42 Michael StEast Haven, CT 06513

Property Details for 42 Michael St

Year built

1971

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

5,652 SF

Zone code

CB-2

Property type

Retail space

APN

EHAV M:450 B:5719 L:010

APU

EHAVM450B5719L010

Description

This exceptional East Haven, CT flex building presents a rare investment opportunity. Located at 42 Michael St, 06513, this 5,652 square foot property sits on a 0.23-acre lot and offers high visibility from Route 80, just one mile from I-91, Exit 8. The building, constructed in 1971 and zoned CB-2, features two units, each priced at $400,000, for a total asking price of $800,000 ($141.54/sq ft). The layout includes a spacious first floor ideal for retail or various uses, complemented by appealing, classic-designed second-floor offices. The property boasts one loading dock and one dock-high door, making it suitable for a variety of businesses. This is a unique chance to acquire a well-positioned, versatile commercial property in a desirable location. The building's convenient access to major roadways ensures excellent connectivity and accessibility for both employees and customers. Its prime location and adaptable space make it an attractive investment for both owner-occupiers and investors seeking a strong return. Don't miss this opportunity to own a piece of East Haven's thriving commercial landscape.

• CAP approach

  CAP return

  Valuation

  6%

  $1,373,633

  6.5%

  $1,267,969

  7%

  $1,177,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,860,996

  Geo Method

  $1,860,996

• Alternative Use

  Use

  Valuation

  Residential

  $1,069,580

  Hospitality

  $979,729

  Educational

  $815,123

  Medical

  $843,156

  Retail

  $1,267,969

Location Insight

City

East Haven

County

New Haven

State

Connecticut

Latitude

41.3213

Longitude

-72.8655

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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