For Sale
$7,895,000

635-655 Main StMiddletown, CT 06457

High-yield, multi-tenant retail property.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fully leased, 79,813 square foot retail plaza situated on six acres in Middletown, Connecticut. The property comprises three buildings constructed in 1956, 1996, and 1998, offering a diverse tenancy of ten businesses. Building one encompasses 68,813 square feet, including a 6,525 square foot mezzanine. Building two offers 6,000 square feet of retail/bank space, complete with a drive-thru. Building three is a 5,000 square foot restaurant. The property boasts 330 parking spaces, prominent pylon and on-building signage, and excellent visibility along a high-traffic corridor with an average daily traffic count of 13,100 vehicles. Located conveniently near Route 9, Exit 21, the property is zoned B-2 and benefits from a 100% occupancy rate with a remaining lease term of four years. The asking price is $7,895,000, representing a compelling price per square foot of $98.92 and an attractive 8.00% cap rate. This is a rare opportunity to acquire a well-established, high-performing retail asset in a desirable location.

Highlights

  • Three-building retail plaza totaling 79,813± SF.
  • 6,000± SF building at 635 S Main.
  • 5,000± SF building at 655 S Main.
  • 6.0 acres of B-2 zoned land.
  • Pylon and building signage.
  • 13,100 ADT.

Property Details for 635-655 Main St

Property type
Lifestyle centers, Power centers
Square Feet
79,813 SF
Buildings
3
Stories
1
Lot Size (sq. ft)
261,360 SF

Location Insight

City
Middletown
County
Middlesex
State
Connecticut
Latitude
41.539019897133
Longitude
-72.653805432834
635-655 Main St, Middletown, Connecticut

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635-655 Main St
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