1395 Middletown AveNorthford, CT 06472

Property Details for 1395 Middletown Ave

Year built

2002

Construction

STEEL FRAME

Lot size

2.60 AC

Property size (Sq ft)

10,440 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NBRA M:62-B B:33

APU

NBRAM62BB33

Description

This exceptional 10,440-square-foot retail building, formerly a Rite-Aid, presents a unique investment opportunity in Northford, Connecticut. Situated on a 2.6-acre lot, the single-story structure boasts a convenient drive-thru and enjoys unparalleled visibility on Route 17, a high-traffic area with an average daily traffic count exceeding 16,600 vehicles. Built in 2002, the property is zoned B-2 (Central Business District), allowing for a diverse range of uses. Permitted uses include retail stores, professional offices, banks and financial institutions, medical and veterinary offices, restaurants and fast food establishments, hotels and motels, and indoor theaters or assembly halls. The building's ample size and versatile zoning make it ideal for a variety of businesses seeking a prominent location in a thriving community. The property offers significant potential for a business looking to establish a strong presence in Northford. The lease rate is $14 per square foot, NNN.

• CAP approach

  CAP return

  Valuation

  6%

  $2,537,284

  6.5%

  $2,342,109

  7%

  $2,174,815

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,437,508

  Geo Method

  $3,437,508

• Alternative Use

  Use

  Valuation

  Residential

  $1,975,656

  Hospitality

  $1,809,691

  Educational

  $1,505,641

  Medical

  $1,557,423

  Retail

  $2,342,109

Location Insight

City

Northford

County

New Haven

State

Connecticut

Latitude

41.3926

Longitude

-72.7908

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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