38 East Main Street, Stonington, Connecticut 06355

$1,400,000
5,964
SqFt
List Price
$1,400,000
Status
ACTIVE
MLS#
170485422
Year Built
1893
Levels
2
Acres
0.53
Living Area
5,964

Property Description

Investment and or User opportunity in Downtown Mystic business area. Walking distance to Amtrak, downtown businesses, restaurants, etc. Minutes from I-95. First Floor entirely occupied and leased to National Wealth Management firm with a base term until 2026 and 2 5 year renewal options. Annual rent is currently +/- $75,000 with annual increases of 2.5% Second floor ( + / 3,000 SF ) currently two office suites but has potential for residential use with a special use permit under the current zone. Mystic commercial rents are stable and vacancy is low. Conversion of second floor to residential units could bring potential rental income of $60,000 or provide an owner with a seaside escape or full time residence.

Additional Information

Taxes
$23,304
Lot Size
23,086
Heating
Heat Pump, Hot Air
Fuel Type
Electric, Oil
Cooling System Type
Central Air
Sewer
Public Sewer Connected
Water Source
Public Water Connected

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Daniel Barber from Northeast Property Group

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