73 Ferry StMiddletown, CT 06457
- Other commercial real estate
- 1,365 SF
Property Details for 73 Ferry St
- Year built
- 1920
- Construction
- FRAME
- Lot size
- 0.06 AC
- Property size (Sq ft)
- 1,365 SF
- Zone code
- B-1
- Property type
- Other commercial real estate
- Property subtype
- Showrooms
- APN
- MTWN M:22 L:0569
- APU
- MTWNM22L0569
Description
This exceptional 1,365 square foot commercial property located at 73 Ferry Street in Middletown, CT, presents a unique investment opportunity. Currently operating as a well-established bar, this turnkey business boasts a welcoming atmosphere and strong college-town clientele. The property's existing infrastructure includes income-generating amenities such as pool tables, a jukebox, and an ATM machine (to be installed). The current setup is ideal for an entrepreneur looking to own and operate a thriving neighborhood or college bar, capitalizing on the existing customer base and revenue streams. The asking price of $450,000 reflects the property's immediate earning potential and significant upside. Beyond the existing business, the property offers additional development potential. The rear of the lot presents a possibility for the construction of a two-family house, providing further investment opportunities and potential for increased revenue streams. This property is a rare find, combining a profitable existing business with significant future development potential in a desirable location. The property is situated in Middletown, CT, offering easy access to local amenities and a vibrant community. This is an exceptional opportunity for a savvy investor seeking a strong return on investment in a turnkey commercial property with significant expansion possibilities. The property is ready for immediate occupancy and operation, allowing for a seamless transition and quick start to generating income. Don't miss this chance to own a piece of Middletown's thriving commercial landscape.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $331,743
- 6.5%
- $306,224
- 7%
- $284,351
-
Comparable approach
- Method
- Valuation
- Relative Method
- $449,444
- Geo Method
- $449,444
-
Alternative Use
- Use
- Valuation
- Residential
- $258,311
- Hospitality
- $236,612
- Educational
- $196,858
- Medical
- $203,629
- Retail
- $306,224
Location Insight
- City
- Middletown
- County
- Middlesex
- State
- Connecticut
- Latitude
- 41.5636
- Longitude
- -72.651
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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