Stonington, CT 06355,4 Broadway Ave Ext

$1,550,000

$1,650,000

6.1%
Est.Price: ?

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Est. payment /mo

8,831 SqFt


SOLD DATE : 06/16/2024

Key Details

Sold Price $1,550,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 8,831 sqft

Price per Sqft $175

MLS Listing ID 24003536

Sold Date 06/16/24

Year Built 1988

Annual Tax Amount $10,202

Property Description

Class A Building with Absolute NNN leases! GORGEOUS NNN INVESTMENT PROPERTY FOR SALE IN DOWNTOWN MYSTIC. "The Anchor Building" has been extensively renovated inside and out in 2024 and is 100% leased, yet still has enormous value add potential (undeveloped land, top floor can be converted into a 1,350 sqft tenth unit, and rooftop cell tower opportunities all boost income substantially). Enjoy cashflow stability from Mystic's thriving Downtown economy and minimal landlord responsibilities with NNN leases. Utilities are metered separately and paid by tenants. Less than a one minute walk to the Mystic Train Station and a five minute walk to the famous Mystic Bascule Bridge! Investment grade real estate in Mystic (named the 4th best travel destination in the U.S.) doesn't come on the market often and doesn't stay for long, so don't miss out on this opportunity to own a piece of Mystic's Historic and Ever Popular Downtown Community! Energy efficient building with high end solar panels, flood proof design with a raised foundation, a hurricane proof awning, and a 24k gold leaf anchor sign! Cell tower value add opportunity and 4th floor buildout value add opportunity along with the value add opportunity of developing the land next door that belongs to this property presents various various means to huge upside for any investor not to mention Mystic's huge market growth potential to be the next Newport, Rhode Island. Building was fully renovated in 2024.

Location

State CT

County New London

Zoning Office Bldg

Interior

Heating Heat Pump

Cooling Ductless, Window Unit

Exterior

Garage None

Utilities Available Electric, Gas, Cable

Roof Type Asphalt Shingle

Building

Lot Description Cleared

Story 3

Sewer Public Sewer Connected

Water Public Water Connected

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Listed by Zach Pranger • Group Realty LLC
Bought with Michele Hance • Keller Williams Realty

GET MORE INFORMATION

Osi Rosenberg

Broker | REB.0791464

+1(203) 738-5999

2051 Main St, Stratford, CT, 06615

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