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62 Washington St
27,140 SF 73% Leased Retail Building Middletown, CT 06457 $2,800,000 ($103/SF)
Investment Highlights
- Executive office suites with new carpet/flooring, paint, ceiling tiles, and bathrooms.
- Steamed Restaurant is a great Tenant who is less than halfway through their 10 year lease. Owner is a successful Operator with multiple locations.
- Assume first position mortgage with existing lender $1,700,000. Loan: Start Date 12-1-2021, 25 year amortization, rate locked at 3.25% interest rate u
- Great opportunity for someone to come in and take advantage of all the construction and renovations we have already made to the spaces and lease them
- This building is in a great location, being only half a mile off of the route 9 highway.
Executive Summary
Property Facts
Amenities
- Bus Line
- Courtyard
- Fireplace
- Freeway Visibility
- Mezzanine
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Storage Space
- Recessed Lighting
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Retail 1: Asking $2,000/month + utilities. The space is a little less than 1,000 square feet. $85,000 with a brand new buildout including new HVAC, Bathroom, floors, walls, ceilings, lights, etc.
2nd Floor Mezzanine gorgeous space: Kushner Development Office: About 2,400 square feet. $100,000 into the buildout of our current tenants office but would downsize and rent for $3,000/month+
Former Massage and Lash Spa Business: Just moved out and fully built out. Would do a deal $1,000/mo+.
2nd Floor Mezzanine: Former Next Street Driving Space. Fully Built out as a large open office that was a classroom. Willing to lease inexpensively for $1,000/month which includes utilities.
2nd Floor Mezzanine: Small office $500/month including utilities.
3rd Floor Former Dance Studio: Currently about 2,500 square feet. Willing to cut this space in half and rent inexpensively for $1,200/mo utilities included each side ($2,400/mo total) if the space close to as is (with new demising wall in middle and professionally cleaned before).
| Space | Size | Space Use | Position | Available |
| 1st Floor | 950 SF | Retail | End Cap | Now |
| 2nd Floor | 2,400 SF | Retail | - | Now |
| 2nd Floor | 500 SF | Office/Retail | - | Now |
| 2nd Floor | 500 SF | Office | - | Now |
| 2nd Floor | 500 SF | Office | - | Now |
| 3rd Floor | 2,500 SF | Office/Retail | - | Now |
1st Floor
| Size |
| 950 SF |
| Space Use |
| Retail |
| Position |
| End Cap |
| Available |
| Now |
2nd Floor
| Size |
| 2,400 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 500 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 500 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 500 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
3rd Floor
| Size |
| 2,500 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 950 SF |
| Space Use | Retail |
| Position | End Cap |
| Available | Now |
Retail 1: Asking $2,000/month + utilities. The space is a little less than 1,000 square feet. $85,000 with a brand new buildout including new HVAC, Bathroom, floors, walls, ceilings, lights, etc.
2nd Floor
| Size | 2,400 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
2nd Floor Mezzanine gorgeous space: Kushner Development Office: About 2,400 square feet. $100,000 into the buildout of our current tenants office but would downsize and rent for $3,000/month+
2nd Floor
| Size | 500 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
Former Massage and Lash Spa Business: Just moved out and fully built out. Would do a deal $1,000/mo+.
2nd Floor
| Size | 500 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
2nd Floor Mezzanine: Former Next Street Driving Space. Fully Built out as a large open office that was a classroom. Willing to lease inexpensively for $1,000/month which includes utilities.
2nd Floor
| Size | 500 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
2nd Floor Mezzanine: Small office $500/month including utilities.
3rd Floor
| Size | 2,500 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
3rd Floor Former Dance Studio: Currently about 2,500 square feet. Willing to cut this space in half and rent inexpensively for $1,200/mo utilities included each side ($2,400/mo total) if the space close to as is (with new demising wall in middle and professionally cleaned before).
DEMOGRAPHICS
Demographics
PROPERTY TAXES
| Parcel Number | MTWN-000022-000000-000558 | Improvements Assessment | $1,049,020 |
| Land Assessment | $131,820 | Total Assessment | $1,180,840 |
PROPERTY TAXES
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Jason Kushner - Jason Kushner, Development
Presented by
Jason Kushner, Development
62 Washington St
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