Description
Unique 12% CAP Rate Investment Opportunity in booming college town 5 minutes from UCONN. Mixed use property includes 2 retail units (2280 sf & 1500sf) & 2 residential apartments (1200 sf each). Easily $63,600 in annual rental income in current condition with great potential to increase income with some property TLC. Solid structure with new roof & exterior paint job in 2022, new front porch in 2018, and new septic in 2012. Apartments need cosmetic upgrades to maximize rental income from students. 18 parking spaces make the Historic Mansfield Center General Store retail space great for a coffee shop, general store, or specialty shop. Rare opportunity for significant financial return in an incredible location with a property beloved by the Mansfield Community.
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0.6ACRES
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01/2 BATHS
School Ratings & Info
Description
Unique 12% CAP Rate Investment Opportunity in booming college town 5 minutes from UCONN. Mixed use property includes 2 retail units (2280 sf & 1500sf) & 2 residential apartments (1200 sf each). Easily $63,600 in annual rental income in current condition with great potential to increase income with some property TLC. Solid structure with new roof & exterior paint job in 2022, new front porch in 2018, and new septic in 2012. Apartments need cosmetic upgrades to maximize rental income from students. 18 parking spaces make the Historic Mansfield Center General Store retail space great for a coffee shop, general store, or specialty shop. Rare opportunity for significant financial return in an incredible location with a property beloved by the Mansfield Community.
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