423-425 Main St - Storefront Retail/Office FOR SALE


Middletown, CT 06457
$3,000,000 USD
860-941-9996
423-425 Main St, Middletown, CT for Sale
$3,000,000 USD
Storefront Retail/Office - FOR SALE
1/19
null | 8% Cap Rate

423-425 Main St
Middletown, CT 06457


OVERVIEW

Prime Downtown location on Main St in Middletown, CT. A lot of development currently taking place in the booming downtown and surrounding area. Priced at an 8 CAP with more value add potential. Many Cap Ex improvements have been made by ownership and strong leases in place. Building Highlights: 40,000 SQFT of Retail/Office 90% occupied with long term leases 3 year old roof old with 25 year warranty New Fire alarm system Fully Sprinklered building 10 year ‘Salad Bar’ lease signed. 5 year ‘Escape Room’ lease signed on 3rd floor. Former Social Security Office. Over $750,000 spent in tenant build out and building renovations last 3 years Completely remodeled 2nd ,3rd and 4th floors All new Brick Façade New HVAC Building comes with 14 Parking Spots in rear of building Environmental done in 2023

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$96 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1944

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

B-1

APN/PARCEL ID

MTWN-000022-000000-000616

ASK ABOUT THIS PROPERTY

Mike DohertyKeller Williams RealtyMore Info
860-941-9996

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Mike DohertyKeller Williams RealtyMore Info
860-941-9996

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.