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880 Boston Post Rd
Old Saybrook, CT 06475
Retail Property For Sale
Investment Highlights
- Prime Boston Post Road visibility, less than half a mile from Main Street
- `13,836 SF two-story building
- B-2 zoning allows flexible commercial and potential mixed-use opportunities, subject to approvals
- Fully occupied ground-floor commercial spaces
- Large upper-level office space with redevelopment potential!
- 25 on-site parking spaces
Executive Summary
Unique mixed-use investment and redevelopment opportunity. The ground-floor commercial spaces are fully occupied, providing immediate rental income, while the upper level offers approximately 3,540 square feet of office space. The expansive second floor may also offer the potential to be converted into two oversized three- or four-bedroom residential units, subject to zoning and municipal approvals. This property combines stable existing occupancy with significant value-add potential in a desirable shoreline location.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Building Size
13,836 SF
Building Class
C
Year Built/Renovated
1960/2006
Price
$1,500,000
Price Per SF
$108.41
Cap Rate
6.09%
NOI
$91,356
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.62
Lot Size
0.51 AC
Zoning
B-2 - B-2 zoning may allow second-floor residential use through site plan approval, subject to unit, parking, building, and fire-code requirements.
Parking
25 Spaces (3.1 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Air Conditioning
Property Taxes
| Parcel Number | OSAY-000036-000162 | Improvements Assessment | $298,300 |
| Land Assessment | $237,900 | Total Assessment | $536,200 |
Property Taxes
Parcel Number
OSAY-000036-000162
Land Assessment
$237,900
Improvements Assessment
$298,300
Total Assessment
$536,200
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