123 Elm St Old Saybrook, CT 06475

This 900-square-foot Class B office condo, located at 123 Elm Street, Unit 1200, Old Saybrook, CT 06475, presents a unique owner-user investment opportunity. Priced at $78,000 ($86.67/sq ft), this vacant unit boasts a flexible layout ideal for various office configurations. Built in 1985 and renovated in 2020, the space features a waiting area adaptable to various uses, a designated conference room (easily converted to additional office space), and two private offices. Natural light and windows create an airy atmosphere. A balcony offers outdoor space. The property includes ample parking within a two-building complex. Situated in Old Saybrook's retail corridor, the location provides convenient access to lunch spots, grocery stores, and other amenities. The property is zoned B-2. The pro-forma NOI is $10,092, projecting a 12% cap rate. The unit is currently vacant, with an occupancy date of November 1, 2024. This investment offers a well-laid-out floor plan with easy access to Route 1 and I-95. The property consists of one unit within a two-story building. This is an excellent opportunity for a business owner seeking a convenient and functional workspace in a prime location.