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$1,500,000
Est. payment /mo
1 Bath
15,136 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 15,136 sqft
Price per Sqft $99
MLS Listing ID 24161724
Full Baths 1
Year Built 1860
Annual Tax Amount $25,559
Lot Size 3,920 Sqft
Property Description
Prime Mixed-Use Investment Opportunity - Downtown Middletown, CT. This asset currently produces 9.7 cap annually, features a total of 16 units, including 4 retail storefronts and 12 on1-bedroom residential apartments. The retail spaces are currently occupied by established neighborhood businesses, including a grocery store, Boost Mobile, a barber shop, and a convenience store-providing steady foot traffic and consistent rental income.The residential component consists of twelve 1-bedroom units, offering strong demand in this vibrant downtown location. The asset include: mostly of windows recently replaced, hardwired smoke detectors throughout, fire sprinkler system installed, tenants cover their own electric utilities. Well-maintained asset with value-add potential. Street parking is readily available, and tenants can get a residential permit for approximately $55/month for access to designated parking lots nearby. The asset is well located in downtown Middletown, the property benefits from high visibility, walkability, and proximity to restaurants, shopping and public transportation.
Location
State CT
County Middlesex
Zoning B-1
Interior
Heating Hot Air
Cooling None
Exterior
Utilities Available Electric Available, Gas Available, Cable Available
Roof Type Tar/Gravel
Building
Lot Description Level Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
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Listed by Geni Silva • Ethos Rlty, LLC
Nearby Locations
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