Meriden Mill 464 Pratt Street Ext 41 Unit Apartment Building $5,190,488 CAD ($126,597 CAD/Unit) 10.04% Cap Rate Meriden, CT 06450
INVESTMENT HIGHLIGHTS
- Prime Location: Situated in centeral area of Meriden, CT, providing easy access to Harford and New Haven.
- Existing signage faces I-691N/S.
- Built in 1900, this property retains its historic architecture while offering modern amenities.
- Increase cashflow by completing renovations and upgrades.
- Approximately 1.09 acres with additional 0.26-acre lot ensures ample parking for residents.
- Scores well in terms of driving convenience, with multiple accessible routes and plenty of parking. Walking and biking scores moderate ease of access.
EXECUTIVE SUMMARY
RE/MAX Showcase is pleased to present The Mill, an exclusive listing for the mixed use property located at 464 Pratt St Ext, Meriden, CT. This 64,609 square foot building and has potential for 38 residential units and 3 commercial units. Nestled on approximately 109-acres of land, this property offers a unique blend of historic charm and modern living spaces. This listing includes 457 Pratt St Ext, offering an extra 0.26-acre lot which provides ample additional parking, enhancing the convenience and appeal of this exceptional mixed use offering. This property represents a significant investment opportunity with its blend of oversized units, architectural diversity, and modern conveniences.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $5,190,488 CAD |
| Price Per Unit | $126,597 CAD |
| Sale Type | Investment |
| Cap Rate | 10.04% |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.09 AC |
| Building Size | 64,609 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1900 |
| Parking Ratio | 0.93/1,000 SF |
| Clear Ceiling Height | 20’ |
| Zoning | M-3 - Mixed Use |
AMENITIES
SITE AMENITIES
- Laundry Facilities
PROPERTY TAXES
| Parcel Number | MERI-000305-000266-000018-000021 | Improvements Assessment | $2,353,754 CAD |
| Land Assessment | $211,597 CAD | Total Assessment | $2,565,351 CAD |
