$361,500
$389,900
7.3%For more information regarding the value of a property, please contact us for a free consultation.
8,082 SqFt
SOLD DATE : 10/03/2023
Key Details
Sold Price $361,500
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 8,082 sqft
Price per Sqft $44
MLS Listing ID 170585782
Sold Date 10/03/23
Year Built 1880
Annual Tax Amount $4,917
Lot Size 0.600 Acres
Property Description
Unique 12% CAP Rate Investment Opportunity in booming college town 5 minutes from UCONN. Mixed use property includes 2 retail units (2280 sf & 1500sf) & 2 residential apartments (1200 sf each). Easily $63,600 in annual rental income in current condition with great potential to increase income with some property TLC. Solid structure with new roof & exterior paint job in 2022, new front porch in 2018, and new septic in 2012. Apartments need cosmetic upgrades to maximize rental income from students. 18 parking spaces make the Historic Mansfield Center General Store retail space great for a coffee shop, general store, or specialty shop. Rare opportunity for significant financial return in an incredible location with a property beloved by the Mansfield Community.
Location
State CT
County Tolland
Zoning NB2
Interior
Heating Hot Air
Cooling None
Flooring Wood
Exterior
Parking Features Unassigned Parking
Utilities Available Electric, Gas, Cable
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot
Story 2
Foundation Stone
Sewer Shared Septic
Water Other
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Bought with Tom Pentalow • Property Shoppe, LLC