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    235 Hanover St Meriden, CT 06451

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    For Sale
    $399,000

    Mixed-use property in downtown Meriden with high CAP potential.

    Property size:
    2,528 SF
    Lot size:
    0.08 Acres

    Property Features for 235 Hanover St

    General Information

    Size
    2,528 SF
    Lot size
    0.08 Acres

    Source: Coldwell Banker Realty | Branford Agent Joe Scarpellino

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Fully Occupied Mixed-Use Investment

    This mixed-use property is fully occupied and located in Meriden's downtown area, near the train station, town green, public library, and major highways. The property consists of three residential studio apartments on the upper level and two commercial retail spaces on the ground level. Each apartment has electric baseboard heating and a separate electric meter. There is also a house meter. Parking includes four spaces behind the building for both residential and retail tenants, as well as on-street parking. The property is currently generating a 10.6 Capitalization Rate (CAP) with all tenants on month-to-month leases and paying below-market rents. There is potential to enhance the property's CAP to 13 or higher by implementing market-based rents. The property size is 2528 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8102768
    Latitude
    41.5351155

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in downtown Meriden with high CAP potential.
    Where is this mixed-use property located?
    The property is located at 235 Hanover St Meriden, CT.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: - High 10.6% Capitalization Rate (CAP) with potential to increase to 13% or higher by raising rents to market value.; - Fully occupied mixed-use property with three residential studio apartments and two commercial retail spaces.; - Prime location in Meriden's vibrant downtown area, near the train station, town green, public library, and major highways.
    (203) 623-4422
    Request Owner's contact information
    235 Hanover St Meriden, CT 06451
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    Meriden, CT 06451
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    235 Hanover St Meriden, CT 06451
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