116 Main StBerlin, CT 06037

Property Details for 116 Main St

Year built

1900

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.06 AC

Property size (Sq ft)

1,530 SF

Zone code

R-11

Property type

Auto shops

APN

BERL M:9-3 B:54 L:5

APU

BERLM93B54L5

Description

This exceptional commercial property located at 116 Main Street in Berlin, Connecticut presents a unique investment opportunity. The property encompasses a well-maintained 1,530 square foot building situated on a level, cleared 1.06-acre lot. The building itself is ideally suited for an auto repair business, boasting three spacious bays perfect for servicing vehicles and a dedicated office area for administrative tasks. The existing business has an established presence and includes a used car license, offering immediate revenue potential for a new owner. The property's ample lot size provides significant expansion possibilities, allowing for future growth and development. The asking price of $725,000 represents exceptional value considering the combination of the building, land, and established business. This turnkey operation is ready for a new owner to step in and continue its success or to explore alternative uses given the versatile nature of the building and the substantial lot size. The property's prime location in Berlin, CT offers easy access to major transportation routes and a strong local customer base. This is a rare opportunity to acquire a profitable business and valuable real estate in a desirable location. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $371,843

  6.5%

  $343,240

  7%

  $318,723

• Comparable approach

  Method

  Valuation

  Relative Method

  $503,773

  Geo Method

  $503,773

• Alternative Use

  Use

  Valuation

  Residential

  $289,536

  Hospitality

  $265,213

  Educational

  $220,654

  Medical

  $228,243

  Retail

  $343,240

Location Insight

City

Berlin

County

Hartford

State

Connecticut

Latitude

41.6305

Longitude

-72.7752

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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