132 Main StChester, CT 06412

Property Details for 132 Main St

Year built

1900

Lot size

1.94 AC

Property size (Sq ft)

23,467 SF

Zone code

R-5

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

CHES M:14 B:494

APU

CHESM14B494

Description

This exceptional 23,467 square foot commercial property, located at 132 Main Street in Chester, Connecticut, presents a unique redevelopment opportunity. Situated on a generous 1.94-acre lot, the building has served as a nursing home for many years but is now available for conversion to a variety of uses. Its prime in-town location offers unparalleled convenience, with easy access to restaurants, shops, and a grocery store, all within walking distance. The property's versatility makes it ideal for several potential projects, including senior housing, affordable housing, or starter homes. However, significant renovation will be required to adapt the building to a new purpose. Adding to its appeal is a half-acre parking lot directly across the street, providing ample parking for residents or customers. The property's proximity to Route 154 ensures excellent accessibility and visibility. This is a rare chance to acquire a substantial property in a thriving Connecticut town, offering significant potential for a savvy investor or developer. The asking price is $975,000. This represents a compelling investment opportunity in a desirable location with high redevelopment potential. Don't miss this chance to transform this property into a thriving community asset.

• CAP approach

  CAP return

  Valuation

  6%

  $3,792,501

  6.5%

  $3,500,770

  7%

  $3,250,715

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,526,128

  Geo Method

  $3,526,128

• Alternative Use

  Use

  Valuation

  Residential

  $4,440,874

  Hospitality

  $4,067,817

  Educational

  $3,384,376

  Medical

  $3,500,770

  Retail

  $5,264,585

Location Insight

City

Chester

County

Middlesex

State

Connecticut

Latitude

41.4017

Longitude

-72.4445

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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