374 Colony StWallingford, CT 06492

Property Details for 374 Colony St

Year built

1900

Lot size

0.36 AC

Property size (Sq ft)

2,631 SF

Property type

Mixed-use properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a fully leased, mixed-use property in the heart of downtown Wallingford, Connecticut. The property consists of two buildings totaling 2,631 square feet on a 0.36-acre lot. The main, three-story building, constructed in 1900 and completely renovated in 2022, features a retail storefront and three residential apartment units. All units benefit from new appliances, HVAC, and electrical systems. A separate 480 square foot commercial building offers additional income potential or versatile use. The property boasts five tenants under a modified lease agreement, providing a stabilized investment. Conveniently located on Route 5 (North Colony Street), it's within walking distance of the Amtrak station and Wallingford's center, offering easy access to public transportation. Its proximity to I-91 and the Merritt Parkway ensures excellent regional connectivity. The property is zoned CB40 Commercial District and includes 20 parking spaces. City gas, water, and sewer services are available. This is a rare opportunity to acquire a fully renovated, multi-tenant property with strong cash flow in a desirable Connecticut location. Asking price is $795,000, representing a price per square foot of $302.17.

Location Insight

City

Wallingford

County

New Haven

State

Connecticut

Latitude

41.4637

Longitude

-72.8203

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