578 Main StMiddletown, CT 06457

  • Mixed-use properties
  • 4,192 SF
For Lease
$17.50/SF/YR View listing

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
Mixed-use properties
Property subtype
Other investment properties
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
578 Main St, Middletown, Connecticut

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,591
$112,700
$75,080
$187,780
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FAQs

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