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
Price cut: $16K (5/21)
$399,000
235 Hanover Street, Meriden, CT 06451
--beds
2,528sqft
Est.:
Multi Family
Built in 1890
-- sqft lot
$398,200 Zestimate®
$158/sqft
$-- HOA
What's special
Commercial retail spacesElectric baseboard heatingSpacious residential studio apartmentsOn-street parkingAmple parking optionsSeparate electric meter
- 127 days
- on Zillow |
- 508 |
- 31 |
Zillow last checked: 7 hours ago
Listing updated: July 27, 2025 at 12:01am
Listed by:
Joe Scarpellino,
Coldwell Banker Realty
Source: Smart MLS,MLS#: 24085159

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 5
- Full bathrooms: 3
- 1/2 bathrooms: 2
Heating
- Forced Air, Electric
Cooling
- None
Appliances
- Included: Electric Water Heater, Water Heater
- Laundry: None
Features
- Basement: None
- Attic: None
- Has fireplace: No
Interior area
- Total structure area: 2,528
- Total interior livable area: 2,528 sqft
- Finished area above ground: 2,528
Property
Parking
- Total spaces: 4
- Parking features: None, On Street, Off Street, Driveway, Private
- Has uncovered spaces: Yes
Features
- Exterior features: Sidewalk
- Has view: Yes
- View description: City
Lot
- Size: 3,920.4 Square Feet
- Features: Corner Lot
Details
- Parcel number: 1176233
- Zoning: C-4
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Units on different Floors
- Property subtype: Multi Family
Materials
- Aluminum Siding
- Foundation: Concrete Perimeter
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1890
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Basketball Court, Near Public Transport, Library, Medical Facilities, Park
HOA
- Has HOA: No
Location
- Region: Meriden
Financial & listing details
- Price per square foot: $158/sqft
- Tax assessed value: $143,150
- Annual tax amount: $5,427
- Date on market: 4/2/2025
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