Mansfield, CT 06250,534 Storrs Road

$361,500

$389,900

7.3%
Est.Price: ?

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Est. payment /mo

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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Listed by Tom Pentalow • Property Shoppe, LLC
Bought with Tom Pentalow • Property Shoppe, LLC
agent-avatar

+1(203) 856-9968

ryan.loechner@exprealty.com

1266 E Main St, Stamford, CT, 06902

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