$3,000,000

Est. Mortgage $15,566/mo *

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423 Main Street, Middletown, CT, 06457

423 Main Street, Middletown, CT, 06457
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1944

31,200 sqft

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. Owner/agent

Status:

Active

Type:

Commercial

Units:

4

Zoning:

B-1

Frontage:

State Road

Garage:

Off Street Parking, On Street Parking, Parking Lot

Heating:

Hot Air

Cooling:

Central Air

Acreage:

0.2

Est. Taxes:

$38,995

Assessment

$1,110,970

Utilities

Electric

Lot Description:

Level Lot

Days on Market:

158

MLS #:

170614199

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of Michael Doherty, KW Legacy Partners Email: mike@dohertyhometeam.com