. Resources of Connecticut, a Bristol-based commercial and industrial real estate agency. He is also principal of 61 Bradley Professional Building LLC, which paid $2.17 million for the 60-year-old building and nearly 1.8 acres at 1217 Queen St., in a sale logged by the town on Dec. 8.
Snow Jr. said he had recently sold another property and invested in the Southington building as part of a 1031 exchange.
Today, the property hosts a Pep Boys auto shop, breakfast and lunch spot Kettle Bagels 1 and a vacant restaurant space. Snow Jr. said he is working with prospective tenants for the restaurant space. He said he plans significant renovations.
The seller – Ararat Miracle LLC – paid $1.1 million for the property in 2007. Harry Terdjanian, of New Britain, is principal of the seller, according to state business records. Terdjanian had operated an Automaster Service Center at the Southington property.
