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476-480 Main St
Middletown, CT 06457
Retail Property For Sale


Executive Summary
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.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
13,837 SF
Building Class
C
Year Built
1900
Price
$1,450,000
Price Per SF
$104.79
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Loading Docks
1 Exterior
Building FAR
2.89
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
B-1
Frontage
40’ on Main
Amenities
- Bus Line
Property Taxes
| Parcel Number | MTWN-000022-000000-000560 | Improvements Assessment | $266,380 |
| Land Assessment | $161,000 | Total Assessment | $427,380 |
Property Taxes
Parcel Number
MTWN-000022-000000-000560
Land Assessment
$161,000
Improvements Assessment
$266,380
Total Assessment
$427,380
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