Attention Investors: Fully Occupied Mixed Use Property! We are seeking investors for a Value-Added Mixed-Use property currently generating an impressive 11.1 Capitalization Rate (CAP). All tenants are currently on month-to-month leases and are paying below-market rents. The new owner has the potential to significantly enhance the property's CAP to 13 or even higher by implementing market-based rents. The property consists of three spacious residential studio apartments on the upper level and two commercial retail spaces on the ground level. It is strategically situated in Meriden's vibrant downtown area, conveniently located near the new train station, town green, public library, and major highways. Each apartment is equipped with electric baseboard heating, ensuring comfortable living. Each unit has its own separate electric meter, along with a house meter. There are ample parking options, including four parking spaces behind the building for both residential and retail units, as well as on-street parking.
For sale
$399,000
235 Hanover Street, Meriden, CT 06451
--beds
2,528sqft
Est.:
Multi Family
Built in 1890
-- sqft lot
$396,800 Zestimate®
$158/sqft
$-- HOA
What's special
Commercial retail spacesElectric baseboard heatingSpacious residential studio apartmentsOn-street parkingAmple parking optionsSeparate electric meter
- 143 days
- on Zillow |
- 528 |
- 30 |
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