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184 Flanders Rd 5,394 SF Retail Building Niantic, CT 06357 $945,000 ($175.19/SF) 4.93% Cap Rate
Investment Highlights
- Excellent site for commercial and mixed land use
- Regular updating of property
- Significan frontage on busy primary street with adequate paved parking (6090 sqft) and additional gravel area in back for parking/storage
Executive Summary
This 1.28-acre property is located on one of East Lyme’s primary corridors and boasts over 200 feet of frontage with an A.A.D.T. of 15,100 vehicles. Minutes from I-95 and I-395, this two-floor mixed use building is zoned for commercial use. The first floor is made up of a 1170 sf retail space with a 13 ft high ceiling and a 3-bay garage of 1478 sf, with a ceiling height of 18 feet. The second floor houses three 688 sf 1-bedroom apartments. In addition, an attached 530 sf 3 season porch is attached to one of the apartments. Lastly, there is a 500 sf attached 1-car garage and a 192 sf loft above a bay. The property, being sold as is, has had several updates and is connected to public water/sewer with a land to building ratio of 8.56:1.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,394 SF
Building Class
C
Year Built/Renovated
1940/2022
Price
$945,000
Price Per SF
$175.19
Cap Rate
4.93%
NOI
$46,550
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.10
Lot Size
1.28 AC
Zoning
CA - mixed-use; auto sales/service; restaurant, fast food; business; professional office, retail; bakery
Frontage
200’ on Flanders Road
Nearby Major Retailers
Property Taxes
| Parcel Number | ELYM-002603-000013 | Total Assessment | $381,360 (2025) |
| Land Assessment | $213,430 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $167,930 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
ELYM-002603-000013
Land Assessment
$213,430 (2025)
Improvements Assessment
$167,930 (2025)
Total Assessment
$381,360 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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184 Flanders Rd LLC
184 Flanders Rd
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