103 Main StSomers, CT 06071

Property Details for 103 Main St

Year built

2002

Construction

FRAME

Lot size

0.92 AC

Property size (Sq ft)

1,925 SF

Zone code

B

Property type

Retail properties

Property subtype

Retail space

APN

SOME M:21 B:06

APU

SOMEM21B06

Description

This exceptional commercial property at 103 Main Street, Somers, CT, presents a rare investment opportunity. The 3,325 square foot building sits on a 0.92-acre lot and is ideally located on Route 190, a major commuter route in Northern Connecticut, ensuring high visibility and accessibility. The property includes an established and profitable wine and liquor store with a loyal customer base, offering immediate income potential. In addition to the thriving liquor store, the building features a vacant retail space, previously used as an ice cream shop and storage, providing significant expansion or redevelopment possibilities. An attached greenhouse adds further versatility. Ample parking and a convenient loading area cater to both customers and deliveries. This property offers a unique blend of established business and significant development potential, making it an attractive investment for both seasoned entrepreneurs and those seeking a profitable venture in a desirable location. The property's prime location in a busy commercial area, combined with its diverse offerings, presents a compelling opportunity to expand an existing business or create a new one. The combination of the established liquor store, vacant retail space, and greenhouse provides a flexible platform for various business models and future growth. This is a chance to acquire a well-positioned property with immediate income and substantial long-term potential in a thriving Connecticut community.

• CAP approach

  CAP return

  Valuation

  6%

  $467,842

  6.5%

  $431,854

  7%

  $401,008

• Comparable approach

  Method

  Valuation

  Relative Method

  $633,832

  Geo Method

  $633,832

• Alternative Use

  Use

  Valuation

  Residential

  $364,285

  Hospitality

  $333,683

  Educational

  $277,621

  Medical

  $287,168

  Retail

  $431,854

Location Insight

City

Somers

County

Tolland

State

Connecticut

Latitude

41.9855

Longitude

-72.4902

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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