867 Main St 42,500 SF 100% Leased Retail Building Manchester, CT 06040 $4,200,000 ($98.82/SF) 8.62% Cap Rate

Dowling on Main offers an opportunity to enter the Manchester, CT market with a fully gut renovated downtown property (renovated in three phases, 2005-2011) offering 12 apartment units; +/-3850 Net Rentable sf of ground floor retail space in two spaces, ground floor office space of +/-7,964 Net Rentable sf multi tenant office space, a +/-11,500 SF Adult Daycare and +/-4,500 Net Rentable Flex Storage space. The total Net Rentable +/—35,934 SF with a Gross area of +/-42,500 SF
Originally constructed in 1897 as the Orford Hotel and later converted into Marlow’s Department Store, 867 Main Street has played a key role in the history of Manchester. This stately fixture in the center of Downtown Manchester is surrounded by similarly aged properties within this historic town center. It is convenient to shopping, restaurants, art galleries and entertainment all within the center of town. Highway access to I-384 is just at the end of the bock with connection to I-84 and downtown Hartford just 9 miles away.
With consistently high occupancy, Dowling on Main maintains an impressive occupancy range with the residential units typically at 100% occupancy; retail space is 100% occupied and the offices are consistently between 95% to 100% occupied.
The property location taken together with its proximity to a 10 mile radius population of over 409,000 people and many of the States largest employers, makes Dowling on Main not only a convenient place to live and locate your office, but also an outstanding turnkey investment opportunity with continued upside growth.