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93-97 Broad St 4,400 SF 100% Leased Office Building Middletown, CT 06457 $650,000 ($147.73/SF) 6.60% Cap Rate
Executive Summary
Great building with 5 rental suites. Plenty of parking in large lot and street parking for any overflow. Detached two car garage is currently being rented for extra income. Two meters for gas/electricity.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$78,708
|
$17.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$78,708
|
$17.89
|
| Taxes |
$14,358
|
$3.26
|
| Operating Expenses |
$21,950
|
$4.99
|
| Total Expenses |
$36,308
|
$8.25
|
| Net Operating Income |
$42,400
|
$9.64
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $78,708 |
| Annual Per SF | $17.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $78,708 |
| Annual Per SF | $17.89 |
| Taxes | |
|---|---|
| Annual | $14,358 |
| Annual Per SF | $3.26 |
| Operating Expenses | |
|---|---|
| Annual | $21,950 |
| Annual Per SF | $4.99 |
| Total Expenses | |
|---|---|
| Annual | $36,308 |
| Annual Per SF | $8.25 |
| Net Operating Income | |
|---|---|
| Annual | $42,400 |
| Annual Per SF | $9.64 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
4,400 SF
Building Class
C
Year Built/Renovated
1900/2013
Price
$650,000
Price Per SF
$147.73
Cap Rate
6.60%
NOI
$42,884
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,200 SF
Building FAR
0.30
Lot Size
0.34 AC
Opportunity Zone
Yes
Zoning
MX
Amenities
- 24 Hour Access
- Bus Line
- Fireplace
- Basement
- Air Conditioning
1 1
Walk Score®
Walker's Paradise (92)
Property Taxes
| Parcel Number | MTWN-000024-000000-000102 | Total Assessment | $378,430 (2025) |
| Land Assessment | $149,730 (2025) | Annual Taxes | $14,358 ($3.26/SF) |
| Improvements Assessment | $228,700 (2025) | Tax Year | 2022 |
Property Taxes
Parcel Number
MTWN-000024-000000-000102
Land Assessment
$149,730 (2025)
Improvements Assessment
$228,700 (2025)
Total Assessment
$378,430 (2025)
Annual Taxes
$14,358 ($3.26/SF)
Tax Year
2022
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93-97 Broad St
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