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    55 Centennial Ave Meriden, CT 06451

    For Sale
    $780,000

    Prime Vacant Bank, 6,000 SF, $780K

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 6,000-square-foot retail property, formerly a bank branch, is available for purchase at $780,000 ($130/SF). Located at 55 Centennial Avenue in Meriden, Connecticut (06451), this single-story, 1978-built building sits on a 0.48-acre lot and offers convenient access to major thoroughfares. The property features 23 parking spaces and a prominent monument sign, ensuring high visibility. Its C-2 zoning allows for a variety of commercial uses. The building boasts a drive-thru lane, a valuable asset for many businesses. Nearby retailers include CVS Pharmacy, Dunkin', Taco Bell, Family Dollar, and Advance Auto Parts, indicating a strong commercial presence in the area. The property is currently vacant and will be sold with a two-year deed restriction prohibiting the operation of another financial institution. This presents a unique opportunity for investors and entrepreneurs seeking a well-located, versatile commercial space in a thriving Connecticut market. The property's size, location, and existing infrastructure make it an ideal candidate for redevelopment or repurposing. This is a rare opportunity to acquire a substantial commercial property in a desirable location.

    Property Features for 55 Centennial Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,000 SF
    Lot Size
    20,909 SF

    Building Details

    Year Built
    1978
    Buildings
    1
    Stories
    1

    HighLights

    • $780,000 asking price for this 6,000 SF retail property.
    • Vacant, former bank branch with a drive‑thru.
    • Located in Meriden, CT at 55 Centennial Ave, on a 0.48‑acre lot with 23 parking spaces.
    • Features C‑2 zoning and a large monument sign.
    • Built in 1978, single‑story building with a price per square foot of $130.
    • Broker co‑op available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wells Fargo Bank Bank Wells Fargo ATM Atm Wells Fargo Advisors Investment Service

    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
    -72.8231629
    Latitude
    41.5396188

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    FAQs

    What type of property is this?
    Individual retail property - Prime Vacant Bank, 6,000 SF, $780K
    Where is this individual retail property located?
    The property is located at 55 Centennial Ave Meriden, CT.
    What is the asking price?
    The asking price for this property is $780,000.
    What are key features of this property?
    This property features: $780,000 asking price for this 6,000 SF retail property.; Vacant, former bank branch with a drive-thru.; Located in Meriden, CT at 55 Centennial Ave, on a 0.48-acre lot with 23 parking spaces.
    Request Owner's contact information
    55 Centennial Ave 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
    55 Centennial Ave Meriden, CT 06451
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