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$1,450,000 USD
480 Main St
268, Connecticut 06457
USA
268, Connecticut 06457
USA
1,285.457 m2 ::
13,837 sqft
Commercial for Sale, Multi-Family Home
Sale price per sqm: 1,127.97
Tax: 18,591 USD
Remarks:
Welcome to Main St in Middletown! This 10 Unit mixed use brick beauty is anchored by 2 established commercial tenants on the ground level and 8 massive (900+Sq Ft) one-bedroom residential units above- an incredible opportunity for a stabilized asset with additional room for growth in a highly competitive location and market! The long-term ground-floor commercial tenants provide reliable income and contribute substantial CAM payments, ensuring manageable operating expenses for ownership. Seven of the eight residential units have been modernized in recent years, with all tenants responsible for electric and hot water, maximizing net income. Significant value-add opportunity exists as current rents remain below market despite recent renovations. Multiple near-term lease expirations combined with strong comparable rents throughout the neighborhood support immediate, achievable income growth for a new owner! This asset is ideal for an investor seeking a stabilized mixed-use building with reliable income and a clear potential for growth and appreciation in a high-demand market.
Features:
- Year Built: 1917
Location:
480 Main St, 268, Connecticut 06457, USA
Listed By CENTURY 21 AllPoints Realty
The Commercial for Sale, Multi-Family Home located at 480 Main St, 268, Connecticut 06457, USA is currently for sale. 480 Main St, 268, Connecticut 06457, USA is listed for $1,450,000 USD. This property has 13,837 sqft. If the property located at 480 Main St, 268, Connecticut 06457, USA isn't what you're looking for, search Connecticut Real Estate to see other Commercial For Sale in 268.
