$1,550,000
$1,650,000
6.1%For more information regarding the value of a property, please contact us for a free consultation.
8,831 SqFt
SOLD DATE : 06/16/2024
Key Details
Sold Price $1,550,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 8,831 sqft
Price per Sqft $175
MLS Listing ID 24003536
Sold Date 06/16/24
Year Built 1988
Annual Tax Amount $10,202
Property Description
Class A Building with Absolute NNN leases! GORGEOUS NNN INVESTMENT PROPERTY FOR SALE IN DOWNTOWN MYSTIC. "The Anchor Building" has been extensively renovated inside and out in 2024 and is 100% leased, yet still has enormous value add potential (undeveloped land, top floor can be converted into a 1,350 sqft tenth unit, and rooftop cell tower opportunities all boost income substantially). Enjoy cashflow stability from Mystic's thriving Downtown economy and minimal landlord responsibilities with NNN leases. Utilities are metered separately and paid by tenants. Less than a one minute walk to the Mystic Train Station and a five minute walk to the famous Mystic Bascule Bridge! Investment grade real estate in Mystic (named the 4th best travel destination in the U.S.) doesn't come on the market often and doesn't stay for long, so don't miss out on this opportunity to own a piece of Mystic's Historic and Ever Popular Downtown Community! Energy efficient building with high end solar panels, flood proof design with a raised foundation, a hurricane proof awning, and a 24k gold leaf anchor sign! Cell tower value add opportunity and 4th floor buildout value add opportunity along with the value add opportunity of developing the land next door that belongs to this property presents various various means to huge upside for any investor not to mention Mystic's huge market growth potential to be the next Newport, Rhode Island. Building was fully renovated in 2024.
Location
State CT
County New London
Zoning Office Bldg
Interior
Heating Heat Pump
Cooling Ductless, Window Unit
Exterior
Parking Features None
Utilities Available Electric, Gas, Cable
Roof Type Asphalt Shingle
Building
Lot Description Cleared
Story 3
Sewer Public Sewer Connected
Water Public Water Connected
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Bought with Michele Hance • Keller Williams Realty