About 423 Main Street
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.
Features of 423 Main Street
| MLS® # | 170614199 |
|---|---|
| Price | $3,000,000 |
| Square Footage | 31,200 |
| Square Footage | Public Records |
| Acres | 0.20 |
| Year Built | 1944 |
| Type | Commercial For Sale |
| Status | Under Contract |
Community Information
| Address | 423 Main Street |
|---|---|
| Area | N/A |
| City | Middletown |
| County | Middlesex |
| State | Connecticut |
| Zip Code | 06457 |
Amenities
| Utilities | Electric |
|---|---|
| Parking | Off Street Parking, On Street Parking, Parking Lot |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Elevator, Fire Suppression System, Freight Elevator |
|---|---|
| Heating | Hot Air, Oil |
| Cooling | Central Air |
| Fireplace | No |
| Has Basement | No |
Exterior
| Lot Description | Level Lot |
|---|---|
| Roof | Composition, Flat |
| Foundation | Concrete |
Additional Information
| Date Listed | December 11th, 2023 |
|---|---|
| Days on Market | 264 |
| Zoning | B-1 |
| RE / Bank Owned | No |
Listing Details
| Agent | Michael P. Doherty |
|---|---|
| Office | KW Legacy Partners |