Colonial Properties represents buyer in $910,000 purchase of mixed-use property

Milford, CT Colonial Properties, Inc., has facilitated the sale of 54 Naugatuck Ave., a two-story, 4,720 s/f mixed-use investment property located in the Walnut Beach neighborhood. The property sold for $910,000.

Nicholas Richetelli, Realtor, of Colonial Properties represented the buyer, Christopher Moran, in the acquisition from Naugatuck Ave Real Estate LLC who was represented by Jeremy Rosner of Levey Miller Maretz.

The property features a mixed-use layout, with the ground floor leased to The Nautilus restaurant and the upper floor containing studio and one-bedroom apartments. The combination of restaurant space and residential units offers a mix of commercial and residential uses in the established Walnut Beach neighborhood.

The buyer was represented by Attorney Vincent L. Noce, Jr., in Bridgeport, Conn., while the seller was represented by the attorney Gregory Stamos in Ansonia, Conn.

“Mixed-use properties like 54 Naugatuck Ave. offer an attractive combination of commercial and residential components. Its location in Milford’s Walnut Beach neighborhood and the mix of uses made this a sought-after investment opportunity,” said Michael Richetelli, Colonial Properties.