43 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: 3,480 - 8,790 SF
Total Available: 12,270 SF
Building Size (RSF): 21,150 SF
Gross Land Area: 0.98 Acres
Lease Rate: $10 - 18.50 PSF (Annual)
Base Monthly Rent: $2,900 - 6,972
Lease Types: Gross Lease, Modified Gross
Ceiling: 10 ft.
Building Name: 43 Main Street - New Milford
Usable Size (USF): 21,150 SF
Last Updated: 9/15/2020

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.

Expand All 3 Spaces Available

Suite: Unit B Proposed Size 4,523 SF $18.50 PSF (Annual) Gross Lease,Modified Gross
Suite: Unit C Proposed Size 4,267 SF $18.50 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: 1
Number of Stories: 2
Property Condition: Good
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 35
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: None
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

Contact

Photograph of Listing Agent

Chris Cosio

Advantage Realty Commercial Not a member of CTCList
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