27
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$850,000
Est. payment /mo
3 Baths
2,236 SqFt
New
1780 Boston Post Road Old Saybrook, CT 06475
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,236 sqft
Price per Sqft $380
MLS Listing ID 24149460
Full Baths 2
Half Baths 1
Year Built 1970
Annual Tax Amount $5,896
Lot Size 0.690 Acres
Property 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. 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.
Location
State CT
County Middlesex
Zoning B-4
Interior
Heating Hot Air, Hot Water
Cooling Central Air, Window Unit
Exterior
Utilities Available None/Unknown
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot, Level Lot, Cleared
Foundation Slab
Sewer Septic
Water Public Water Connected
Listed by Nicholas Tarquino • Carbutti & Co., Realtors
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