New Listing - 06/29/2024

$1,300,000

Est. Mortgage $6,574/mo *

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257 Main Street, Torrington, CT, 06790

257 Main Street, Torrington, CT, 06790
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1955

7,238 sqft

Incredible Investment Opportunity directly in Downtown Torrington featuring extremely stable income at above market returns and extremely low operating costs. The property sits just steps away from city hall on an EXTREMELY high traffic corner parcel intersection in Downtown Torrington with excellent visibility (16,000 VPD count), easy pedestrian and vehicle accessibility with a private parking lot with overflow and 16 cash flowing units. Benefit from an extensive 2024 renovation providing little to no deferred maintenance. Property features city water/sewer, gas, new common area mailboxes, upgraded interior/exterior surveillance systems, energy efficient tinted windows, new LED Lights, a new roof, new flooring/carpeting, and all new HVAC units and mechanicals. The thriving Torrington economy provides a very high absorption rate and as a result, the property is 100% leased to a wide variety of tenants (lawyers, tax professionals, insurance, salon, roofing contractors, therapists, board games, recording studio, stretch therapy, etc). Value add potential for anyone looking to turn all the below market leases to NNN, rooftop opportunities for billboards and cell towers. Property is just minutes from Charlotte Hungerford Hospital and the Litchfield County Courthouse, creating an ideal workplace for legal and healthcare professionals. Great for Passive Income/Absolute Minimum Landlord Responsibilities.

Status:

Active

Type:

Commercial

Units:

16

Zoning:

DD

Frontage:

Municipal Street

Heating:

Hot Water

Cooling:

Central Air

Acreage:

0.26

Est. Taxes:

$17,363

Assessment

$362,030

Utilities

Electric,Gas

Lot Description:

N/A

Days on Market:

2

MLS #:

24029135

Community Info

School Info

Walk Score

Mass Transit

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Listing courtesy of Zach Pranger, Group Realty LLC Email: zachary@eastcoastgrouprealty.com