INVESTMENT HIGHLIGHTS
THE ASSET: 484 Main Street is a 4-story brick building featuring an elevator and contains fourteen (14) units consisting of twelve (12) office/retail suites and two (2), 1-Bedroom/1-Bathroom units with 26,984 square feet of rentable area in 33,742 square feet of total gross area on a 0.25-acre parcel of land. The offering also includes an adjacent lot located at 9 Alsop Avenue that serves as additional parking. Combined, the two Properties offer rare on-site parking for thirty-seven (37) vehicles.
STRONG ANCHOR TENANT: The Property is anchored by the State of Connecticut which occupies both the third and fourth floors. The State of Connecticut recently exercised their 5-year renewal option demonstrating their commitment to the site and the market. Both leases have 4+ years remaining with one (1), 5-year renewal option with an 8% increase providing a steady and secure income stream from a credit tenant.
VALUE ADD POTENTIAL: The Property has three vacant commercial units that provide an opportunity to significantly increase the rent roll and net operating income for the Property by leasing the vacant commercial units and pushing the residential rents to market rates in a dynamic high demand, supply constrained market.
| 
