887 Main StMonroe, CT 06468

Property Details for 887 Main St

Year built

1979

Construction

FRAME

Lot size

1.19 AC

Property size (Sq ft)

6,000 SF

Zone code

I1

Property type

Showrooms

APN

MONR M:103 B:011 L:00

APU

MONRM103B011L00

Description

This exceptional 7-unit flex space property, situated at 887 Main St, Monroe, CT 06468, presents a compelling investment opportunity. Located on Route 25, the property boasts excellent visibility and accessibility. The building comprises five first-floor office spaces and two ground-level industrial units, all currently occupied. All office units have recently undergone upgrades and are well-maintained by long-term tenants, who are all current on rent. Convenient common restrooms are located in the hallway. The property is in excellent condition, featuring regularly serviced HVAC units and boilers. A prominent monument sign at the entrance clearly lists all tenants. Ample parking is already available, with additional land near the lower level offering potential for expansion. The asking price is $1,900,000. The seller is motivated and prefers a 1031 exchange, but will consider strong offers. This property offers a stable income stream with significant upside potential for a new owner through leasing the available ground-level industrial space. The building's prime location, excellent condition, and strong tenant occupancy make this a truly attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,458,210

  6.5%

  $1,346,040

  7%

  $1,249,894

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,975,579

  Geo Method

  $1,975,579

• Alternative Use

  Use

  Valuation

  Residential

  $1,135,435

  Hospitality

  $1,040,052

  Educational

  $865,311

  Medical

  $895,070

  Retail

  $1,346,040

Location Insight

City

Monroe

County

Fairfield

State

Connecticut

Latitude

41.3517

Longitude

-73.2611

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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