100 Main St Middletown, CT 06457-3422

Property Details for 100 Main St

Year built

1977

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.82 lot acres

Property size

14,334 SF

Zone code

B-1

Property type

Showrooms

APN

MTWN M:24 L:0274

APU

MTWNM24L0274

Description

This exceptional investment opportunity presents a fee-simple interest in a 14,000 square foot, three-tenant medical and retail building situated in Middletown, Connecticut. The property boasts a 100% occupancy rate, anchored by DaVita Dialysis, a leading kidney care provider, occupying 12,000 square feet and holding a significant lease term. Two additional tenants, Edible Arrangements and Abyssinian Food, complement the property's diverse tenant mix. Built in 1960 and renovated in 2009, the single-building property sits on a 0.82-acre lot. The Net Lease (NNN) structure minimizes landlord responsibilities, offering a passive investment with a current NOI of $296,396 and a 7.20% cap rate. The asking price is $4,116,600. All tenants have 2% annual rent bumps built into their leases, and lease options are available. The weighted average lease term (WALT) is 5.4 years, providing long-term stability and predictable cash flow. The property benefits from its high-visibility location off US Highway 9, serving a strong demographic area with an average household income of $118,259 within a 5-mile radius. This offering presents a compelling investment in a stable, growing industry within a desirable Connecticut market.

Location Insight

City

Middletown

County

Middlesex

State

Connecticut

Longitude

-72.6474

Latitude

41.5581

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments