Multifamily/Retail Downtown Middletown 138-140 Washington St 7 600 pi² 100% Loué Commerce de détail Immeuble Middletown, CT 06457 1 535 512 $ CAD (202,04 $ CAD/pi²) 8,31% Taux de capitalisation

The beautiful and classically designed mixed use property at 138 Washington Street in Middletown is now being offered for sale. The property generates heavy cash flow over 9 total units and approximately 7,193sf. Property financials are available upon request with a signed non-disclosure agreement. Please email Brendan Kelly at brendan@hardingdevelopment.com to receive the NDA for signature. Call or email Brendan Kelly with questions. Cell (860) 463-3326. Property highlights include:
• Property being offered at an 8.3 cap rate
• 9 total units consisting of 2 ground floor retail units, 6 one-bedroom apartments and one studio apartment.
• Zero vacancy and heavy cash flow.
• Separately metered electricity and gas for each unit.
• Value add potential through apartment upgrades to achieve higher rents.
• Exterior recently painted.
• Common hallways recently recarpeted.
• All hot water heaters replaced within the past year or two.
• Property offers popular no-car downtown live+work+play lifestyle in a walkable city.
• Potential expansion with the construction of 3 additional units. (Plans available upon request)
• Ground floor retail units can be converted to apartments at lease expiration to take advantage of ongoing supply constraints.
• Expansive parking lot offers significantly more spaces than necessary allowing additional income generation through space rental (city rates are $80+ per month per space).