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Property profile & analytics
FOR SALE
Showrooms

687 Straits Tpke Middlebury, CT 06762

17,742 SF 1.8 ac lot Built 1990
Individually Owned 10-yr Hold ~ Est. High Equity
Property ID
US15-1247329
Property summary
AI-generated overview

This exceptional three-story, 17,742 square foot Class B office building, constructed in 1990, presents a unique leasing opportunity in Middlebury, CT. Situated on 1.8 acres of land, the property offers ample parking and boasts excellent visibility thanks to a large pylon sign. Three suites are currently available, ranging from a minimum of 850 square feet to a maximum contiguous space of 6,000 square feet. The building features a variety of configurations to suit diverse needs, including medical, traditional, and creative office spaces. Suite options include waiting areas, private offices, exam rooms, restrooms, kitchens, and storage closets. The largest suite (approximately 6,000 sq ft) offers a comprehensive layout ideal for a medical practice, encompassing multiple private doctor's offices, exam rooms, a large waiting area, and ample support spaces. The building is conveniently located with easy access to I-84 and Route 8. The property features 8-foot ceilings and is professionally managed. Zoned CA40, the building offers a versatile space for various business types. Taxes are $2.69 per square foot. The building includes elevators. Utilities are not included in the lease rates. Sewer costs are an additional $327 per month for the largest suite.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1990
Construction STEEL FRAME
Total area 17,742 SF
Lot 1.8 ac (78,408 SF)
Zoning code CA40
APN MIDD M:4-06 L:440
UPID US15-1247329
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Meredith Carbone-Doyle, DO Medical Clinic
  • Jessica Bursell, PA-C Physician
  • Naugatuck Valley Ob/gyn Asscts Physician
  • David Polke, MD Physician
  • Rachel Leonardi, DO Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.96M
Blend (final) Blend
$1.68M
Owner & transaction history
Tripod Real Estate · 10 yrs held
Tripod Real Estate
since 2015
5 recorded transactions
2015
Price N/A
2015
$2.0M
2007
$1
1992
Price N/A
1990
$300,000
Zoning & alternative use
CA40 · Middlebury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $2.6M +110.0%
Apartment house (5+ units) $1.8M +41.6%
Auto repair, garage $1.6M +30.2%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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