The real estate crowdfunding platform Acquire Real Estate has sold one of its investments in Avon.

The 407,466-square-foot property sold for $16.5 million. The building, located at 57 Littlefield St., is occupied by five tenants and currently provides a net operating income of approximately $1.2 million. Average annual returns are projected between 8.5 and 11 percent paid quarterly over a three- to five-year period.

“57 Littlefield offers a unique combination of credit tenancy and stability through near-term cash flow,” Josh Klimkiewicz, president of Acquire, said in a statement. “Historically these type of institutional-quality investment opportunities have been unavailable to smaller investors, but through the Acquire platform, accredited investors can now access these types of deals.”