This exceptional investment opportunity presents a stabilized, turn-key multi-tenant property located at 550 N Main St, Southington, CT 06489. The 17,824 square foot building, constructed in 1984, features 17 units across two stories, boasting 14,401 square feet of net rentable space. Currently housing 16 tenants, including a diverse mix of businesses such as massage therapy, medical spa, salon, and insurance agency, the property enjoys a remarkable 97% occupancy rate. The current NOI is $132,048, with a pro-forma NOI of $135,356, yielding an 8.28% cap rate and a pro-forma cap rate of 8.49%. The asking price is $1,595,000, translating to $89.49 per square foot and $93,823.53 per unit. The property sits on a 1.68-acre lot and includes 70 parking spaces. Long-term leases are in place with built-in rent bumps, providing consistent cash flow and significant upside potential. The property is zoned B and offers a mix of retail space on the first floor and office space on the second. Lease options are available, and the ownership is fee simple. This prime location on Main Street's vibrant retail corridor ensures high visibility and convenient access, making it an attractive investment for both owner-occupiers and investors seeking a strong return. The property's strong tenant base, consistent cash flow, and built-in rent increases make this a compelling opportunity in the thriving Southington market.
Highlights
Exceptional investment opportunity: 17,824 SF multi-tenant building in Southington, CT.
16 tenants in 17 units (97% occupancy), generating $132,048 NOI ($135,356 pro-forma).
8.28% cap rate (8.49% pro-forma), asking price $1,595,000 ($89.49/SF, $93,823.53/unit).
1.68-acre lot with 70 parking spaces; long-term leases with built-in rent increases.
Fee simple ownership; B zoning (retail/office); prime Main Street location.
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Contacts
Sandy Strickling
Anne-Marie Dube
Tyler Egner
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550 Main St, Southington, Connecticut, 06489
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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550 Main St
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