668 Main Street

Middletown, CT 06457

$2,395,000
Price
—
Beds
5
Baths
11,232 Sq. Ft.
$213 / Sq. Ft.
11,232
Sq. Ft.
$213
per Sq. Ft.

Description

Investors dream - fully leased with value add potential! 18-unit corner brick building located on Main Street in the heart of Downtown Middletown, steps from gourmet restaurants and boutiques. Originally built in 1850, this 11,232 SQ FT building consists of 17 residential units and one ground level retail space. The retail space is leased to a mobile carrier/retailer through 2028 with annual rent escalation, allowing the new owner to focus on executing on the business plan for the 17 residential...Investors dream - fully leased with value add potential! 18-unit corner brick building located on Main Street in the heart of Downtown Middletown, steps from gourmet restaurants and boutiques. Originally built in 1850, this 11,232 SQ FT building consists of 17 residential units and one ground level retail space. The retail space is leased to a mobile carrier/retailer through 2028 with annual rent escalation, allowing the new owner to focus on executing on the business plan for the 17 residential units. The building features four rare 2 beds, 2 bath units, seven 1-bedroom units, and six studio apartments. The building is currently fully leased, giving the new Owner an opportunity to capture the incredible rent upside over time while collecting rent income. The building has all separate gas boilers, huge unfinished basement and shared electricity. The units feature great layouts with nice natural light, high ceilings and large bedrooms with good closet space. The current owner has recently replaced some of the units windows, appliances and carpeting. Easy access to route 9 and a short drive/walk to Wesleyan University. This corner brick building is located near the beautiful, historic town center with over 7 walkable blocks of different restaurants and shops, featuring dozens of choices of dining, art, music, entertainment and unique finds. Neighborhood attractions include: Perkatory Coffee Roasters; Eli Cannons Tap Room; The Whey Station; Luce. Become part of this exciting tow
  1. Listed by John Hill • Seabury Hill REALTORS
    P: (203) 562-1220 C: (203) 675-3942 jack@seaburyhill.com

Property Details for 668 Main Street

Location
Downtown
Neighborhood
N/A

Location

Listing Courtesy of Seabury Hill REALTORS, John Hill
Add your commute
LISTING UPDATED: 04/17/2024 02:31 PM

Property Details for 668 Main Street

StatusActive
MLS #24003344
Days on Market46
Taxes$23,927 / year
HOA Fees-
Condo/Co-op Fees-
Compass Type-
MLS Type-
Year Built1850
Lot Size0.09 AC / 3,920 SF
CountyMiddlesex County

Location

Listing Courtesy of Seabury Hill REALTORS, John Hill
Add your commute

Building Information for 668 Main Street

Stories-Residences18Year Built1850Lot Size0.09 AC / 3,920 SF

Payment Calculator

$15,064 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,070

Property Taxes

$1,994

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 668 Main Street

Summary
Property and Location
  • Directions: 668 Main Street corner of Main Street & Rappallo Avenue
  • Flood Zone: No
  • Latitude: 41.565163
  • Longitude: -72.65197
  • State: Connecticut
Parking
  • Parking Spaces Covered: 0
  • Parking Spaces Per 1000 Sq Ft: 0
  • Parking Spaces Uncovered: 0
  • Parking Total Spaces: 0
HOA and Fees
  • Tax Year: July 2023-June 2024
  • Property Tax: $23,927
Interior and Exterior Features
Interior Features
  • Cooling System: None
  • Heat Type: Hot Water
  • Rooms Total: 0
Property
Property and Assessments
  • Construction Description: Brick
  • Foundation Type: Brick, Stone
  • Present Use: Residential apts and 1 retail
  • Road Frontage Description: Municipal Street, Paved Road
  • Roof: Flat
  • Sq Ft Source: Public Records
  • Year Built: 1850
  • Bank Owned Property: No
Lot Information
  • Documents Available: Lead Disclosure, None
  • Lot Description: Corner Lot
  • Parcel Number: 1003609
  • Sq Ft Total: 11232.0
  • Zoning: B-1
Utilities
  • Heat Fuel Type: Natural Gas
  • Sewage System: Public Sewer Connected
  • Utilities Available: Electric, Gas
  • Water Source: Public Water Connected
Multi Family
Income and Expenses
  • Gross Annual Expense: 69454
  • Gross Annual Income: 252390
  • Net Operating Income: $182,936
  • Total Number of Units: 18
Building Details
  • Number of Tenants: 18
Unit 1
  • Listing Key: 138B9D1CB21D6382E063D501100A87BC
  • Unit Entry Order: 1
  • Unit Full Baths: 1
  • Unit Modified Date: 04-17-2024
  • Unit Monthly Rent: $1,250
  • Unit Number Of: 1
  • Unit Type: Office
Unit 2
  • Listing Key: 138B9D1CB21D6382E063D501100A87BC
  • Unit Appliances: Oven/Range,Refrigerator
  • Unit Entry Order: 2
  • Unit Full Baths: 1
  • Unit Modified Date: 04-17-2024
  • Unit Monthly Rent: $975
  • Unit Number Of: 7
  • Unit Type: 1 Bedroom
Unit 3
  • Listing Key: 138B9D1CB21D6382E063D501100A87BC
  • Unit Appliances: Oven/Range,Refrigerator
  • Unit Entry Order: 3
  • Unit Full Baths: 2
  • Unit Modified Date: 04-17-2024
  • Unit Number Of: 4
  • Unit Type: 2 Bedrooms
Unit 4
  • Listing Key: 138B9D1CB21D6382E063D501100A87BC
  • Unit Appliances: Oven/Range,Refrigerator
  • Unit Entry Order: 4
  • Unit Full Baths: 1
  • Unit Modified Date: 04-17-2024
  • Unit Number Of: 6
  • Unit Type: Efficiency

Property History for 668 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 668 Main Street

Taxable ValueLand$161,000Additions$520,680Total$681,680
Tax Record2023$23,927 ($1,994 / month)
Home Facts
Total Finished SqFt11,232 SqFtAbove Grade Finished SqFt11,232 SqFtStories3Lot Size3,920 SqFtStyleOffice BuildingYear Built1850ZoningB-1CountyMIDDLESEXAPNMTWN M:22 L:0227

Schools near 668 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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668 Main Street is for sale in Middletown, CT 06457. This property was listed for sale on March 13, 2024 by Seabury Hill REALTORS, it's currently listed at $2,395,000. It has been on the market for a total of 46 days and was last sold on December 21, 2022. This listing's school district is Middletown School District. Nearby schools include Farm Hill School, Beman Middle School and Middletown High School. 668 Main Street is a 0-bed, 5-bath, 11,232 sqft built in 1850.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Seabury Hill REALTORS, John Hill

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.