530 Main Street

Middletown, CT 06457

$930,000
Last Sold Price
Beds
15,136 Sq. Ft.
$61 / Sq. Ft.
15,136
Sq. Ft.
$61
per Sq. Ft.

Description

Opportunity for the savvy investor looking to capitalize on adding value by creating a Lifestyle Asset in the heart of Middletown. The asset is in close proximity to Wesleyan University and next to the popular restaurants: Ion, Whey Station, and Luce. Its Only Natural Boutique Grocery Store. This 4 floor asset is 16 units, with 4 storefronts and 12, 1 bedroom apartments. The retail tenants are: a Grocery Store, Boost Mobile, a Barber and one vacant store front. Features of the asset include: 70%...Opportunity for the savvy investor looking to capitalize on adding value by creating a Lifestyle Asset in the heart of Middletown. The asset is in close proximity to Wesleyan University and next to the popular restaurants: Ion, Whey Station, and Luce. Its Only Natural Boutique Grocery Store. This 4 floor asset is 16 units, with 4 storefronts and 12, 1 bedroom apartments. The retail tenants are: a Grocery Store, Boost Mobile, a Barber and one vacant store front. Features of the asset include: 70% new windows, hard wire smoke detectors and sprinkler system. The tenants pay electric. A capital infusion through enhancing the common areas and remodeling the units will make this asset a lifestyle community. Closed comps of $122k-$135k/unit can be attained for modern units in Middletown. Parking for this asset is on side streets for free or tenants can get a residential permit for ~$55/mth to park in some of the parking lots. Melilli Lot is the closest one with great lighting & access to all amenities.
  1. Listed by Lisa Cozzi • Berkshire Hathaway NE Prop.
    P: (860) 215-3634 C: (860) 215-3634 mulveylisa@gmail.com

Property Details for 530 Main Street

Location
Downtown
Neighborhood
N/A
Garage Parking Info
Paved, On Street Parking, Off Street Parking

Location

Listing Courtesy of Berkshire Hathaway NE Prop., Lisa Cozzi

Sold By Ethos Rlty, LLC, Michael Eshetu

Add your commute
LISTING UPDATED: 04/18/2024 06:25 PM

Property Details for 530 Main Street

StatusClosed
MLS #170554217
Days on Market193
Taxes$23,062 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeNon-Residential
MLS Type-
Year Built1860
Lot Size0.09 AC / 3,920 SF
CountyMiddlesex County

Location

Listing Courtesy of Berkshire Hathaway NE Prop., Lisa Cozzi

Sold By Ethos Rlty, LLC, Michael Eshetu

Add your commute

Building Information for 530 Main Street

Stories-Residences16Year Built1860Lot Size0.09 AC / 3,920 SF

Payment Calculator

$6,997 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,075

Property Taxes

$1,922

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 530 Main Street

Summary
Property and Location
  • Directions: Per GPS
  • Latitude: 41.56345
  • Longitude: -72.65123
  • State: Connecticut
Parking
  • Parking Total Spaces: 0
HOA and Fees
  • Tax Year: July 2023-June 2024
  • Property Tax: $23,062
Interior and Exterior Features
Interior Features
  • Cooling System: None
  • Heat Type: Hot Air
Property
Property and Assessments
  • Construction Description: Frame
  • Foundation Type: Concrete
  • New Construction Type: No/Resale
  • Present Use: Retail/Residential
  • Road Frontage Description: Paved Road
  • Roof: Tar/Gravel
  • Sq Ft Source: Public Records
  • Year Built: 1860
  • Bank Owned Property: No
  • Sq Ft Residential: 8064
  • Sq Ft Retail: 2969
Lot Information
  • Documents Available: Lead Disclosure
  • Lot Description: Level Lot
  • Parcel Number: 1011864
  • Sq Ft Total: 15136.0
  • Zoning: B-1
Utilities
  • Heat Fuel Type: Electric, Natural Gas
  • Sewage System: Public Sewer Connected
  • Utilities Available: Electric Available, Gas Available, Phone Available, Cable Available
  • Water Source: Public Water Connected
Multi Family
Income and Expenses
  • Gross Annual Expense: 109805
  • Gross Annual Income: 218520
  • Net Operating Income: $108,715
  • Total Number of Units: 16
Building Details
  • Unit Count: 0

Property History for 530 Main Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 530 Main Street

Taxable ValueLand$161,000Additions$496,050Total$657,050
Tax Record2023$23,062 ($1,922 / month)
Home Facts
Total Finished SqFt11,033 SqFtAbove Grade Finished SqFt11,033 SqFtStories4Lot Size3,920 SqFtStyleOffice BuildingYear Built1860ZoningB-1CountyMIDDLESEXAPNMTWN M:22 L:0566

Schools near 530 Main Street

This home is within Middletown School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 7 to 8
Public - 9 to 12
Public - 3 to 5
Rating
School
Distance
Farm Hill School
PublicK to 5

Beman Middle School
Public7 to 8

Middletown High School
Public9 to 12

Icm - Spencer
Public3 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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Listing Courtesy of Berkshire Hathaway NE Prop., Lisa Cozzi

Based on information from one of the following Multiple Listing Services: Darien MLS, Smart MLS and Greenwich Multiple Listing Service. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Darien MLS, Smart MLS and Greenwich Multiple Listing Service is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.