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Middletown Mixed-Use Investment Opportunity

138 Washington Street, Middletown, CT 06457

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For Sale

$1,100,000

Mixed-use property with retail and residential units in Middletown.

Type:Commercial

Property size:

7,193 SF

Lot size:

0.46 Acres

Price / SF:

$152/SF

HighLights

Heavy cash flow with zero vacancy across 9 units (2 retail, 6 one‑bedroom, 1 studio).
Offered at an 8.3 cap rate.
Value‑add potential through apartment upgrades to increase rents.
Potential expansion with construction of 3 additional units (plans available).
Expansive parking lot allows for additional income generation through space rentals.
Separately metered electricity and gas for each unit.

We can help!

Listing Contact

BRENDAN KELLY

For Sale

$1,100,000

Mixed-use property with retail and residential units in Middletown.

Type:Commercial

Property size:

7,193 SF

Lot size:

0.46 Acres

Price / SF:

$152/SF

Added:: Oct 23, 2025
Days on Market:: 231
Last Refresh:: Apr 5 at 9:01 pm

Property Features for 138 Washington Street

General Information

Standard status: Active
Size: 7,193 SF
Lot size: 0.46 Acres
Property subtype: Commercial

Building Details

Year Built: 1830

We can help!

Listing Contact

BRENDAN KELLY

Listing agent BRENDAN KELLY License #REB-0795159

Listing office Harding Commercial Real Estate

Listing date Oct 23, 2025

Source Corcoran

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

All listing content including descriptions, pricing, images are the copyrighted material of Harding Commercial Real Estate

HighLights

Heavy cash flow with zero vacancy across 9 units (2 retail, 6 one‑bedroom, 1 studio).
Offered at an 8.3 cap rate.
Value‑add potential through apartment upgrades to increase rents.
Potential expansion with construction of 3 additional units (plans available).
Expansive parking lot allows for additional income generation through space rentals.
Separately metered electricity and gas for each unit.

Overview

Located at 138 Washington Street in Middletown, this classically designed mixed-use property is available for sale. The property consists of 9 units totaling approximately 7,193 square feet. The unit mix includes 2 ground-floor retail units, 6 one-bedroom apartments, and one studio apartment. Each unit has separate meters for electricity and gas. Recent improvements include a recently painted exterior, recarpeted common hallways, and hot water heaters replaced within the past year or two. The property offers a no-car downtown live, work, and play lifestyle in a walkable city. There is potential for expansion with the construction of 3 additional units, and plans are available upon request. The ground floor retail units can be converted to apartments at lease expiration. The expansive parking lot offers more spaces than necessary, allowing additional income generation through space rental.

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Middletown
County: Middlesex
State: Connecticut
Longitude: -72.6534
Latitude: 41.562

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For sale
Mixed-use properties
CT
Middletown
06457
138 Washington Street

What type of property is this?

Mixed-use property - Mixed-use property with retail and residential units in Middletown.

Where is this mixed-use property located?

The property is located at 138 Washington Street Middletown, CT.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: Heavy cash flow with zero vacancy across 9 units (2 retail, 6 one‑bedroom, 1 studio).; Offered at an **8.3 cap rate.**; Value‑add potential through apartment upgrades to increase rents.