423 Main Street, Middletown, CT 06457 (MLS # 170614199)

Price $3,000,000
Status Active
Size 31,200 sqft
Lot Size 8,712 sqft
Days on Market 144
Prime Downtown location on Main St in Middletown. A lot of development currently taking place in the booming downtown and surrounding area. Priced at an 8 CAP with more value add potential. Many Cap Ex improvements have been made by ownership and strong leases in place including 10 year 'Salad Bar' and 5 year 'Escape Room' in former social security office. Building Highlights: 40,000 SQFT of Retail/Office 90% occupied with long term leases, 3 year old roof old with 25 year warranty, New Fire alarm system/Fully Sprinklered building. Over $750,000 spent in tenant build out and building renovations last 3 years including completely remodeled 2nd ,3rd and 4th floors, all new brick facade, and new HVAC. Building comes with 14 Parking Spots in rear of building.
Property Type(s): Commercial
Last Updated 12/11/2023 Year Built 1944
County Middlesex

Additional Details

AIR Central Air
AIR CONDITIONING Yes
HEAT Forced Air, Oil
INTERIOR Elevator
LOT 8712 sq ft
LOT DESCRIPTION Level
PARKING Off Street, On Street
SEWER Public Sewer
TAXES 38995
WATER Public
ZONING B-1

Location

 

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