73 Ferry StMiddletown, CT 06457

  • Other commercial real estate
  • 1,365 SF
For Sale
$450,000 View listing

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
73 Ferry St, Middletown, Connecticut

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$2,965
$40,250
$44,210
$84,460
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-
-
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