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: $2,975,000
Unit Price: $140.66 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: 1/17/2021

Overview / Comments

Fantastic investment opportunity available for $2,975,000 located directly on the historic “New Milford Green.” The estimated Net Operating Income for 2020 is $193,467! New leases include Domino's Pizza, Johanna's restaurant expansion and extension, The News-times relocation and extension, and the Physical Therapy Group. An additional 3,150 s.f. lease was completed for the third location of BD Provisions with their opening scheduled for December 2020.

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.

There are currently two vacant spaces. Both spaces are in the rear of the building with their own private entrances and access to the parking lot. The first-floor space is 4,775 s.f. and the second-floor walkup is a former karate studio that is 3,480 s.f.

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.

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

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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
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