Excellent opportunity to acquire a 16 unit mixed use investment property strategically positioned along one of New Britain's primary commercial corridors.


Property

Website:https://www.nestseekers.com/5675248
Address:
250 North
New Britain, CT 06051
Ownership: Multi-Family
Type: Multi-Family
Bedrooms: 21 BR
Bathrooms: 15
Area: 14408 sq ft

Financials

Price:$1,825,000
Annual Taxes:$20,764

Description

Excellent opportunity to acquire a 16-unit mixed-use investment property strategically positioned along one of New Britain's primary commercial corridors. The property consists of 12 residential units (six 2-bedroom/1-bath units and six 1-bedroom/1-bath units) and four street-level commercial spaces, offering investors a diversified income stream. The commercial component is fully leased to a nail academy (occupying two storefronts), a pizzeria, and a mini market. The nail academy has made substantial tenant improvements, including the installation of commercial HVAC systems, ventilation, and interior build-outs, reflecting a long-term commitment to the property. The residential apartments are separately metered for electricity, with the landlord responsible for heat and hot water. Commercial tenants is responsible for their own utilities (separately metered), reducing operating expenses and enhancing the property's income profile. The asset provides strong in-place cash flow with additional upside through residential rent growth as units turn over. Additional highlights include ample on-site parking, excellent street frontage and visibility, and a high-traffic location. Conveniently located just minutes from Central Connecticut State University (CCSU), Downtown New Britain, CTfastrak, and major highways including Route 9, Route 72, and Interstate 84.

Amenities

  • Elementary School - Per Board of Ed
  • High School - New Britain
  • Intermediate School - Per Board of Ed

Contact

Nest Seekers International at The J House Greenwich, 1114 E Putnam Ave, Riverside, CT 06878
Listing Courtesy of Thuyan Tran of Oxford Realty