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$ 1,450,000
Est. payment | /mo
7 Baths
17,437 SqFt
$ 1,450,000
Est. payment | /mo
7 Baths
17,437 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 17,437 sqft
Price per Sqft $83
MLS Listing ID 24217774
Full Baths 7
Year Built 1920
Annual Tax Amount $17,052
Lot Size 0.340 Acres
Property Description
RARE DOWNTOWN SHELTON INVESTMENT OPPORTUNITY! Exceptional opportunity to own a multi-building commercial property in the heart of downtown Shelton! Known as 509- 513 Howe Avenue, this unique investment offers established rental income with tremendous potential for additional revenue and future development. Building 509 currently generates strong rental income from two established businesses, including a restaurant and gymnastics studio. The additional buildings offer three commercial storefronts available for lease, creating immediate opportunities to expand income. One storefront is partially framed for a bar or restaurant, offering an exciting opportunity for an owner/operator. Two additional lower-level apartments are approximately 75% complete and could provide further rental income once finished. Adding even more potential, the property has approvals for future development. Unlike many downtown properties, this opportunity also includes a brand-new parking lot with over 20 spaces! Whether you're an investor seeking multiple income streams, a restaurant or business owner looking for an established location, or a developer looking to capitalize on downtown Shelton's continued growth, this property offers exceptional potential. Established income, available space, and exciting possibilities for the future!
Location
State CT
County Fairfield
Zoning CB-2
Interior
Heating Other
Cooling Zoned
Exterior
Parking Features Paved
Utilities Available Electric, Gas
Roof Type Asphalt Shingle,Other
Building
Lot Description Level Lot, Sloping Lot
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Joe Laucella • Carey & Guarrera Real Estate