About 530 Main Street
Opportunity for the savvy investor looking to capitalize on adding value by creating a Lifestyle Asset in the heart of Middletown. The asset is in close proximity to Wesleyan University and next to the popular restaurants: Ion, Whey Station, and Luce. Its Only Natural Boutique Grocery Store. This 4 floor asset is 16 units, with 4 storefronts and 12, 1 bedroom apartments. The retail tenants are: a Grocery Store, Boost Mobile, a Barber and one vacant store front. Features of the asset include: 70% new windows, hard wire smoke detectors and sprinkler system. The tenants pay electric. A capital infusion through enhancing the common areas and remodeling the units will make this asset a lifestyle community. Closed comps of $122k-$135k/unit can be attained for modern units in Middletown. Parking for this asset is on side streets for free or tenants can get a residential permit for ~$55/mth to park in some of the parking lots. Melilli Lot is the closest one with great lighting & access to all amenities.
Features of 530 Main Street
| MLS® # | 170554217 |
|---|---|
| Price | $930,000 |
| Bathrooms | 0.00 |
| Square Footage | 15,136 |
| Square Footage | Public Records |
| Acres | 0.09 |
| Year Built | 1860 |
| Type | Commercial For Sale |
| Status | Closed |
Community Information
| Address | 530 Main Street |
|---|---|
| Area | N/A |
| City | Middletown |
| County | Middlesex |
| State | CT |
| Zip Code | 06457 |
Amenities
| Utilities | Electric Available, Gas Available, Phone Available, Cable Available |
|---|---|
| Parking | Paved, On Street Parking, Off Street Parking |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Hot Air, Electric, Natural Gas |
|---|---|
| Cooling | None |
| Fireplace | No |
Exterior
| Lot Description | Level Lot |
|---|---|
| Roof | Tar/Gravel |
| Foundation | Concrete |
Additional Information
| Date Listed | March 8th, 2023 |
|---|---|
| Days on Market | 413 |
| Zoning | B-1 |
| RE / Bank Owned | No |
Listing Details
| Office | Berkshire Hathaway NE Prop. |
|---|