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27 Main Street, Terryville, CT

27 Main Street, Terryville
$549,000

Description

  • PROPERTY FEATURES: 
  • MCP is pleased to present 27 Main St., Terryville available for sale!
  • 2-story professional office building on Main St. / Rt-6, Terryville, CT.
  • 1st Floor- 2,000 SF- Leased to Bristol Hospital until 02/28/2025.
  • 2nd Floor- 2,000 SF- Vacant- 9 private offices, conference room, reception area, storage space, 2 bathrooms and a kitchenette.
  • 23 designated parking spaces.
  • Excellent location close to Bristol and just a few minutes to Rt-8.
  • Ownership proudly refers to this building as “The Nicest Building in Terryville”.
  • Ownership has started the process of seeking approvals to convert the 2nd floor into two 1-bedroom apartments and one 2-bedroom apartment. 
  • Ownership is also seeking approvals to construct four or five age restricted 55+ condo units in the rear parking lot.
  • SALES PRICE: 
  • $549,000

FINANCIALS-

 

  • Annual Income-
  • 1st Floor – 2,000 SF Leased to Bristol Hospital Multi Specialty Group Inc.
  • 1st Floor Lease Expires 02/28/2025
  • One 5-Year Option to Extend the Lease Until 02/28/2030.
  • 3% Annual Increases
  • 2022 Annual Base Income Not Including Nets: $23,897.28
  • Annual Income Including Nets & Landscaping & Snowplowing: $33,767.39
  • 2nd Floor- 2,000 SF Vacant Office Space Asking $1,333.33 Per Month Gross + Utilities + 50% Landscaping + 50% Snowplowing Expenses
  • Potential 2nd Floor Gross Annual Income Including 50% Landscaping & 50% Snowplowing Expenses- $19,000
  • Projected Total Income- $52,767.39
  • Annual Expenses-
  • Taxes- $8,140.22
  • Insurance- $1,600
  • Landscaping + Snowplowing- $5,000 with 1 Tenant or $6,000 with 2 Tenants (Additional Snowplowing Expense for Back Parking Lot)
  • Total Expenses- $14,740.22
  • Current NOI
  • $19,027.17
  • Projected NOI-
  • $37,027.17
  • Sales Price: $549,000

 

 

Total SF 4,000 SF +/-
Exterior Construction Brick
Interior Construction Drywall/ Sheetrock/ Carpet/ Asphalt Roof
Year Built 1989
Ceiling Height 8’
Heat Source/ Type Gas- Forced Air
A/C Central
Parking 23 Designated Spaces
Sewer City
Water City
Electric Eversource
Zoning C
Distance to RT-6

Distance to RT-8

Directly on RT-6

3.9 Miles

 

Property Documents

  • SALE- 27 Main St., Terryville
  • City: Terryville
  • State/county: Connecticut
  • Country: United States

Detail

Updated on May 12, 2022 at 4:37 pm

  • Property ID: MCP-5128
  • Price: $549,000
  • Property Size: 4000 S/F +/-
  • Year Built: 1989
  • Property Type: Office
  • Property Status: For Lease

Contact info

Noah Matthews
Noah Matthews
2037213337
Linkedin

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