Roy Migeot
Listing courtesy of Nicholas Tarquino (203) 710-6157, Carbutti & Co., Realtors (203) 269-4910
1780 Boston Post Road, Old Saybrook, CT, 06475
8 rooms
4 beds
2 Full baths
1912
Units on different Floors
2,236 sqft
Commercial Mixed Use, cross-posted on MLS alternative # 24149460. 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 of 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.
Status:
Active
Type:
Multi-family
Laundry Remarks:
Common Laundry Area
Units:
3
Zoning:
B-4
Heating:
Hot Air, Hot Water
Cooling:
None
Basement:
Full, Unfinished
Acreage:
0.69
Est. Taxes:
$5,896
Assessment
$380,400
Lot Description:
Corner Lot,Level Lot
Elementary School:
Per Board of Ed
High School:
Per Board of Ed
Days on Market:
67
MLS #:
24149701
Community Info
School Info
Walk Score
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