578 Main StMiddletown, CT 06457

Property Details for 578 Main St

Year built

1900

Construction

FRAME

Lot size

0.05 AC

Property size (Sq ft)

4,192 SF

Zone code

B-1

Property type

Investment properties

Property subtype

Live-work space

APN

MTWN M:22 L:0242

APU

MTWNM22L0242

Description

This exceptional retail opportunity is located at 578 Main Street in the heart of Middletown, Connecticut. The property consists of a three-story building, built in 1900, totaling 4,588 square feet and divided into five suites. Currently, 600 square feet of street-level retail space is available for lease. This space is ideal for a variety of businesses, benefiting from its high visibility on Main Street and significant pedestrian traffic. The property sits on a 0.05-acre lot and is zoned B-1. Convenient metered street parking is readily available. The building allows for on-building signage, further enhancing visibility. The average daily traffic count exceeds 14,200 vehicles. While the minimum divisible space is 600 square feet, the maximum contiguous space available is also 600 square feet. The power supply is to be determined (TBD). This prime location offers excellent potential for a thriving retail business. The property's historical charm combined with its modern accessibility makes it a truly unique opportunity. Don't miss out on this chance to establish your business in a vibrant and bustling downtown setting.

• CAP approach

  CAP return

  Valuation

  6%

  $693,063

  6.5%

  $639,750

  7%

  $594,054

• Comparable approach

  Method

  Valuation

  Relative Method

  $547,727

  Geo Method

  $547,727

• Alternative Use

  Use

  Valuation

  Residential

  $793,290

  Hospitality

  $726,650

  Educational

  $604,564

  Medical

  $625,356

  Retail

  $940,433

Location Insight

City

Middletown

County

Middlesex

State

Connecticut

Latitude

41.564

Longitude

-72.6516

CBSA code

25540

CBSA name

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

Property Tax & Assessments

FAQs

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