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This 0. 77 acre commercial parcel offers approximately 111 feet of highly visible Main Street frontage in the heart of downtown Torrington. With utilities available in the street and a generally level to gently sloping layout, the property is well-positioned for efficient site planning and future development. Zoned LB (Local Business), the parcel provides flexibility for a wide range of uses, including mixed-use development, retail, restaurant or cafe space, professional or medical offices, creative studios, contractor headquarters, event venues, and other business opportunities. Its prominent location offers excellent visibility, accessibility, and exposure to both pedestrian and vehicle traffic, making it an ideal setting for a destination business or investment project. Whether you're looking to develop a new commercial venture, establish a local business, or contribute to the continued growth of downtown Torrington, this property offers exceptional potential, subject to zoning approvals and environmental considerations. Phase I and Phase II environmental reports have been completed, along with a 2022 supplemental report, providing valuable due diligence information for prospective buyers. A rare opportunity for developers, investors, and owner-users to secure a highly visible commercial site in one of Torrington's most prominent downtown locations!
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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 | $120,000 | $120,000 | $120,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.230% | 6.512% | 5.866% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $710 | $749 | $988 |
| Total Monthly Payment | $785 | $824 | $1,063 |
* 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.