550 North Main St, Unit C2-6 Southington, CT 06489
Property profile & analytics
550 North Main St, Unit C2-6, Southington, CT 06489
- Showrooms
- 17,824 SF
- 1.68 lot acres
Property ID
US15-0440971
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Step One, LLC / Life Coach / Marriage Or Relationship Counselor
- Edward Jones: Scott Tara L / Financial Advisor
- Re:nu 180 Medspa - Southington, CT / Spa & Massage Center / Alternative Medicine Practice
- Propaganda Ink LLC / Tattoo & Piercing Shop
- Localadzoom LLC / Business To Business Service
Property Details for 550 North Main St
- Year built
- 1984
- Construction
- FRAME
- Lot size
- 1.68 lot acres
- Zone code
- B
- Property type
- Showrooms
- APN
- SOUT M:133 L:069
- APU
- SOUTM133L069
Description
This exceptional investment opportunity presents a stabilized, turn-key multi-tenant property located at 550 N Main St, Southington, CT 06489. The 17,824 square foot building, constructed in 1984, features 17 units across two stories, boasting 14,401 square feet of net rentable space. Currently housing 16 tenants, including a diverse mix of businesses such as massage therapy, medical spa, salon, and insurance agency, the property enjoys a remarkable 97% occupancy rate. The current NOI is $132,048, with a pro-forma NOI of $135,356, yielding an 8.28% cap rate and a pro-forma cap rate of 8.49%. The asking price is $1,595,000, translating to $89.49 per square foot and $93,823.53 per unit. The property sits on a 1.68-acre lot and includes 70 parking spaces. Long-term leases are in place with built-in rent bumps, providing consistent cash flow and significant upside potential. The property is zoned B and offers a mix of retail space on the first floor and office space on the second. Lease options are available, and the ownership is fee simple. This prime location on Main Street's vibrant retail corridor ensures high visibility and convenient access, making it an attractive investment for both owner-occupiers and investors seeking a strong return. The property's strong tenant base, consistent cash flow, and built-in rent increases make this a compelling opportunity in the thriving Southington market.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,550,000
- ML approach
- $1,550,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,210,000
- AI Estimate
- $1,489,000
Market price range: $957k - $2.63MMarket price range: $1.05M - $2.80M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,685,000 Current use
- RETAIL STORES
- $2,050,000 Change: +22% Conversion: Easy
- OFFICE BUILDING
- $1,965,000 Change: +17% Conversion: Easy
- AUTO REPAIR, GARAGE
- $1,790,000 Change: +6% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $1,640,000 Change: -3% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Southington
- County
- Hartford
- State
- Connecticut
- Longitude
- -72.8744
- Latitude
- 41.6149
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$24,377
$168,690
$634,240
$802,930
-
$0.00
$0.00
$0.00
