898 Main StWinsted, CT 06098

Property Details for 898 Main St

Year built

1955

Construction

FRAME

Lot size

0.35 AC

Property size (Sq ft)

800 SF

Zone code

TG

Property type

Retail properties

Property subtype

Turn key restaurants

APN

WINC M:106 B:103 L:010-1

APU

WINCM106B103L0101

Description

This exceptional investment opportunity in Winsted, Connecticut, presents two combined commercial parcels totaling 1.43 acres along Route 44. The first parcel, encompassing 1.08 acres, includes a 648 sq. ft. masonry building suitable for retail or takeout food service, reflecting its past uses. The second parcel, spanning 0.35 acres, features an 800 sq. ft. building with a history as a bar and cafe. A significant portion of the property extends across Indian Meadow Brook, offering unique expansion possibilities. The addition of a footbridge could create exciting opportunities for outdoor seating, expanded retail space, or other creative ventures. This prime location at the west end of Winsted provides high visibility and substantial daily traffic, serving as a gateway for traffic entering the town. The property is zoned Gateway, allowing for a variety of uses. The asking price is $319,900, with an occupancy date of October 1, 2024. This property is ideal for entrepreneurs seeking a high-impact location with significant redevelopment potential. The combined parcels offer a unique blend of existing structures and expansion opportunities, making it an attractive investment for a variety of business ventures.

• CAP approach

  CAP return

  Valuation

  6%

  $194,428

  6.5%

  $179,472

  7%

  $166,653

• Comparable approach

  Method

  Valuation

  Relative Method

  $263,411

  Geo Method

  $263,411

• Alternative Use

  Use

  Valuation

  Residential

  $151,391

  Hospitality

  $138,674

  Educational

  $115,375

  Medical

  $119,343

  Retail

  $179,472

Location Insight

City

Winsted

County

Litchfield

State

Connecticut

Latitude

41.9304

Longitude

-73.0791

CBSA code

45860

CBSA name

TORRINGTON, CT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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