The Armory - Manchester CT

330 Main Street in Manchester, Connecticut consists of 2 distinct buildings situated on a 1.6-acre lot with 64 parking spaces. The main building, The Armory, is a 40,000+ square foot built-to-last brick/masonry structure with 4 levels. Completed in 1949, it was used by the National Guard for training, vehicle storage, recreational activities and military dances. It includes 24 small-business office suites (approx 350–650 sq-ft each), main-floor office space, a 10,000 square foot gymnasium with
balcony, and a mezzanine level 1,300 sq-ft apartment with direct rooftop access (potential patio use).
The second building is a 5,720-sq-ft garage complete with customer entrance, back-office and meeting space. This space is currently used by the owner as a restoration business. No environmental hazards exist.
Current annual rental revenue is $441,000. Only the service garage, gymnasium and 24 office suites on the ground level are being utilized at this time. There is opportunity for significant additional revenue from Building-1. Untapped potential revenue exists from rental of 1st and 2nd floor office spaces, as well as, the mezzanine level apartment. Improvements, such as, the addition of a 2nd staircase would be required to maximize the rental potential. Existing rentals could also be better monetized. Separating utilities for lower level office spaces would increase rental stream for the 24 office suites; Adding a fire sprinkler system to the gymnasium would allow for denser use of the space and also allow the compartmentalizing
into individual storage or retail areas. Additional car storage could be achieved through the addition of lifts.
330 Main Street is located adjacent to Manchester Memorial Hospital,(recently purchased by ECHN/Yale) and in close proximity to Eastern Connecticut Health Network, Community Healthcare Credit Union and the Manchester Pharmacy. Manchester is positioned between UConn’s Storrs campus and downtown Hartford. Boston and NYC are both under 120 miles.

Location:

330 Main St, Manchester, CT 06040