235 Hanover St Meriden, CT 06451
Estimated payment $2,578/month
About This Home
Attention Investors: Fully Occupied Mixed Use Property! We are seeking investors for a Value-Added Mixed-Use property currently generating an impressive 11.1 Capitalization Rate (CAP). All tenants are currently on month-to-month leases and are paying below-market rents. The new owner has the potential to significantly enhance the property's CAP to 13 or even higher by implementing market-based rents. The property consists of three spacious residential studio apartments on the upper level and two commercial retail spaces on the ground level. It is strategically situated in Meriden's vibrant downtown area, conveniently located near the new train station, town green, public library, and major highways. Each apartment is equipped with electric baseboard heating, ensuring comfortable living. Each unit has its own separate electric meter, along with a house meter. There are ample parking options, including four parking spaces behind the building for both residential and retail units, as well as on-street parking.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,427
Year Built
- Built in 1890
Home Design
- 2,528 Sq Ft Home
- Concrete Foundation
- Frame Construction
- Asphalt Shingled Roof
- Aluminum Siding
Parking
- 4 Parking Spaces
- Private Driveway
Additional Features
- 3,920 Sq Ft Lot
- Property is near public transit
- Electric Water Heater
Community Details
- 5 Units
- Gross Income $55,800
Listing and Financial Details
- Assessor Parcel Number 1176233
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/21/2025 05/21/25 | Price Changed | $399,000 | -3.9% | $158 / Sq Ft |
| 04/02/2025 04/02/25 | For Sale | $415,000 | -- | $164 / Sq Ft |
Source: SmartMLS
MLS Number: 24085159
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
- 50 S 2nd St
- 56 N First St
- 18 Madison Ave
- 39 South Ave
- 242 W Main St
- 36 Winthrop Terrace
- 44 4th St
- 16 Park Place
- 71 Columbus Ave
- 48 Pine St
- 0 Pine St
- 127 Winthrop Terrace
- 9 Hickory St
- 33 W Main St Unit 11
- 33 W Main St Unit 4
- 33 W Main St Unit 1
- 33 W Main St Unit 15
- 33 W Main St Unit 13
- 35 Hillside Ave
- 85 Goodwill Ave
- 32 Cook Ave Unit D28
- 32 Cook Ave Unit B25
- 32 Cook Ave Unit 110
- 32 Cook Ave Unit B8
- 80 Hanover St
- 81 W Main St Unit 13
- 81 W Main St Unit 8
- 72 Crown St
- 30 Olive St
- 62 Wood St
- 22 North St Unit 2
- 135 Willow St
- 129 Willow St Unit 1
- 92 View St Unit 1
- 178 Spring St Unit 1 FL
- 178 Spring St
- 65 Springdale Ave
- 81 Springdale Ave Unit 3
- 81 Springdale Ave Unit 2
- 49 Vine St Unit 2nd Floor