1780 Boston Post
Old Saybrook, CT 06475

Property

Ownership: Commercial
Type: Commercial
Bathrooms: 3
Area: 2236 sq ft

Financials

Price:$850,000
Annual Taxes:$5,896
Nest Seekers International at The J House Greenwich, 1114 E Putnam Ave, Riverside, CT 06878
Listing Courtesy of Nicholas Tarquino of Carbutti & Co., Realtors

7. 06 CAP r a t e Prime mixed use investment property offered at 850, 000 along the high visibility Route 1 corridor.

Description

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. 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 | 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.

Amenities

  • Central Air
  • Elementary School -
  • High School -
  • Intermediate School -
  • Window Unit

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