Property profile

73 Ferry St Middletown, CT 06457

FOR LEASE
Showrooms
Property ID
US15-0643937
1,365 SF 0.06 ac lot Built 1920
Individually Owned 12-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 1,365 square foot commercial property located at 73 Ferry Street in Middletown, CT, presents a unique investment opportunity. Currently operating as a well-established bar, this turnkey business boasts a welcoming atmosphere and strong college-town clientele. The property's existing infrastructure includes income-generating amenities such as pool tables, a jukebox, and an ATM machine (to be installed). The current setup is ideal for an entrepreneur looking to own and operate a thriving neighborhood or college bar, capitalizing on the existing customer base and revenue streams. The asking price of $450,000 reflects the property's immediate earning potential and significant upside. Beyond the existing business, the property offers additional development potential. The rear of the lot presents a possibility for the construction of a two-family house, providing further investment opportunities and potential for increased revenue streams. This property is a rare find, combining a profitable existing business with significant future development potential in a desirable location. The property is situated in Middletown, CT, offering easy access to local amenities and a vibrant community. This is an exceptional opportunity for a savvy investor seeking a strong return on investment in a turnkey commercial property with significant expansion possibilities. The property is ready for immediate occupancy and operation, allowing for a seamless transition and quick start to generating income. Don't miss this chance to own a piece of Middletown's thriving commercial landscape.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1920
Construction FRAME
Total area 1,365 SF
Lot 0.06 ac (2,614 SF)
Zoning code B-1
APN MTWN M:22 L:0569
UPID US15-0643937

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
  • Bar & Pub
  • Bar & Pub

Location

73 Ferry St Middletown, CT 06457
Middletown metro Census 541600 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$290k

Owner & transaction history

since 2013
5 recorded transactions
2018
Price N/A
2017
Price N/A
2013
$50,000
1969
Price N/A
1969
Price N/A

Zoning & alternative use

B-1 · Middletown, CT
Zoning description

for the B-1 Zone, which shall be as required in accordance with the zoning codes for the underlying Zone, the following bulk requirements are deemed to be the minimum allowable in the Redevelopment Design District. Parce…

General category COMMERCIAL

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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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