60 Boston Post RdMadison, CT 06443

Property Details for 60 Boston Post Rd

Year built

1812

Lot size

1.91 AC

Property size (Sq ft)

3,153 SF

Zone code

C

Property type

Motels

APN

MADI M:44 B:53

APU

MADIM44B53

Description

This exceptional investment opportunity presents a newly remodeled mixed-use commercial property ideally located on a 1.91-acre lot along the high-traffic Boston Post Road in Madison, Connecticut. The property boasts 6,705 square feet of space and offers significant road frontage, ensuring high visibility and accessibility for businesses. Currently, the property enjoys 90% occupancy. The building comprises nine one-bedroom motel rooms, a fully equipped one-bedroom apartment with a full kitchen, living/dining room, and 1.5 bathrooms. In addition, there are four office spaces and four retail spaces available. Recent significant improvements include a completely new roof and electrical system, along with extensive remodeling of most rooms. The expansive 1.91-acre lot provides ample room for future expansion, allowing for the potential addition of more lodging units, retail space, or other commercial ventures. This property offers a solid foundation for a diverse range of business opportunities and represents a compelling investment prospect for those seeking a high-return, mixed-use asset in a desirable location. The combination of existing income and expansion potential makes this a truly unique opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $592,093

  6.5%

  $546,547

  7%

  $507,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $968,132

  Geo Method

  $968,132

• Alternative Use

  Use

  Valuation

  Residential

  $596,671

  Hospitality

  $546,547

  Educational

  $454,721

  Medical

  $470,360

  Retail

  $707,344

Location Insight

City

Madison

County

New Haven

State

Connecticut

Latitude

41.2854

Longitude

-72.6419

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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