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33526190
33526144

423 Main Street, Middletown, CT 06457

SP
CT REB 0795367
Executive Real Estate
MD
CT CT RES.0809417
Executive Real Estate
Listed by Executive Real Estate
$4,500,000
7 days on market
Updated 7 days ago
Opportunity zone

423 Main Street

Details
APN 1003907
Property Type Mixed Use
Sub Type Office, Retail
Square Footage 39,000
Units 14
Cap Rate 4.26%
NOI $191,835
Occupancy 50%
Tenancy Multi
Pro-Forma Cap Rate 11.61%
Pro-Forma NOI $522,632
Price per SqFt $115
Year Built 1944
Acreage 0.180
Zoning B-1
Parking Spaces 14 spaces
Parking Per SqFt 0.36
Investment Type Value Add
Ground Lease No

Mixed Use | 39,000 SqFt

Marketing description

Rare opportunity to acquire a prominent mixed-use commercial asset in the heart of downtown Middletown, one of Connecticut's most dynamic and rapidly growing commercial districts. Situated along the highly desirable Main Street corridor, this approximately 39,000-square-foot building offers exceptional visibility, strong foot traffic, and a strategic location surrounded by restaurants, retail destinations, entertainment venues, professional offices, and ongoing redevelopment projects. The property has benefited from significant capital improvements and renovations, creating an attractive blend of historic character and modern functionality. Its diverse tenant mix and flexible layout provide a wide range of opportunities for investors and owner-users alike. Downtown Middletown continues to attract substantial public and private investment, fueling economic growth and increasing demand throughout the area. Surrounded by a vibrant mix of businesses, restaurants, cultural attractions, and major employers, this property is ideally positioned to benefit from the continued revitalization of the downtown corridor. With convenient access to Route 9, Interstate 91, and the greater Hartford and New Haven markets, 423-425 Main Street offers a rare combination of scale, visibility, and location in one of Connecticut's most sought-after commercial districts.

Investment highlights

  • Rare opportunity to acquire a prominent mixed-use commercial asset in the heart of downtown Middletown, one of Connecticut's most dynamic and rapidly growing commercial districts
  • Situated along the highly desirable Main Street corridor, this approximately 39,000-square-foot building offers exceptional visibility, strong foot traffic, and a strategic location surrounded by restaurants, retail destinations, entertainment venues, professional offices, and ongoing redevelopment projects
  • The property has benefited from significant capital improvements and renovations, creating an attractive blend of historic character and modern functionality
  • Its diverse tenant mix and flexible layout provide a wide range of opportunities for investors and owner-users alike
  • Downtown Middletown continues to attract substantial public and private investment, fueling economic growth and increasing demand throughout the area
  • Surrounded by a vibrant mix of businesses, restaurants, cultural attractions, and major employers, this property is ideally positioned to benefit from the continued revitalization of the downtown corridor
  • With convenient access to Route 9, Interstate 91, and the greater Hartford and New Haven markets, 423-425 Main Street offers a rare combination of scale, visibility, and location in one of Connecticut's most sought-after commercial districts

Listing Contacts

SP
CT REB 0795367
Executive Real Estate
MD
CT CT RES.0809417
Executive Real Estate
Listed by Executive Real Estate

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$191,835.00
$15,986.25/mo

Valuation Metrics

0
DSCR
4.26%
Cap Rate
4.26%
ROI

Map

Zoning

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MXC MixedMixed UseMixed Use Commercial
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View all 57 uses
View all 57 uses
Last updated Feb 19, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Steve Pikos
License
REB 0795367
Brokerage
Executive Real Estate
Title
Broker
Name
Maggie Damato
License
CT RES.0809417
Brokerage Address
17 School Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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