Unique opportunity to purchase steel constructed flexible building with full basement, elevator, sprinkler system, and adjacent paved parking lot for approx 28 cars. Currently 75 % occupied with month to month leases to allow new owner to realize future plans, design, and use. One block south of Lawrence and Memorable Hospital and approximately 2 miles to Ocean Beach. Currently housing International Food Market on ground floor with 2nd and 3rd stories set up for flexible office space. Rare opportunity for flexible use and the benefits of paved parking lot. Usable area 3597 sq. ft per floor and basement
Frontage:
Municipal Street
Garage:
Parking Lot, Off Street Parking
Heating:
Baseboard, Hot Air, Hot Water
Current Use
Currently owner occupied with 2 upper stories leased as office space
Permitted Use
Potential added 4th floor for expansion
Utilities
Electric,Gas,Telephone,Fire Suppression System
Lot Description:
Dry,Level Lot,Cleared
Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Norm Krayem, Berkshire Hathaway NE Prop. Email: normkrayem@bhhsne.com
464 Ocean Avenue, New London, CT, 06320
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
CT Mortgage Lender ML-2630 - MA Mortgage Lender and Mortgage Broker #MC2630 - NH Mortgage Banker #11083-MB - RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB - NY Licensed Mortgage Banker - NYS Department of Financial Services LMBC 106535 / B500898 - NJ Residential Mortgage Lender 2630 - FL Mortgage Lender MLD1388 - VT Lender & Mortgage Broker #6952 & #1297MB
