109 Hanover StMeriden, CT 06451

Property Details for 109 Hanover St

Year built

1900

Construction

FRAME

Lot size

0.14 AC

Property size (Sq ft)

5,410 SF

Zone code

TODH

Property type

Other commercial real estate

Property subtype

Showrooms

APN

MERI M:111 B:50 L:21

APU

MERIM111B50L21

Description

This exceptional 5,410 square foot mixed-use building in Meriden, CT presents a unique investment opportunity. Situated on a 0.14-acre lot in the heart of downtown, this property boasts a versatile layout ideal for owner-occupancy or a multi-faceted rental income stream. The building features approximately 2750 square feet of warehouse/industrial space, perfect for a business requiring ample storage and workshop area. High ceilings (16 feet clear) and a striking 14' x 14' glass-panel overhead door enhance functionality and visual appeal. A retail storefront with excellent street presence and on-building signage provides high visibility for customer traffic. Convenient back-office space is also included, supporting efficient business operations. Adding to the income potential are two beautifully updated, one-bedroom apartments located upstairs, each with its own separate entrance. Currently occupied, these apartments offer a consistent rental income stream. The property's prime downtown location offers easy access to amenities, the train station, and abundant street parking, complemented by nearby municipal parking options. This fully walkable neighborhood provides a vibrant and convenient setting for both business and residential occupants. This property offers a compelling blend of commercial and residential uses, making it an attractive option for a variety of business owners and investors. The asking price is $590,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,314,819

  6.5%

  $1,213,679

  7%

  $1,126,988

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,781,314

  Geo Method

  $1,781,314

• Alternative Use

  Use

  Valuation

  Residential

  $1,023,784

  Hospitality

  $937,780

  Educational

  $780,222

  Medical

  $807,055

  Retail

  $1,213,679

Location Insight

City

Meriden

County

New Haven

State

Connecticut

Latitude

41.5366

Longitude

-72.8064

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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