876 Newfield St Middletown, CT 06457-1857
- Showrooms
- 3,221 SF
- 0.33 lot acres
Current Use by Public Records
- Newfield Rest Home Inc / Assisted Living Facility
Property Details for 876 Newfield St
- Year built
- 1900
- Construction
- FRAME
- Lot size
- 0.33 lot acres
- Property size
- 3,221 SF
- Zone code
- NPC
- Property type
- Showrooms
- APN
- MTWN M:18 L:0024
- APU
- MTWNM18L0024
Description
This exceptional 1.2-acre commercial land parcel presents a compelling redevelopment opportunity in Middletown, Connecticut. Located at the highly visible intersection of Newfield Street and Mile Lane, this property boasts 145 feet of frontage on Newfield Street, a major thoroughfare. The site's strategic location places it within a vibrant commercial corridor, alongside numerous established national businesses, ensuring high visibility and accessibility. The asking price for this prime real estate is $650,000. The property includes the existing building at 876 Newfield Street, offering approximately 3200 square feet of space, although the condition and suitability of this structure for continued use are not guaranteed and should be independently verified. The zoning is designated as commercial, allowing for a wide range of development possibilities. The seller is motivated, and all offers will be considered. This is an exceptional chance to acquire a significant piece of commercial real estate in a thriving Connecticut market. The property's size and location make it ideal for a variety of commercial ventures, from retail to office space, and its high visibility ensures strong potential for attracting customers and clients. The 06457 zip code offers easy access to major transportation routes and amenities. This is a rare opportunity to capitalize on a prime location in a growing area. Serious inquiries are encouraged.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $500,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $535,000
- 6.5%
- $475,000
- 7%
- $540,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $500,000
- Geo Method
- $525,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $385,000
- Retail
- $395,000
- Mixed-Use
- $385,000
- Hospitality
- $470,000
- Educational
- $505,000
- Residential Income
- $445,000
- Energy
- $405,000
- Income-Based Land
- $405,000
- Food Service
- $525,000
Location Insight
- Map
- Local Demand
- City
- Middletown
- County
- Middlesex
- State
- Connecticut
- Longitude
- -72.6727
- Latitude
- 41.5829
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA