500 Burritt St New Britain, CT 06053-3615
This exceptional 8,904-square-foot flex space in New Britain, Connecticut, presents a compelling value-add opportunity. Located at 500 Burritt Street, 06053, this two-story building is zoned A1 and offers significant potential. The property features one loading dock and is priced at $39.31 per square foot. The building boasts a prominent storefront and a spacious open floor plan, ideal for a variety of uses. Recent improvements include a new roof and columns, ensuring the structure is well-maintained. All essential utilities are in place. While currently configured as retail/industrial space, the property's zoning allows for potential conversion into multifamily residences, subject to buyer due diligence. Off-street parking is conveniently located at the rear of the building. This property offers a unique blend of versatility and potential, making it an attractive investment in a desirable location. The building's size and layout provide ample space for customization and adaptation to suit a wide range of business needs or residential conversion plans. This is a rare opportunity to acquire a well-located property with significant upside potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
A1 · New Britain, CTNew Britain. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.