Mixed Use For Sale - Downtown Chester

Retail-Commercial for Sale
Catylist Listing ID: 30588212
Property Subtypes: Mixed Use, Street Retail
Building Size (RSF): 4,949 SF
Gross Building Area: See Agent
Sale Price: $419,500
Unit Price: $84.76 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 12/4/2020

Overview / Comments

Great Investment property on a highly visible corner lot on Main St. and Rte. 154 just steps from downtown Chester. Two long-term commercial tenants occupy the first floor with 3 apartments on 2nd floor, 2 two-bedroom (one with separate entrance) and 1 one-bedroom. The building was completely renovated in 1986 with all new mechanicals, electrical, plumbing as well as all interior finishes throughout, including new sheet rock and paint in apartment bathrooms and kitchens. The exterior has been maintained on a regular basis, most recently a few months ago when the entire facade received professional detailing of siding, trim and flashing maintenance. The two (2) first floor commercial units are in excellent condition with above average finishes and well maintained by each tenant. Each unit has independent oil heat and central air with separate metered utilities. All apartment units have individual hot water heaters in basement and each has electric heat with all utilities paid by tenants. There is ample parking for all tenants and guests at the rear of the building. The entire lot was repaved 8 years ago and is in excellent condition. Lighting is controlled by lighting sensors for both the parking lot area and the common areas within the building.

Attachments & Media

Additional Details

Nearest MSA: Hartford-East Hartford-Middletown
County: Middlesex
Tax ID/APN: 15/166
Zoning: R-5
Retail Clientele: General
Largest Nearby Street: Middlesex Turnpike (Route 154)
Tenancy: Multiple Tenants
Number of Stories: 2
Property Condition: Good
Heat Type: Oil
Air Conditioning: Engineered System
Zoning Description: R-5
Water Service: Municipal
Sewer Type: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,432 7,176 21,218
Median Age: 44.34 47.73 47.08
Households: 1,054 3,139 8,906


Photograph of Listing Agent

Ronald E. Lyman

Lyman Real Estate CTCList Member
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