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887 Main Street

Monroe, CT 06468
  • $1,300,000
  • STATUS: Active
  • ON SITE: 30 Days
  • MLS #: 170426975
UPDATED: 30 min ago
$1,300,000
  • 0
    BEDS
  • 1.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,000
    SQFT
  • $108
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1979
County:
Area:

School Ratings & Info

Description

1.1 Acre property with a current CAP rate of 9.5% at full asking price, but when fully occupied, an 11+ percent cap rate is possible, if not more. Located directly on Route 25/Main Street this industrial building with almost 100% occupancy had been updated with higher end finishes. Common male and common female restrooms in hallway, solid structure with large windows in offices, large parking lot with 2 levels. The building features a front door entry and handicap/work ramp and a drive-in door and double-door entry on "lower" street level. Topography of property allows for lower level entry without stairs and front entry with just a few or use of ramp in front level. All tenants have leases from 3 to 5 years left, most long term tenants for yrs before. Building is located DIRECTLY on Route 25. Driving North towards Newtown, property is on the left. Driving South towards Trumbull, property is on the right. Monument sign with tenant list and address at entry along with the multiple mailbox. Additional land near lower level entry can be utilized for additional parking if needed, but lot has enough spaces to accommodate all tenants at full capacity with many left over for visitors. NEW ROOF, A/C 5-10 YEARS OLD, BOILERS ARE 6 OR 7 YRS OLD AND A/C AND BOILERS SERVICED ANNUALLY. Owner is willing to skim coat entire driveway and replace boilers that can be either oil or gas serviced. Gas is in the street but oil is less $ now. ONLY FULL ASK OFFERS NEED TO BE PRESENTED. 1031 desired!

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The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2021 SmartMLS, Inc. Data last updated: 2021-10-19T22:09:49.113.
www.frankschiavone.com/homes/121571164
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887 Main Street Monroe, CT 06468

  • Price: $1,300,000
  • Status: Active
  • Updated: 30 min ago
  • MLS #: 170426975
0
Beds
0
Baths
0
½ Baths
1.19
Acres
12,000
SQFT
$108
$/SQFT
1979
Built
Neighborhood:
Upper Stepney
County:
Fairfield
Area:
Monroe
Property Description
1.1 Acre property with a current CAP rate of 9.5% at full asking price, but when fully occupied, an 11+ percent cap rate is possible, if not more. Located directly on Route 25/Main Street this industrial building with almost 100% occupancy had been updated with higher end finishes. Common male and common female restrooms in hallway, solid structure with large windows in offices, large parking lot with 2 levels. The building features a front door entry and handicap/work ramp and a drive-in door and double-door entry on "lower" street level. Topography of property allows for lower level entry without stairs and front entry with just a few or use of ramp in front level. All tenants have leases from 3 to 5 years left, most long term tenants for yrs before. Building is located DIRECTLY on Route 25. Driving North towards Newtown, property is on the left. Driving South towards Trumbull, property is on the right. Monument sign with tenant list and address at entry along with the multiple mailbox. Additional land near lower level entry can be utilized for additional parking if needed, but lot has enough spaces to accommodate all tenants at full capacity with many left over for visitors. NEW ROOF, A/C 5-10 YEARS OLD, BOILERS ARE 6 OR 7 YRS OLD AND A/C AND BOILERS SERVICED ANNUALLY. Owner is willing to skim coat entire driveway and replace boilers that can be either oil or gas serviced. Gas is in the street but oil is less $ now. ONLY FULL ASK OFFERS NEED TO BE PRESENTED. 1031 desired!
Exterior Features

Construction Description BlockSteel Exterior Features AwningsDoor SignLightingPole SignSidewalk Foundation Type BlockConcrete Lot Description DryLevel LotSloping Lot Parking Total Spaces 0 Road Frontage Description Interstate Highway Roof Information Asphalt Shingle

Interior Features

Cooling System Central Air Flooring ConcreteTileWood Heat Type Zoned Interior Features Handicap DesignLoading - GradePublic RestroomsSecurity SystemWindow Display Restrooms Number Of 2

Property Features

Bank Owned Property Yn No Commercial Category IndustrialInvestmentOffice Documents Available BrochureDemographic DataEnvironmental Site Assess.Legal DescriptionPhoto/SurveyPlot Plan/SurveyTopographical SurveyZoning Approval Flood Zone Yn No Garage Parking Info PavedOff Street ParkingParking Lot Handicap Features Hallways 36+ Inches WideRamps Heat Fuel Type Natural Gas Location Highway AccessSuburban Possession Availability immediate Potential Short Sale Yn No Potential Use Investment/Industrial/Office Present Use Investment/Industrial/Office Property Tax 15577 Sewage System Septic Sign Yn No Subdividable Ynu Yes Tenants Number Of 6 Utilities Available Telephone Water Source Public Water Connected Zoning I1

Listing information © 2021 Smart MLS
Listing provided courtesy of Jeanette Politano of Coldwell Banker Realty.


The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2021 SmartMLS, Inc. Data last updated: 2021-10-19T22:09:49.113.
 
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