41 and 41 Main Street - New Milford

Retail-Commercial for Lease
Also listed as Shopping Center, Office
Catylist Listing ID: 500929
Property Subtypes: Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Contiguous Space: 2,000 - 10,790 SF
Total Available: 14,270 SF
Building Size (RSF): 20,875 SF
Gross Land Area: 1.02 Acres
Lease Rate: $10 - 18.50 PSF (Annual)
Base Monthly Rent: $2,900 - 16,634
Lease Types: Gross Lease, Modified Gross
Ceiling: 10 ft.
Building Name: 41 and 43 Main Street - New Milford
Usable Size (USF): 20,875 SF
Last Updated: 2/16/2019

Overview / Comments

Projected Net Operating Income of $243,515! A long term lease by a Physical Therapy Group was just signed for the previous Robertson’s Jewelry space in New Milford. A new 2,000 s.f. lease by a national franchisee is pending. This entire property is now coming 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 is a total of 8,790 s.f. of ground floor space available. There is new HVAC, recently remodeled new front and rear facades, and huge new display windows looking out to the Green. This was the previous location of a CVS pharmacy which experienced very large sales volumes but relocated because of lack of a corporately mandated drive through.

Other long term tenants in the center include the Danbury News Times, Johana’s Restaurant, Star Nails, Physical Therapy Center, and Village Green Cleaners
The 8,790 s.f. of remaining space can be sub-dividable with the largest space having access to a patio deck / loading dock. See the attached floor plan for possible sub-division possibilities into three convenient sizes: 2,000 s.f. is a inline unit for national franchisee with windows and pending lease at $18.50 gross; 4,523 s.f. is an corner unit with frontage on “The Green” and offered at $18.50 gross; and 4,267 s.f. is available with a patio deck / loading dock and direct rear parking lot access offered at $15.50 gross. Spaces are serviced by HVAC with propane gas.

There is also available a 3,480 s.f. upper level space that is ideal for a Karate Studio, Dance Studio, or artist loft or gallery. Access is directly is from the rear parking lot and is considered a “walk up”. The 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 club, and numerous other retail uses.

The property at 41 and 43 Main Street is also available for sale at $1,900,000. For qualified buyers, owner will hold a first mortgage at 6.00% with 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 to this exceptional investment opportunity at 203-798-9345.

Expand All 4 Spaces Available

Suite: Unit A (Pending) 2,000 SF $18.50 PSF (Annual) Gross Lease,Modified Gross
Suite: Unit B Proposed Size 4,523 SF $18.50 PSF (Annual) Gross Lease,Modified Gross
Suite: Unit C Proposed Size 4,267 SF $15.50 PSF (Annual) Gross Lease,Modified Gross
Suite: Unit D Upper 3,480 SF $10 PSF (Annual) Gross Lease,Modified Gross

Additional Details

Nearest MSA: Torrington
County: Litchfield
Submarket Type: Central Business District
Taxing Authority: Town of New Milford
Tax ID/APN: 004336
Zoning: V-C
Market Type: Medium
Retail Clientele: General, Family, Business, Tourist, Recreation
Side of Street: South
Road Type: 2-Track, Paved
Property Visibility: Excellent
Largest Nearby Street: Main Street
Transportation: Bus, Highway, Taxi
Highway Access: Route 7 North and South and Route 202
Site Description: Level site located on the "Green" of New Milford.
Area Description: Classic New England setting
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Property Condition: Good
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: On site parking; on the street parking, municipal parking on both front and rear areas, and parking in Post Office parking lot.
Sprinklers: Wet
Heat Type: Propane
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable, DSL
Interior Description: Space is currently raw space. Owner will demise and deliver as a vanilla box.
Zoning Description: Village District Commercial
Water Service: Municipal
Sewer Type: Municipal

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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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