73 Ferry StMiddletown, CT 06457

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

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.

• 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

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