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listing
1 of 15
CommercialFor Sale
$1,300,000
887 Main Street
Monroe, CT 06468
Courtesy of Coldwell Banker Realty
MLS: SmartMLS
Est. Mortgage
$6,810/mo

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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Information courtesy of Coldwell Banker Realty is subject to verification and is not guaranteed. Listing Data Last Updated 10/17/2021 09:53 PM
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