10.4% Cap Rate
5-39 Arch Street, New Britain, CT
Amodio & Co is pleased to present 5-39 Arch Street, New Britain, Connecticut. The property wraps the corner of Arch and Walnut Streets, at the main city center intersection (5-way), boasting an iconic presence in downtown. There are 6 (six) existing retail tenants, with ability to add-value by increasing rents through capital improvements (storefront renovations, signage, etc). Leases are short-term, however, many tenants have been in place many years. Additionally, the second floor is poised for further income potential, either through rental of the existing eclectic/vintage offices or re-development into city-center residential apartments. There is ample on-street parking, as well as long-term options in a municipal parking garage just one block away; connected to the Police station. The HVAC in all retail units has been updated, as well as electric updates. Separately metered tenant paid utilities.