54 Washington Street
Middletown, CT 06457
$1,000,000
PERMIT IN HAND - READY TO BUILD! Located in the heart of Middletown and within walking distance of an abundance of downtown amenities, 54 Washington Street presents an exceptional redevelopment opportunity in a highly desirable location. Formerly home to the Italian American Club, this distinctive property offers both character and history while being fully positioned for its next chapter. The property has received zoning approval for conversion from a community/event space into 18 residential units, with additional space incorporated for a superintendent. A tremendous amount of the development work has already been completed. The property includes professionally engineered 18-unit build-out plans, along with stamped electrical and plumbing plans. With major building systems professionally designed, code-compliant, and permit-ready, a new owner can move directly toward the construction phase-eliminating much of the time, cost, and uncertainty typically associated with the planning and approval process. Adding even greater value, the Town has approved 18 parking spaces directly across the street, adjacent to the police station. For the savvy investor or developer seeking a residential conversion opportunity with approvals, plans, parking, and a prime downtown location already in place, 54 Washington Street offers a rare opportunity to step into a project that is truly ready to build.
| Listing Id: | 24203918 |
|---|---|
| List Price: | $1,000,000 |
| Property Type: | Commercial Sale |
| Status: | Active |
| Bank Owned Property: | No |
| Living Area Sqft Per Public Record: | 12,288 |
| Property Tax: | $13,065 |
| Acres: | 0.13 |
| Direct Waterfront Yn: | No |
| City: | Middletown |
| County: | Middlesex |
| Postal Code: | 06457 |
| Year Built: | 1936 |
| Total Number Of Units: | 1 |
| Agent Owner Yn: | No |
| Assessed Value: | $320,210 |
| Basement Description: | No |
| Comp Only Manual Yn: | No |
| Cooling System: | None |
| Current Price: | $1,000,000.00 |
| Directions: | GPS Friendly |
| Display Fair Market Value Yn: | Yes |
| Documents Available: | Brochure |
| Garage & Parking: | Other |
| Heat Fuel Type: | No Fuel |
| Heat Type: | Steam |
| Home Owner's Assocation: | No |
| Listing Contract Date: | 2026-09-02 |
| Location: | Highway Access, Downtown |
| Lot Description: | N/A |
| Mil Rate Total: | $40.80 |
| Status: | Active |
| Occupied By: | Vacant |
| Original List Price: | $1,000,000 |
| Parcel Number: | 1008616 |
| Parking Total Spaces: | 18 |
| Possession Availability: | ASAP |
| Potential Short Sale: | Undeclared |
| Preferred Phone: | (203) 376-6266 |
| Price: | $1,000,000 |
| Road Frontage Description: | Paved Road |
| Roof Information: | EPDM Synthetic Rubber |
| Sewage System: | Public Sewer Connected |
| Sign Yn: | Yes |
| Sq Ft Source: | Public Records |
| Sq Ft Total: | 12,288 |
| Tax Year: | July 2026-June 2027 |
| Under Agreement Yn: | No |
| Utilities Available: | None/Unknown |
| Water Source: | Public Water Connected |
| Zoning: | B-1 |
Listing Courtesy of: KNG Realty LLC
Listing Agent: Kenneth S Ginsberg
(203) 376-6266
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Smart MLS Inc. data last updated on October 08, 2026 06:45 PM - ET
Property Last Updated: October 08, 2026 06:45 PM - ET