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Garibaldi Building 54 Washington St 12,288 SF 100% Leased Office Building Middletown, CT 06457 $1,000,000 ($81.38/SF)
Executive Summary
This offering presents a rare opportunity to acquire a BUILDING PERMIT ISSUED multifamily redevelopment in one of Connecticut’s most vibrant downtowns. With approvals secured and strong market fundamentals, investors can move directly into construction and lease-up.
BUILDING PERMITS IN PLACE to convert the property into an 18-unit residential building.
Engineering, electrical, and plumbing plans are completed and stamped.
Walkable to Main Street amenities, dining, and retail, driving tenant demand.
Town-approved PARKING PERMIT PROGRAM ALLOWS RESIDENTS TO PURCHASE DOWNTOWN PARKING
IDEAL FOR A MULTIFAMILY DEVELOPER, OR VALUE-ADD INVESTOR
PROPERTY FEATURES
Existing Structure with Character – Former Italian American Club
Zoning Approval & BUILDING PERMIT in Place – Eliminates entitlement risk
Approved Parking Plan – ALLOWS RESIDENTS TO PURCHASE DOWNTOWN PARKING.
Flexible Unit Layout Potential – Optimize for market rents and tenant demand
BUILDING PERMITS IN PLACE to convert the property into an 18-unit residential building.
Engineering, electrical, and plumbing plans are completed and stamped.
Walkable to Main Street amenities, dining, and retail, driving tenant demand.
Town-approved PARKING PERMIT PROGRAM ALLOWS RESIDENTS TO PURCHASE DOWNTOWN PARKING
IDEAL FOR A MULTIFAMILY DEVELOPER, OR VALUE-ADD INVESTOR
PROPERTY FEATURES
Existing Structure with Character – Former Italian American Club
Zoning Approval & BUILDING PERMIT in Place – Eliminates entitlement risk
Approved Parking Plan – ALLOWS RESIDENTS TO PURCHASE DOWNTOWN PARKING.
Flexible Unit Layout Potential – Optimize for market rents and tenant demand
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
12,288 SF
Building Class
C
Year Built/Renovated
1936/1999
Price
$1,000,000
Price Per SF
$81.38
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,144 SF
Slab To Slab
13’
Building FAR
0.67
Lot Size
0.42 AC
Opportunity Zone
Yes
Zoning
B-1
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | MTWN-000022-000000-000556 | Improvements Assessment | $216,570 |
| Land Assessment | $103,640 | Total Assessment | $320,210 |
Property Taxes
Parcel Number
MTWN-000022-000000-000556
Land Assessment
$103,640
Improvements Assessment
$216,570
Total Assessment
$320,210
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Presented by
Kng Realty
Garibaldi Building | 54 Washington St
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