687 Straits TpkeMiddlebury, CT 06762

Property Details for 687 Straits Tpke

Year built

1990

Construction

STEEL FRAME

Lot size

1.80 AC

Property size (Sq ft)

17,742 SF

Zone code

CA40

Property type

Other commercial real estate

Property subtype

Showrooms

APN

MIDD M:4-06 L:440

APU

MIDDM406L440

Description

This exceptional three-story, 17,742 square foot Class B office building, constructed in 1990, presents a unique leasing opportunity in Middlebury, CT. Situated on 1.8 acres of land, the property offers ample parking and boasts excellent visibility thanks to a large pylon sign. Three suites are currently available, ranging from a minimum of 850 square feet to a maximum contiguous space of 6,000 square feet. The building features a variety of configurations to suit diverse needs, including medical, traditional, and creative office spaces. Suite options include waiting areas, private offices, exam rooms, restrooms, kitchens, and storage closets. The largest suite (approximately 6,000 sq ft) offers a comprehensive layout ideal for a medical practice, encompassing multiple private doctor's offices, exam rooms, a large waiting area, and ample support spaces. The building is conveniently located with easy access to I-84 and Route 8. The property features 8-foot ceilings and is professionally managed. Zoned CA40, the building offers a versatile space for various business types. Taxes are $2.69 per square foot. The building includes elevators. Utilities are not included in the lease rates. Sewer costs are an additional $327 per month for the largest suite.

• CAP approach

  CAP return

  Valuation

  6%

  $4,311,926

  6.5%

  $3,980,239

  7%

  $3,695,936

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,841,788

  Geo Method

  $5,841,788

• Alternative Use

  Use

  Valuation

  Residential

  $3,357,480

  Hospitality

  $3,075,434

  Educational

  $2,558,725

  Medical

  $2,646,724

  Retail

  $3,980,239

Location Insight

City

Middlebury

County

New Haven

State

Connecticut

Latitude

41.5283

Longitude

-73.0847

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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