454 Storrs RdMansfield, CT 06250

Property Details for 454 Storrs Rd

Year built

2009

Construction

CONCRETE

Lot size

0.30 AC

Property size (Sq ft)

1,206 SF

Zone code

NB2

Property type

Showrooms

APN

MANS M:29 B:111 L:3

APU

MANSM29B111L3

Description

Exceptional investment opportunity: a thriving liquor store in Mansfield, Connecticut, is available for purchase. This single-tenant, net-lease property boasts 1,206 square feet of retail space situated on a 0.3-acre lot with ample parking for 20 vehicles. Built in 2009 and renovated in 2016, the property features a professional interior design, including 11 glass-door refrigerators and a full basement. The current lease is a Net Lease agreement with a monthly rent of $2,500. The property's strong financial performance is reflected in its impressive NOI of $454,802 and a cap rate of 82.77%. The asking price for the real estate is $549,500. The store enjoys a strategic location just 2.5 miles from the University of Connecticut, benefiting from high foot traffic and a loyal customer base. Its product mix includes wine (35%), liquor (30%), beer (35%), and lottery tickets (generating approximately $500 in sales). The property is zoned NB2 and offers a significant return on investment for qualified buyers. Owner financing may be available for experienced and financially qualified purchasers. Note that the business and real estate must be sold together.

• CAP approach

  CAP return

  Valuation

  6%

  $293,100

  6.5%

  $270,554

  7%

  $251,229

• Comparable approach

  Method

  Valuation

  Relative Method

  $397,091

  Geo Method

  $397,091

• Alternative Use

  Use

  Valuation

  Residential

  $228,222

  Hospitality

  $209,050

  Educational

  $173,928

  Medical

  $179,909

  Retail

  $270,554

Location Insight

City

Mansfield Center

County

Tolland

State

Connecticut

Latitude

41.7592

Longitude

-72.1951

CBSA code

25540

CBSA name

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

Property Tax & Assessments

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