191 Providence StPutnam, CT 06260

Property Details for 191 Providence St

Year built

1899

Construction

FRAME

Lot size

0.15 AC

Property size (Sq ft)

3,168 SF

Property type

Other commercial real estate

Property subtype

Showrooms

APN

PUTN M:007 L:269 U:000

APU

PUTNM007L269U000

Description

This exceptional mixed-use property at 191 Providence Street in Putnam, CT, presents a unique investment opportunity. Boasting 3,168 square feet on a 0.15-acre lot, this building offers a versatile blend of commercial and residential space. The first floor commercial area features brand new vinyl plank flooring, two restrooms (one handicap accessible), and large storefront windows ensuring high visibility from the street. Its convenient location is adjacent to ample public parking and close to numerous other businesses and amenities, guaranteeing high foot traffic and accessibility. Upstairs, a beautifully remodeled residential unit awaits. This spacious residence includes two bedrooms, a primary bedroom with a large walk-in closet, a sizable dining area, a comfortable living room with a balcony overlooking Providence Street, and a large rear deck. The kitchen has been recently remodeled, and the hardwood floors have been refinished, creating a modern and inviting living space. The entire building benefits from the recent conversion to efficient natural gas heating, completed in 2023. This property is ideal for owner-occupants seeking to live above their business, generating additional income through commercial and/or residential rental. The combination of a thriving commercial space and a comfortable residential unit provides significant income potential and a rare opportunity in the Putnam market. The asking price is $399,900.

• CAP approach

  CAP return

  Valuation

  6%

  $769,935

  6.5%

  $710,709

  7%

  $659,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,043,106

  Geo Method

  $1,043,106

• Alternative Use

  Use

  Valuation

  Residential

  $599,510

  Hospitality

  $549,148

  Educational

  $456,884

  Medical

  $472,597

  Retail

  $710,709

Location Insight

City

Putnam

County

Windham

State

Connecticut

Latitude

41.9241

Longitude

-71.9099

CBSA code

49340

CBSA name

WORCESTER, MA-CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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