707 Main StMonroe, CT 06468

Property Details for 707 Main St

Year built

2000

Construction

FRAME

Lot size

2.40 AC

Property size (Sq ft)

11,061 SF

Zone code

B1

Property type

Other commercial real estate

Property subtype

Showrooms

APN

MONR M:082 B:038 L:00

APU

MONRM082B038L00

Description

This exceptional 11,000-square-foot free-standing building, constructed in 2000, presents a unique investment opportunity in Monroe, Connecticut. Situated on Main Street (Route 25) in Fairfield County, this two-story structure boasts a prominent location with high visibility. The main level encompasses 9,857 square feet, while the second floor offers an additional 1,204 square feet. An unfinished basement of 1,182 square feet and a 550-square-foot outdoor patio further enhance the property's versatility. Ample parking is provided with 126 spaces. The asking price is $1,999,000, translating to $181.73 per square foot. Annual property taxes are $34,321. The building's adaptable design lends itself to a variety of uses, including, but not limited to, religious services, catering, restaurant operations, wedding venues, or funeral homes. This property offers significant potential for a discerning buyer seeking a substantial and well-located building in a thriving Connecticut community. The zip code is 06468.

• CAP approach

  CAP return

  Valuation

  6%

  $2,688,209

  6.5%

  $2,481,424

  7%

  $2,304,179

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,641,980

  Geo Method

  $3,641,980

• Alternative Use

  Use

  Valuation

  Residential

  $2,093,174

  Hospitality

  $1,917,336

  Educational

  $1,595,201

  Medical

  $1,650,062

  Retail

  $2,481,424

Location Insight

City

Monroe

County

Fairfield

State

Connecticut

Latitude

41.3401

Longitude

-73.2632

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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