1780 Boston Post Road Old Saybrook, CT 06475
Other
MLS #: 24149460
Courtesy Of Keller Williams Realty
Property InformationDescription
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.
Features
- Age: Over 50 Years Old
- Cooling System: Window Unit(s)
- Cooling System: Central Air
- Heating System: Hot Water(Heating)
- MLSID: 24149460
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
MAP & DIRECTIONS
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