Mixed-Use Building on Main
For Sale
$1,450,000
Pending
480 Main Street, Middletown, CT 06457
Ten-unit mixed-use building with commercial and residential spaces.
Property Size13,837 SF
Lot Size0.11 Acres
Days on Market176
Property Features for 480 Main Street
General Information
Standard status
Pending
Size
13,837 SF
Lot size
0.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,591
Amenities
Central air
Flat Roof
Level Lot
Steam Heating
Vinyl Flooring
Window Unit Cooling
Wood Flooring
Building Details
Year Built
1917
Listing Agency:
Century 21 AllPoints Realty
(860) 263-2121
Listed By:
LINDY HOYT · License #RES.0830855
Source:
Corcoran
Added: Feb 13
Changed: Aug 8
Last Checked: Aug 8 at 6:13AM
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 Century 21 AllPoints Realty
Investment Insights
Based on property information with market context.
Located on Main Street in Middletown, this mixed-use building features 10 units. The brick building includes 2 established commercial tenants on the ground floor and 8 one-bedroom residential units above, each exceeding 900 square feet. The ground-floor commercial tenants provide income and contribute to CAM payments. Seven of the eight residential units have been modernized in recent years. Tenants are responsible for electric and hot water, which maximizes net income. There is potential for increased value, as current rents are below market rates despite recent renovations. Multiple near-term lease expirations combined with strong comparable rents throughout the neighborhood support income growth for a new owner. The property size is 13,837 square feet. This asset is suitable for an investor seeking a stabilized mixed-use building with reliable income and potential for growth and appreciation.
Key Highlights
- Stabilized mixed‑use building with reliable income.
- Significant value‑add opportunity through rent increases.
- Eight large one‑bedroom residential units, seven recently modernized.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 06457, CT
46,505
Population
22,138
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
94%
High-School Grad
40.7 sq mi
ZIP Area
1,143
Density / Sq Mi
$74,003
Median Household Income
$48,240
Median Earnings
$1,392
Median Rent
$279,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ten-unit mixed-use building with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 480 Main Street Middletown, CT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Stabilized mixed‑use building with reliable income.; Significant value‑add opportunity through rent increases.; Eight large one‑bedroom residential units, seven recently modernized.
