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$2,000,000

  • Sold
  • Closed
  • Retail
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Welcome to the Monroe Professional Building! 5.459% CAP RATE. One of the most active retail and office use plaza's in Monroe Center is now available to purchase. 450 Monroe Turnpike is located on the busiest 4-way signalized light intersection, on the corner of Monroe Turnpike and Elm Street. This 100% OCCUPIED, 13 tenant building (15 units - 2 tenants have double units) provides a variety of retail and office tenants that are both long term and mid-term termed tenants. This nicely maintained, brick, elevator building shopping plaza has ample parking in front, sides and rear on 1.22 acres. Low rents, gross plus electric leases on 2nd floor and gross plus heat and electric on first floor and an opportunity for a serious buyer for upside potential. Two multi-user hallway multi-stalled restrooms on 2nd floor. Two tenants on 2nd floor have their own restroom. Each tenant on first floor has their own restroom. Nicely fitted up. Each tenant unit is nicely fitted up and and in good condition. Owners have kept up with maintenance of the property. Some tenants in building include Soup Thyme, Monroe Nails, Courtesy Carpet, Mix & Match, Fred Martin Law Offices, Angelovic Insurance Group, Swept Away Spa, Lash Demand, Gustavo Tessaro Photography, Dr Paul Moyse Chiropractic Physician, Farmers Insurance, JMLS and SECA, Corp . Flat roof with gas heat and a/c units on the roof. Septic replaced in 2017 and new roof in 2012.

Full Property Details for 450 Monroe Turnpike

General

  • Sold For: $2,000,000
  • Taxes: $43,528 (July 2022-June 2023)
  • Status: Closed
  • Type: Retail
  • Source: SMARTMLS
  • MLS ID: 170490869
  • Added to Site: 1, 418 day(s) ago

Business

  • Business Type: Investment, Retail

Interior

  • Interior Features: Elevator, Handicap Design, Loading - Grade, Public Restrooms, Security System, Window Display
  • Flooring: Parquet, Tile, Wall-To-Wall Carpet

Rooms

Bathrooms

  • Restrooms: 8

Exterior

  • Exterior Features: Door Sign, Gutters, Lighting, Loading Dock/Grade, Outside Storage Area, Pole Sign, Sidewalk, Underground Utilities

Parking

  • Parking: Paved, Unassigned Parking, Parking Lot
  • Garage Description: Paved, Unassigned Parking, Parking Lot

Location

  • County: Fairfield
  • Neighborhood: Monroe Center
  • Driving Directions: Rte 111/Monroe Turnpike to #450. Minutes to Rte 25/Rte 111 intersection.
  • Traffic Count: 20000
  • Location Details: Suburban, Strip Mall

Community

  • Community Name: Monroe Center

Heating & Cooling

  • Cooling Type: Central Air, Zoned
  • Heating Type: Hot Air, Natural Gas
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: Septic
  • Water: Public Water Connected
  • Utility Description: Electric, Gas, Telephone, Cable
  • Onsite: Electric, Gas, Telephone, Cable

Structural Information

  • Exterior Const.: Brick, Concrete, Steel
  • Roof: Tar/Gravel
  • Ceiling Height: 8
  • Disability Access: Handicap Parking, Ramps
  • Stories/Levels: 2
  • Stories in Building: 2
  • Square Feet: 26,664
  • Sq. Ft. Source: Public Records
  • Current Bldg. Use: Investment - Office/Retail
  • Retail: 17,595 Sq. Ft.
  • Year Built: 1973

Unit Information

  • # Tenants: 15

Unit 1

  • Unit Description: Office
  • Total Bathrooms: 4
  • Partial Bathrooms: 4

Unit 2

  • Unit Description: Retail
  • Total Bathrooms: 4
  • Partial Bathrooms: 4

Lot Features

  • Lot Size (Acres): 1.22
  • Frontage: Interstate Highway, Paved Road
  • Frontage Feet: 500
  • Street/Road Desc.: Interstate Highway, Paved Road
  • Present Use: Investment - Office/Retail
  • Potential Use: Investment - Office/Retail
  • Zoning: B1
  • Lot Description: Dry, Corner Lot, Level Lot

Financial Considerations

  • Annual Sewer Fee: $385
  • Assessment Amount: $1,180,900
  • Tax Amount: $43,528
  • Tax Year: July 2022-June 2023

Disclosures and Reports

  • Documents Avail.: Brochure, Demographic Data, Legal Description, Photo/Survey
  • Property ID: 173727

Meet the listing and selling agent

Meet the listing and selling agent
— 450 Monroe Turnpike —

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 450 Monroe Turnpike

School District:Monroe School District
NameGradesDistance
Monroe Elementary School
375 Monroe Turnpike, Monroe, CT 06468
PK-50.4 mi
Jockey Hollow School
365 Fan Hill Road, Monroe, CT 06468
6-82.2 mi
Masuk High School
1014 Monroe Turnpike, Monroe, CT 06468
9-122.8 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 450 Monroe Turnpike

Date
Details
Price
Change
Source
9/27/2022
Sold
$2,000,000
-19.84%
MLS
6/04/2022
Price Reduced
$2,495,000
-16.83%
MLS
5/17/2022
Listed
$2,999,999
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Price Reduced near 450 Monroe Turnpike

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500 River Rd, Shelton, CT 06484 - Photo 1 Price Reduced
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41 Ridge Line Rd, Easton, CT 06612 - Photo 1 Price Reduced
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Recent Sales near 450 Monroe Turnpike

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32 Hidden Pond Ln, Trumbull, CT 06611 - Photo 1 Sold
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32 Hidden Pond Ln  Trumbull, CT 06611

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450 Monroe Turnpike, Monroe, CT 06468 (MLS# 170490869) is a Retail property that was sold at $2,000,000 on September 27, 2022. This property was listed by Jeanette Politano from our Trumbull Regional Sales Center Office.Want to learn more about 450 Monroe Turnpike? Do you have questions about finding other Retail real estate for sale in Monroe? You can browse all Monroe real estate or contact a Coldwell Banker agent to request more information.