Discover the perfect opportunity with this exceptional commercial property at 455 Portland Cobalt Rd in Portland, CT. This expansive 9. 5-acre parcel features two structures, offering immense potential for various commercial ventures. The large, level lot provides ample space for development, parking, or expansion, making it ideal for a wide range of commercial uses. The property includes an 864 sq ft building, formerly a breakfast restaurant, that could possibly be repurposed for a cafe, retail space, or office. Additionally, there is a spacious 2160 sq ft structure that once housed the Portland Veterinary Hospital, which could be suitable for medical offices, clinics, or professional services. Or raze it all, and start a new project! Enjoy the assurance of fantastic visibility with eastbound traffic and exposure to over 15, 200 vehicles per day as per the Department of Transportation. Centrally located in Connecticut, this property offers convenient access to major highways, ensuring it's easily accessible for customers and clients from across the state. This versatile property is perfect for entrepreneurs and investors looking for a project in a prime location. Whether you envision a bustling restaurant, a thriving retail center, or a professional office complex, 455 Portland Cobalt Rd offers the space and visibility to bring your vision to life. Opportunities like this are rare. Take advantage of the fantastic exposure and central location to make a landmark in Portland!
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William Raveis Real Estate
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Contact@raveis.com
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William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $600,000 | $600,000 | $600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.551% | 7.159% | 6.276% |
Monthly Tax Payment | $1,024 | $1,024 | $1,024 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,992 | $3,988 | $5,060 |
Total Monthly Payment | $5,108 | $5,104 | $6,176 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.