Pending
Under Contract
423 Main Street
Middletown CT, 06457
$3,000,000
$96.15 per sqft
Pending
Under Contract
31,200 sqft
Commercial
Built in 1944
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.
170614199
MLSⓇ ID
December 11, 2023
Listed
December 26, 2024
Updated
Map
423 Main Street
Middletown CT, 06457
Interior Features
Interior Features
Elevator
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Oil, Forced Air
Exterior/Building Features
Lot Size
0.2 Acres
Lot Features
Level
Roof
Composition
Sewer
Public Sewer
Other Property Details
Area Name
N/A
Taxes
$40,884
Tax Frequency
Annually
Days on Market
264
Garage
No
Parking
Off Street, On Street, Parking Lot
View
No
County
Middlesex
Water Source
Public
Pool
No
Zoning
B-1
Listing History
Date | Event | Price |
|---|---|---|
9/4/2024 | Pending | — |
Listed by Michael Doherty with KW Legacy Partners
Listing Contact: 8609419996
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Data last updated on 12/26/2024 at 10:23 AM UTC