887 Main Street, Upper StepneyMonroe, CT 06468MLS Number 170426975

  • Price: $1,300,000
  • 49 Days on Market
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Federal 30-year interest rate: 5.3% last updated on May 12, 2022
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887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468887 Main Street Monroe CT 06468
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  • 1.19Acreage
  • 1979Year Built
  • 12,000Square Feet

Driving Directions

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!
Listed by Jeanette Politano of Coldwell Banker Realty

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More Info

Basic Information

  • Broker NameColdwell Banker Realty
  • List Price$1,300,000
  • MLS Number170426975
  • Property TypeCommercial For Sale
  • StatusACT
  • TownMonroe
  • Virtual TourView Tour
  • Gross annual expense$28,448
  • Gross annual income$164,280
  • Commercial catagoryIndustrial, Investment, Office
  • Also for leaseNo
  • MLS StatusActive

Interior

  • Handicap FeaturesHallways 36+ Inches Wide, Ramps
  • Interior featuresHandicap Design, Loading - Grade, Public Restrooms, Security System, Window Display

Utilities

  • Heat SystemZoned
  • Heating FuelNatural Gas
  • Utilities availableTelephone
  • Water sourcePublic Water Connected
  • Cooling SystemCentral Air
  • Septic approvalNo
  • Septic plan availableNo
  • Sewage systemSeptic

Tax Information

  • Assessed value$428,400
  • Taxes$15,577
  • Tax YearJuly 2021-June 2022
  • Milrate base36
  • Milrate total36.36

Building

  • FoundationBlock, Concrete
  • RoofAsphalt Shingle
  • Year Built1979
  • Building ConstructionBlock, Steel
  • AtticNo
  • Garage Spaces
  • FlooringConcrete, Tile, Wood
  • Overhead doors1
  • Garage Parking InfoPaved, Off Street Parking, Parking Lot
  • Square Feet12,000
  • Restrooms number of2
  • Sqft industrial6000
  • Sqft office6000
  • Stories2
  • Additional space availableYes

Auction

  • Bank owned propertyNo

Other

  • Documents Available
    • Brochure
    • Demographic Data
    • Environmental Site Assess.
    • Legal Description
    • Photo/Survey
    • Plot Plan/Survey
    • Topographical Survey
    • Zoning Approval
  • Lease purchaseNo
  • Purchase optionNo
  • Inventory includedNo
  • SubdividableYes
  • Traffic count18000
  • Net operating income136431
  • Space is leasedNo
  • Present useInvestment/Industrial/Office
  • Potential useInvestment/Industrial/Office
  • View Count4

Basic Information

  • Agent ID18689

Location

  • CountyFairfield
  • LocationHighway Access, Suburban
  • NeighborhoodUpper Stepney
  • StateCT
  • Zip06468

Property

  • Acreage1.19
  • Lot DescriptionDry, Level Lot, Sloping Lot
  • Parking Spaces
  • Parking spaces covered
  • Parking spaces uncovered
  • Parking spaces per 1000sqft
  • FloodzoneNo
  • Business includedNo
  • Road Frontage DescriptionInterstate Highway
  • SwimmingpoolNo

Exterior

  • Exterior featuresAwnings, Door Sign, Lighting, Pole Sign, Sidewalk
Sotheby's International Realty | William Pitt
Sotheby's International Realty | William Pitt
Office: 203-796-7700
112 Federal Road
Danbury, CT 06811

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