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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
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
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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