369 Boston Post RdOld Saybrook, CT 06475

Property Details for 369 Boston Post Rd

Year built

1800

Construction

FRAME

Lot size

0.61 AC

Property size (Sq ft)

2,820 SF

Zone code

B4

Property type

Other commercial real estate

Property subtype

Showrooms

APN

OSAY M:042 B:010 L:

APU

OSAYM042B010L

Description

This exceptional mixed-use property in Old Saybrook, CT, presents a unique owner-user opportunity. The 2,700 square foot building, constructed in 1870 and renovated in 2009, boasts 2,500 square feet of net rentable space currently at 50% occupancy, with full occupancy anticipated by August 1, 2024. The main level offers versatile commercial space ideal for a variety of businesses, featuring hardwood floors, a private customer bathroom, and multiple potential layouts to accommodate diverse needs. The property's zoning (B4) allows for a wide range of commercial uses. Adding to its appeal are two separate residential rental units on the second floor, each with a bedroom, eat-in kitchen, living room, and bathroom, providing a consistent income stream. Situated on a 0.61-acre lot, the property offers ample off-street parking with a paved driveway. Recent upgrades include a new hot water heater, new windows, and new siding, enhancing both functionality and curb appeal. The property also benefits from a highly visible location on Boston Post Road, experiencing over 12,000 vehicles daily, and features a lighted business sign for optimal marketing. This turnkey property is priced at $525,000 and offers a compelling blend of commercial space and rental income potential in a thriving Connecticut town.

• CAP approach

  CAP return

  Valuation

  6%

  $685,358

  6.5%

  $632,639

  7%

  $587,450

• Comparable approach

  Method

  Valuation

  Relative Method

  $928,522

  Geo Method

  $928,522

• Alternative Use

  Use

  Valuation

  Residential

  $533,654

  Hospitality

  $488,824

  Educational

  $406,696

  Medical

  $420,683

  Retail

  $632,639

Location Insight

City

Old Saybrook

County

Middlesex

State

Connecticut

Latitude

41.3059

Longitude

-72.372

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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