Property Description
Welcome to Main St in Middletown! This 10 Unit mixed use brick beauty is anchored by 2 established commercial tenants on the ground level and 8 massive (900+Sq Ft) one-bedroom residential units above- an incredible opportunity for a stabilized asset with additional room for growth in a highly competitive location and market! The long-term ground-floor commercial tenants provide reliable income and contribute substantial CAM payments, ensuring manageable operating expenses for ownership. Seven of the eight residential units have been modernized in recent years, with all tenants responsible for electric and hot water, maximizing net income. Significant value-add opportunity exists as current rents remain below market despite recent renovations. Multiple near-term lease expirations combined with strong comparable rents throughout the neighborhood support immediate, achievable income growth for a new owner! This asset is ideal for an investor seeking a stabilized mixed-use building with reliable income and a clear potential for growth and appreciation in a high-demand market.
Features
- Heating System:
- Steam
- Cooling System:
- Window Unit
- Heat Fuel Type:
- Oil
- Flooring:
- Vinyl, Wood
- Fireplaces Total:
- 0
- Parking Total Spaces:
- 0
- Location:
- Downtown
- Lot Description:
- Level Lot
- Water Source:
- Public Water Connected
Address Map
- Street:
- Main
- Street Number:
- 480
- Floor Number:
- 0
- Longitude:
- W73° 20′ 57.2”
- Latitude:
- N41° 33′ 46”
MLS Addon
- Office Name:
- Century 21 AllPoints Realty
- Agent Name:
- Lindy Hoyt
- List Agent MLSID:
- 853462
- List Office MLSID:
- 13571
- Tax Year:
- July 2025-June 2026
- Directions:
- GPS Friendly
- HOA Fee Amount:
- $0
- Parcel Number:
- 1007661
- Property Tax:
- $18,591
- Zoning:
- B-1
Commercial For Sale
480 Main, Middletown, 06457
0 Bedrooms
10 Bathrooms
13,837 Sqft
$1,450,000
Listing ID #24154052
Basic Details
- Property Type :
- Commercial For Sale
- Listing Type :
- For Sale
- Listing ID :
- 24154052
- Price :
- $1,450,000
- Bedrooms :
- 0
- Baths Total :
- 10
- Bathrooms :
- 10
- Half Bathrooms :
- 0
- Square Footage :
- 13,837 Sqft
- Year Built :
- 1917
- Lot Area :
- 0.11 Acre
- City:
- Middletown
- Zipcode:
- 06457
Agent info
RE/MAX Right Choice
43 South Main Street, Newtown CT 06470
- Ben Keeney
- View website
- 203-313-0013
- 866-886-0013
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