40 Main StMeriden, CT 06451

Property Details for 40 Main St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.79 AC

Property size (Sq ft)

3,102 SF

Zone code

C-1

Property type

Showrooms

APN

MERI M:703 B:293 L:10A

APU

MERIM703B293L10A

Description

This exceptional 4,202 square foot commercial property, situated on a 0.79-acre lot at 40 Main Street in Meriden, Connecticut, presents a unique investment opportunity. Currently operating as a state-of-the-art auto repair and used car sales facility, this C1 zoned property is fully equipped for mechanical repair, auto body work, and painting. The facility boasts the capacity to display twenty used vehicles, and the sale includes five existing license plates. The property is environmentally compliant, ensuring a smooth transition for the new owner. The building's robust infrastructure and established business operations provide immediate income potential. This turnkey operation offers a rare chance to acquire a well-established business with significant upside. The property's prime location in Meriden, CT, ensures high visibility and accessibility. Owner financing is negotiable, making this an attractive proposition for a wide range of investors. This is a rare opportunity to acquire a profitable, established business in a desirable location. The property is ready for immediate occupancy and offers significant potential for growth and expansion. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $753,894

  6.5%

  $695,902

  7%

  $646,195

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,021,374

  Geo Method

  $1,021,374

• Alternative Use

  Use

  Valuation

  Residential

  $587,020

  Hospitality

  $537,707

  Educational

  $447,366

  Medical

  $462,751

  Retail

  $695,902

Location Insight

City

Meriden

County

New Haven

State

Connecticut

Latitude

41.5178

Longitude

-72.8269

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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