Technical
Financial
Distress signals
Property profile

55 Centennial Ave Meriden, CT 06451

FOR SALE
Showrooms
Property ID
US15-0598359
6,000 SF 0.48 ac lot Built 1978
Individually Owned 38-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 6,000-square-foot retail property, formerly a bank branch, is available for purchase at $780,000 ($130/SF). Located at 55 Centennial Avenue in Meriden, Connecticut (06451), this single-story, 1978-built building sits on a 0.48-acre lot and offers convenient access to major thoroughfares. The property features 23 parking spaces and a prominent monument sign, ensuring high visibility. Its C-2 zoning allows for a variety of commercial uses. The building boasts a drive-thru lane, a valuable asset for many businesses. Nearby retailers include CVS Pharmacy, Dunkin', Taco Bell, Family Dollar, and Advance Auto Parts, indicating a strong commercial presence in the area. The property is currently vacant and will be sold with a two-year deed restriction prohibiting the operation of another financial institution. This presents a unique opportunity for investors and entrepreneurs seeking a well-located, versatile commercial space in a thriving Connecticut market. The property's size, location, and existing infrastructure make it an ideal candidate for redevelopment or repurposing. This is a rare opportunity to acquire a substantial commercial property in a desirable location.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1978
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 6,000 SF
Lot 0.48 ac (21,000 SF)
Zoning code C-2
APN MERI M:621 B:193 L:43-45
UPID US15-0598359

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Bank Loan Service
  • Atm
  • Financial Advisor

Location

55 Centennial Ave Meriden, CT 06451
Meriden metro Census 170600 NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$325k
CAP Approach CAP
by Request
Comparable Approach Comparable
$576k
Blend (final) Blend
$540k

Owner & transaction history

since 1987
1 recorded transaction
1987
$575,000

Zoning & alternative use

C-2 · Meriden, CT
Zoning description

ltiple-Family/Professional Office District. § 213-22 R-H Residential Historic District. Article V Commercial Districts § 213-23 C-1 Central Commercial District. § 213-24 C-1-A Central Commercial Annex District. § 213-25…

General category COMMERCIAL
Top alternative use upside
Restaurant $875,000 +140.4%
Office building $670,000 +83.9%
Retail stores $650,000 +78.4%

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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