184 High St Middletown, CT 06457
- Investment properties
- 7,066 SF
- 0.20 lot acres
Current Use by Public Records
- Investment properties
Property Details for 184 High St
- Year built
- 1924
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.20 lot acres
- Property size
- 7,066 SF
- Zone code
- DVD
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- MTWN M:24 L:0158
- APU
- MTWNM24L0158
Description
This exceptional 10,878 square foot rooming house presents a unique investment opportunity within the heart of Wesleyan University's campus in Middletown, Connecticut. Situated on a 0.2-acre lot at 184 High Street, this property enjoys a highly desirable location directly across from the site of Wesleyan's new $255 million science building. Currently configured as a 19-room rooming house, the property offers significant potential for redevelopment and increased rental income. The entire 10,878 square feet is currently vacant, providing a blank canvas for a future owner to renovate and reposition the property to meet current market demands. Given its proximity to the university and the anticipated increase in student and faculty population due to the new science building, this property is poised for strong rental returns. The property's location in Middlesex County, Connecticut, within the Wesleyan University Campus submarket, ensures a consistent stream of potential tenants. This is a rare opportunity to acquire a privately owned property within the Wesleyan University campus, offering exceptional long-term investment prospects. The existing structure provides a solid foundation for a variety of uses, subject to local zoning regulations. This property is being offered as a single-tenant building.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $500,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $545,000
- 6.5%
- $545,000
- 7%
- $565,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $575,000
- Geo Method
- $540,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $645,000
- Retail
- $575,000
- Mixed-Use
- $530,000
- Hospitality
- $525,000
- Educational
- $520,000
- Residential Income
- $605,000
- Energy
- $525,000
- Income-Based Land
- $690,000
- Food Service
- $660,000
Location Insight
- Map
- Local Demand
- City
- Middletown
- County
- Middlesex
- State
- Connecticut
- Longitude
- -72.6541
- Latitude
- 41.5545
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
