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Opportunity Knocks! This recently renovated building has several amazing features and one of the most amazing locations you will find for any business. Located on the corner of Division Road and New London Turnpike. (The gateway to the center of New England if you are coming from East Greenwich, Coventry or West Greenwich). The traffic count is huge and growing daily! Just steps from the new State Police Headquarters under construction, The Iconic Center of New England with over 1000 residential units , Home Depot, BJ's, and dozens more retail, restaurants, and two hotels within walking distance, the busy park and ride lot for commuters, and 200 yards from the exit from I-95 North and South. Across the street from the entrance to one of the busiest bike paths in Southern New England. (Parking lot is across the street for Big River Management Area). Previous use was an ice cream seasonal business but with all the new new development nearby, this would be an ideal coffee, sandwich shop to serve all of the brisk activities and residents nearby. Features a totally renovated one bedroom luxury apartment and a second floor three room office that might have potential for another rental or apartment. The uses are endless and the timing is perfect. (Ice cream equipment may be purchased as an extra if you want to include this in your concept)
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$674,900
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $539,920 | $539,920 | $539,920 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.375% | 5.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.395% | 6.533% | 5.794% |
| Monthly Tax Payment | $1,078 | $1,078 | $1,078 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,237 | $3,368 | $4,412 |
| Total Monthly Payment | $4,407 | $4,538 | $5,582 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.