Listing courtesy of Nicholas Tarquino (203) 710-6157, Carbutti & Co., Realtors (203) 269-4910
1780 Boston Post Road, Old Saybrook, CT, 06475
4 beds
2 Full / 1 Half baths
1970
2,236 sqft
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. Utilities included in the residential rental
Status:
Active
Type:
Commercial
Units:
3
Zoning:
B-4
Frontage:
U.S. Highway,State Road
Heating:
Hot Air, Hot Water
Cooling:
Central Air, Window Unit
Acreage:
0.69
Est. Taxes:
$5,896
Assessment
$380,400
Current Use
Contractor Show Room
Permitted Use
Infinite Posibilities!
Utilities
None/Unknown
Lot Description:
Corner Lot,Level Lot,Cleared
Days on Market:
87
MLS #:
24149460
Community Info
School Info
Walk Score
Mass Transit
Yelp
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