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$ 849,900
Est. payment | /mo
3 Baths
5,852 SqFt
$ 849,900
Est. payment | /mo
3 Baths
5,852 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,852 sqft
Price per Sqft $145
MLS Listing ID 24122912
Full Baths 3
Year Built 1950
Annual Tax Amount $8,477
Property Description
INVESTOR AND DEVELOPER ALERT: This is a prime, high-potential Transit-Oriented Development (TOD) Zone mixed-use opportunity in a central, busy downtown West Haven corridor, priced at $849,900. This asset offers a spectacular 10.70 Cap Return based on the utilization of vertical expansion rights for the addition of 4+ residential units above the existing 3,000 SF of retail space. The property features a critical combination of a flat roof, easy access, and 12 dedicated parking spots, making the mixed-use expansion highly feasible and financeable. The current below-market rents are irrelevant, as the building will be delivered empty at closing for immediate repositioning and development. The purchase price is well below replacement cost for this type of TOD-zoned asset. The full development analysis, including the detailed Pro Forma breakdown and Net Operating Income (NOI) of $90,972, is located in the ATTACHED PDF DOCUMENT-review this document immediately. Serious, qualified investors should not miss this low-inventory, high-potential TOD asset; all proposals must be sent directly to the agent's professional electronic mail address in PDF form only. Get in touch with the agent through this platform's messaging system to schedule a confidential site visit. Priced at $849,900.
Location
State CT
County New Haven
Zoning TOD
Interior
Heating Hot Air
Cooling Central Air
Exterior
Parking Features Paved, Parking Lot, Off Street Parking
Utilities Available Electric, Gas
Roof Type Flat
Building
Lot Description Level Lot
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Tracey Virtue • RE/MAX One
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Jon Sigler
Sales Associate | RES.RES.0808054