Catylist ID:
#767009
43 Main Street - New Milford
Shopping Center
for Sale
Also listed as Retail-Commercial, Office
| Catylist Listing ID: | 767009 |
| Property Subtypes: | Community Center, Mixed Use, Neighborhood Center, Power Center, Strip Center, Other |
| Building Size (RSF): | 21,150 SF |
| Gross Building Area: | 2,150 SF |
| Gross Land Area: | 0.98 Acres |
| Sale Price: | $1,895,000 |
| Unit Price: | $89.60 PSF |
| Ceiling: | 14 ft. |
| Property Use Type: | Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business |
| Building Name: | 43 Main Street - New Milford |
| Usable Size (USF): | 21,150 SF |
| Sale Terms: | Cash to Seller, Purchase Money Mortgage |
| Last Updated: | 6/1/2020 |
Overview / Comments
|
The property is also available for sale at $1,895,000. The projected Net Operating Income for 2019 is $193467! New leases include Domino's Pizza, Johanna's restaurant expansion and extension, The News-times relocation and extension, and the Physical Therapy Group. Another 3150 s.f. for lease is pending. This entire property is now available for sale and the remaining space will be for ready for lease. This is the largest retail property available in the vicinity of “The New Milford Green”. There will be a total of 8,670 s.f. of ground floor space available for lease. There are recently remodeled new front and rear facades, and huge new display windows looking out to the Green. Large windows are also available throughout the entire sub-dividable ground floor space. There is also available a 3,480 s.f. on the upper level that is ideal for a Karate Studio, Dance Studio, or artist loft and gallery. Access is directly from the rear parking lot and space is considered a “walk-up”. Space is offered at $10.00 s.f. gross. There is plenty of on-site parking, angled parking on the green, and a convenient lot from the adjacent Post Office. This 1.02-acre property is located near the New Milford Hospital, the Bank of America, the theater, numerous restaurants, the Post Office, several churches, and all the municipal offices in New Milford. Why should you wait as immediate occupancy is available? The “Village Commercial” zoning allows numerous retail and service uses and you’ll find the Town Departments very cooperative in the permitting process. This would be the ideal location for large restaurants, medical offices, retail and convenience stores, pharmacy, health clubs, and numerous other retail uses. For qualified buyers, the owner is willing to consider holding a first mortgage at 6.00% with a 20-year amortization and a 5-year balloon payment. See the enclosed and newly updated attachment for " Income and Expense". Call J. Michael Struna the exclusive listing broker to discuss these terms and conditions and to make an appointment to visit this exceptional investment opportunity at 203-798-9345. |
Attachments & Media
Additional Details
| Nearest MSA: | Torrington |
| County: | Litchfield |
| Submarket Type: | Central Business District |
| Taxing Authority: | Town of New Milford |
| Tax ID/APN: | 35.2/228 |
| Zoning: | V-C |
| Market Type: | Medium |
| Retail Clientele: | General, Family, Business, Tourist |
| Side of Street: | South |
| Road Type: | Paved, 2-Track |
| Property Visibility: | Excellent |
| Largest Nearby Street: | Main Street |
| Transportation: | Bus, Highway, Taxi |
| Highway Access: | Near Route 202 and Route 7 |
| Airports: | Danbury Municipal |
| Area Description: | The historic "On the Green" area of banks, attorney's and retail. Near Town Hall and New Milford hospital. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Property Condition: | Good |
| Year Built: | 1970 |
| Year Renovated: | 2018 |
| Roof Type: | Flat |
| Construction/Siding: | Brick, Concrete, Metal/Glass, Steel Frame |
| Exterior Description: | New exterior skin |
| Parking Type: | Surface, Other |
| Parking Description: | Combination of municipal and private parking. |
| Total Parking Spaces: | 35 |
| Heat Type: | Electricity, Natural Gas |
| Heat Source: | Heat Pump |
| Air Conditioning: | Engineered System |
| Internet Access: | DSL |
| Interior Description: | Space is currently available for possible subdivision for tenant spaces. |
| Zoning Description: | V-C Village Commercial |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Electric Lines, Utilities |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 3,560 | 21,401 | 31,317 |
| Median Age: | 40.1 | 41.82 | 42.42 |
| Households: | 1,409 | 8,300 | 12,013 |
Contact
Chris CosioAdvantage Realty CommercialNot a member of CTCList |
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