Property profile

138 Washington St Middletown, CT 06457

OFF-MARKET
Other investment properties
Property ID
US15-0657002
7,193 SF 0.46 ac lot Built 1830
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

Located at 138 Washington Street in Middletown, this classically designed mixed-use building contains 9 units totaling approximately 7,193 square feet. The configuration includes two ground-floor retail spaces and seven residential units comprised of six one-bedroom apartments and one studio apartment. Each unit has separate electric and gas metering. The property has had recent exterior painting, common hallway carpeting replacement, and hot water heaters that were replaced within the past one to two years. The building is situated for a walkable downtown environment, and the site includes an expansive parking lot that appears to provide more spaces than required, which could support additional parking-related uses. There is also potential for expansion through the addition of three units, and existing ground-floor retail spaces are configured in a way that could allow conversion to residential use subject to applicable approvals.

Property profile

Verified
Property type Other investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1830
Construction FRAME
Total area 7,193 SF
Lot 0.46 ac (20,038 SF)
Zoning code B-1
APN MTWN M:22 L:0509
UPID US15-0657002

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

138 Washington St Middletown, CT 06457-2830
Middletown metro Census 541600 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$650k
CAP Approach CAP
by Request
Comparable Approach Comparable
$634k
Blend (final) Blend
$650k

Owner & transaction history

since 2026
Last sale
$650,000
6 recorded transactions
2026
$950,000
2024
Price N/A
2006
$650,000
2002
$414,500
2002
Price N/A
1998
$262,000

Zoning & alternative use

B-1 · Middletown, CT
Zoning description

for the B-1 Zone, which shall be as required in accordance with the zoning codes for the underlying Zone, the following bulk requirements are deemed to be the minimum allowable in the Redevelopment Design District. Parce…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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