480 Main Street, Middletown, CT 06457 (MLS # 24154052)

Save to Favorites

Print

Share

Share via

Twitter

Facebook

Email

Email a Friend

Your Email

Friend's Email

Note

Are You Human? 1 + 1 =

PRICE $1,450,000 SIZE 13,837 sqft LOT SIZE 4,792 sqft

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.