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534 Storrs Road

Mansfield, CT 06250
  • $361,500
  • STATUS: Closed
  • ON SITE: 358 Days
  • MLS #: 170585782
Sold - 10/03/2023
$361,500
SOLD - 10/03/2023
  • 0
    BEDS
  • 0.6
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1880
County:
Area:

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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The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 SmartMLS, Inc. Data last updated: 2024-07-15T16:11:51.537.
www.timdentteam.com/homes/141748047
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534 Storrs Road Mansfield, CT 06250

  • Price: $389,900
  • Status: Closed
  • On Site: 358 Days
  • Updated: 37 min ago
  • MLS #: 170585782
0
Beds
0
Baths
0
½ Baths
0.6
Acres
1880
Built
Neighborhood:
Mansfield Center
County:
Tolland
Area:
Mansfield
Property 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.
Exterior Features

Garage And Parking Unassigned Parking Lot Description Corner Lot Parking Spaces Covered 0 Parking Spaces Uncovered 18 Parking Total Spaces 18 Road Frontage Description State Road Roof Information Asphalt Shingle Traffic Count 14400

Interior Features

Ceiling Height 8 Cooling System None Flooring Wood Heat Type Hot Air Number Of Docks 0 Number Of Overhead Doors 0 Number Of Restrooms 3 Sq Ft Residential 3000 Sq Ft Retail 5082 Sq Ft Total 8082

Property Features

Ada Compliant YN No Additional Space Available YN No Agent Owner YN No Bank Owned Property No Financing Used Cash Foundation Type Stone Gross Annual Expense 12980 Gross Annual Income 63600 Heat Fuel Type ElectricOil Location Other Net Operating Income 50620 Potential Short Sale No Present Use Retail And Residential Apts Sewage System Shared Septic Subdividable YN No Total Number Of Units 2 Under Agreement Yn No Utilities Available ElectricGasCable Water Source Other Zoning Nb2

Listing information © 2024 Smart MLS
Listing provided courtesy of Tom Pentalow of Property Shoppe, LLC: (203) 829-0418.


The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2024 SmartMLS, Inc. Data last updated: 2024-07-15T16:11:51.537.
 
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Tim Dent Team | Coldwell Banker Realty
398 Main Street
Ridgefield CT, 06877