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102 & 106 Court St Middletown

$ 1,950,000.00

106 Court St, Middletown, CT, USA
  • Property ID: 19803
  • Post Updated: 2022-07-05 16:52:11
  • Status:
  • Area: 12695 sq ft
  • Year built: 1942

Description

Harding Commercial Real Estate is proud to bring this turnkey investment property with significant recurring cash flow and minimal maintenance requirements to market. The two properties are separate with their own utilities and systems but they do sit side by side and function as a single three unit property essentially. The 106 Court St building is home to one of Middletown’s most popular nightlife and fine-dining establishments, Mezzo Grille. With their incredibly popular outdoor patio and bar they had very little difficulty navigating the uncertainty that has affected their industry recently. Next door at 102 Court St, Niuda Noodle serves delicious sushi and noodles on the first floor and just upstairs is a new fully remodeled three bedroom apartment. Each of the tenants pays for their own utilities including water usage. This stabilized investment property is fully leased and will produce substantial and immediate income for a new owner. The buildings sit right in the heart of downtown Middletown and share the block with City Hall as well as the massive public parking area, Melilli Plaza. The city of Middletown’s idyllic downtown is experiencing a surge in both private and public investment at the moment and property values are expected to increase significantly in the coming years as a result. This property would be a perfect fit for an investor or investment group looking to create value through cap rate compression by enhancing portfolio size. The property has been priced to sell so please do not hesitate to contact Brendan Kelly with questions or to set up a showing.

Please call with any questions or to set up a showing
Brendan Kelly
Cell: (860) 463-3326
Office: (860) 344-5551
brendan@hardingdevelopment.com

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