Address
530 Main Street, Middletown, CT
Price
$ 1,075,000
Property Attributes
  • ID#170554217
  • TypeCommercial
  • CountyMIDDLESEX
  • CityMiddletown
  • Zip06457
  • StyleCommercial For Sale
  • Price$ 1,075,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage15136
  • Lot Size3,920 SqFt
Data Source:
Smart MLS
Property Description

Opportunity for the savvy investor looking to capitalize on adding value by creating a Lifestyle Asset in the heart of Middletown. The asset is in close proximity to Wesleyan University and next to the popular restaurants: Ion, Whey Station, and Luce. Its Only Natural Boutique Grocery Store. This 4 floor asset is 16 units, with 4 storefronts and 12, 1 bedroom apartments. The retail tenants are: a Grocery Store, Boost Mobile, a Barber and one vacant store front. Features of the asset include: 70% new windows, hard wire smoke detectors and sprinkler system. The tenants pay electric. A capital infusion through enhancing the common areas and remodeling the units will make this asset a lifestyle community. Closed comps of $122k-$135k/unit can be attained for modern units in Middletown. Parking for this asset is on side streets for free or tenants can get a residential permit for ~$55/mth to park in some of the parking lots. Melilli Lot is the closest one with great lighting & access to all amenities.

Price History
3/8/2023 Listed $1,500,000
5/23/2023 14% - $1,300,000
7/10/2023 8% - $1,200,000
8/11/2023 11% - $1,075,000

General Features

Zoning B-1
Year Built 1860
Neighborhood N/A
Heater Type Hot Air
County Middlesex
Present Use Retail/Residential
Location Downtown
Net Operating Income 108715
Property Type Commercial For Sale
Status Under Contract - Continue to Show
Acres 0.09
Directions Per GPS
City Middletown
Street Name Main
Sq Ft Total 15136
DOM 271
Video Tour Y/N Yes

Interior Features

Cooling System None
Utilities Available Electric Available,Gas Available,Phone Available,Cable Available
Total Number of Units 16

Exterior Features

Water Source Public Water Connected
Garage Parking Paved,On Street Parking,Off Street Parking
Lot Description Level Lot

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 06457

Price
AVG $250K
$1.08M
Visits
AVG 73
129
Data Provided by Inside Real Estate®
Year Built
AVG 1928
1860
Walkscore
AVG 73
94
Data Provided by Walkscore® not using MLS data

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