9,890 SF

commercial

9,890 SF

13 Portland Street
Middletown, Connecticut 06457

Price

$1,300,000

Price/SF

$131.45/SF

Building Size

9,890 SF

Lot Size

0.26 acres

Year Built

1900

NOI

$106,850

Units

6

Property Description

Exceptional mixed-use investment opportunity in Middletown, with views of CT River and landmark Arrigoni Bridge. Offering strong in-place cash flow with immediate upside potential. Features six fully occupied residential apartments (2-1bds, 2-2bds, 2-3bds) plus two 1,600 square foot commercial garage/workshop spaces, creating strong stability. One commercial garage is currently leased, while the second vacant garage presents a compelling opportunity for an owner-user or investor seeking additional income. If you're a contractor, workshop operator, have storage needs, or small business owner, the vacant commercial space (currently listed for rent) allows a buyer to occupy the space while offsetting ownership costs through the residential income stream. The residential apartments have been updated over time, have newer boilers/water heaters and offer a strong unit mix of one-, two-, and three-bedroom layouts with broad tenant appeal. Property features off-street parking, and excellent access to Route 9, downtown Middletown, shopping, restaurants, and commuter routes. * 8 total income-producing spaces * 6 fully leased residential apartments * 2 commercial garage/workshop units * One leased commercial space + one vacant 1,600 SF commercial unit * Owner-user opportunity (act soon before rented) * Minutes from Route 9 * Walk to downtown and Wesleyan - This is a rare, stable cash flow, turnkey opportunity!!!! Property to be conveyed in as-is condition.

Additional Details

Zoning

MXI

MLS Number

24174579

Property ID

4b45a8c7-683c-4e34-9dbe-0dadf3eff85b

MLS Information

MLS#: 24174579

Listed by: William Pitt Sotheby's International Realty

Agent: Sacha Armstrong • (860) 538-7778 • sacrockett@wpsir.com

This property information is provided by SmartMLS. Data may be subject to change. All information should be independently verified.

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) Program of SmartMLS. Real estate listings held by brokerage firms other than Great River Commercial are marked with the IDX logo.

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