For Sale
$2,450,000

132 Main StSouthington, CT 06489

High-Yield, Multi-Tenant Retail Building

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 14,478 square foot retail building, located at 132 Main Street in the heart of Downtown Southington, CT (06489), presents a compelling value-add investment opportunity. The property sits on a 1.03-acre lot and boasts 100% occupancy across eight units, including a Webster Bank anchor tenant with a newly installed three-lane drive-thru (completed in 2023). The building underwent a complete interior renovation in 2024, featuring new flooring, trim, lighting, and paint. The lower level offers multiple inviting units, while the second floor houses a thriving e-commerce company and a prestigious wellness business with eight private session rooms, showcasing custom woodwork and a built-in aquarium. The building features an ADA-compliant elevator and main lobby stairs. All leases are currently NNN, minimizing landlord responsibilities and ensuring immediate cash flow. Significant value-add potential exists through lease conversions to triple-net, development of the remaining 0.65 acres (zoned CB), one of the largest parcels in Downtown Southington, and potential cell tower installation. The property benefits from heavy foot and vehicle traffic on Route 10, and the Webster Bank tenant invested $300,000 in the new drive-thru. Built in 1940 and renovated in 2024, this property offers a blend of historic charm and modern updates, making it an ideal addition to any investment portfolio. The asking price is $2,450,000, representing a 7.40% cap rate and a price per square foot of $169.22.

Highlights

  • Class A office building in downtown Southington with high foot and vehicle traffic.
  • Fully leased to diverse professional tenants, including anchor tenant Webster Bank.
  • New three-lane drive-thru for Webster Bank, completed in 2023, representing a $300,000 investment.
  • Extensive 2023 renovations including HVAC, landscaping, parking lot, and flooring upgrades.
  • Significant value-add potential through NNN lease conversions and optimized space layout.
  • Value-add opportunity: potential cell tower installation on the roof.

Property Details for 132 Main St

Property type
Retail properties, Banks
Square Feet
14,478 SF
Year Built/Renovated
1940/2024
Lot Size (sq. ft)
44,867 SF
Units
8

Location Insight

City
Southington
County
Hartford
State
Connecticut
Latitude
41.599594593723
Longitude
-72.878046292619
132 Main St, Southington, Connecticut

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132 Main St
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