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484 Main Street, Middletown, CT

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DetailMap
484 Main Street

Middletown, CT 06457 - NW Middlesex/Middletown Submarket


Property Type:Office Sub Type:- Status:Existing Year Built:1930
Stories:4 Typical Floor:6,625 SF Building Size:26,500 SF
% Leased:
For Sale Price:$2,150,000 Price/SF:$81.13
Cap Rate:9.00 %
Smallest Space:1,150 SF Largest Space:5,950 SF Total Space Avail:7,550 SF Rent/SF/Yr:
$12.00 - $15.75
Parking:Free Surface spaces are available; Ratio of .79/1,000 SF Amenities:24 Hour Availability, Bus Line


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 1st
1,600 SF
$15.75/SF/Yr
Vacant
Negotiable
Office
 2nd
1,150 SF-5,950 SF
$12.00/SF/Yr
30 Days
Negotiable
Office
 
10738669
9885588
Space Notes Space Notes  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
1st
1,600 SF
$15.75/SF/Yr
Vacant
Negotiable
Office
2nd
1,150 SF-5,950 SF
$12.00/SF/Yr
30 Days
Negotiable
Office
Located off Route 9, Route 66 and Route 17. Parking is available. ADA accessible.

Sale Notes:
Regions Commercial, LLC exclusively presents a 95% occupied, multi-tenant investment opportunity anchored by the State of Connecticut, downtown Middletown, CT near Middlesex Hospital and courthouse. Building consists of +/-26,200 SF on .25 AC, B-1 zoning, plus an additional .10 acre contiguous parking lot at 9 Alsop Ave.

This four-story, brick building is handicap accessible serviced by an elevator, has two retail stores on the ground floor and offices on the second, third, and fourth floors. State of Connecticut is the anchor tenant in the building and has occupied approximately 40% of the building for over 20 years. Other tenants include attorneys, dentist, and a restaurant. Building NOI is approximately $200,000 annually.

Each unit is separately metered for electric and natural gas and paid by Tenants. Building is connected to city water and sewer and has a wet sprinkler system throughout and updated plumbing and electrical. Roof is about 5 years old. Forced hot air HVAC system with RTU's. Building is handicap accessible. There are 36 parking spaces that are dedicated to this building.
Middletown is centrally located in Connecticut half-way between Hartford, CT and New Haven, CT. Middletown, CT is easily accessible by highway Route 9 which runs from West Hartford to the shoreline communities, and is experiencing large growth with a robust medical corridor one mile from subject property, an infusion of eclectic restaurants, and 0% Class-A office vacancy downtown as well as many new developments in the pipeline including a harbor side mixed-use project.

Regions Commercial LLC
Michael Guidicelli
(860) 854-6500


Regions Commercial LLC
Michael Guidicelli
(860) 854-6500



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