Beach Homes Realty
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1780 boston post road

Old Saybrook, CT 06475

2-Full 1-Half BATHS
0.68 AC LOT
Commercial
Image 1
Total Baths 3
Full Baths 2
Acreage 0.69
Status Off Market
MLS # 24149460
County Middlesex
More Info
Category Commercial
Status Off Market
Acreage 0.69
MLS # 24149460
County Middlesex
Cross-posted on MLS # 24149701 ~ 7.06 CAP r a t e ~ Prime mixed-use investment property offered at $850,000 along the high-visibility Route 1 corridor. The asset consists of three total units-office/retail space with direct road frontage and two residential apartments privately situated in the rear. Trusted General Contractor currently rents the rear yard space at $1,000/month. Projected gross income totals $90,000/year. Incorporating a 10 p e r c e n t vacancy & repairs reserve, the stabilized effective gross income is $81,000/year. Operating expenses total $20,945/year (real estate taxes: $5,896 | insurance: $5,879 | electric: $4,600 | oil: $1,350 | propane: $1,620 | snow removal/water/septic: $1,600), resulting in a net operating income (NOI) of $60,055/year. At the asking price of $850,000, the asset delivers a 7.06 CAP r a t e, with long-term value preservation and upside through future rent adjustments. Strong location, consistent cash flow, and limited supply of mixed-use product on Route 1 make this an ideal long-term hold, 1031 exchange target, or portfolio addition.
Location not available

Exterior Features

  • Roof Asphalt Shingle
  • Garage No
  • Water Public Water Connected
  • Sewer Septic
  • Lot Description Corner Lot, Level Lot, Cleared

Interior Features

  • Heating Hot Air, Hot Water
  • Cooling Central Air, Window Unit
  • Year Built 1970

Financial Information

  • Parcel ID 1024739
  • Zoning B-4

Listing Information

Properties displayed may be listed or sold by various participants in the MLS.