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1077 Main St 9,680 SF 100% Leased Retail Building Manchester, CT 06040 $1,450,000 ($149.79/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Manchester Downtown, nearby the new library
EXECUTIVE SUMMARY
12 units mixed units consist 11 apartments ( 3 studios & 8 one bedroom units) and one store front unit. Major renovations have been done within last 12 years. The roof, all windows, heating system, fire alarm system, 10 of 11 apartment units have been updated , including plumbing, electrical. located at downtown Manchester, near by the Manchester new library. Most residential tenants are in yearly renewal lease. The commercial tenant lease ends in 2028 with option to extend. Commercial tenant pays own water and sewer.
Landlord pays for heat, cold & hot water, sewer, real tax, trash & insurance.
Very stable tenants. Current rents are below market.
Landlord pays for heat, cold & hot water, sewer, real tax, trash & insurance.
Very stable tenants. Current rents are below market.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,680 SF
Building Class
C
Year Built/Renovated
1900/2015
Price
$1,450,000
Price Per SF
$149.79
Cap Rate
7%
NOI
$101,500
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
3.00
Lot Size
0.07 AC
Opportunity Zone
Yes
Zoning
CBD - Downtown
Frontage
AMENITIES
- Bus Line
- Signage
Walk Score®
Very Walkable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | MANC-000079-003760-001077 | Total Assessment | $262,400 (2025) |
| Land Assessment | $49,600 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $212,800 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
MANC-000079-003760-001077
Land Assessment
$49,600 (2025)
Improvements Assessment
$212,800 (2025)
Total Assessment
$262,400 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Sovereign Properties
1077 Main St
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