This updated commercial building offers a prime investment opportunity, featuring a well-maintained convenience store with a secure 10-year lease at $2, 200 per month. The property also includes two fully updated 2-bedroom, 1-bath apartments, offering modern amenities and comfortable living spaces. One of the apartments is currently rented at $1, 600 per month, providing a steady rental income, while the other is vacant, presenting potential for additional rental income or owner occupancy. In addition to the commercial building, the property includes an adjacent 1/4-acre commercial lot, currently being used for parking. This lot opens up a variety of possibilities for expansion or redevelopment, with the buyer encouraged to check with the town for potential uses, offering flexibility for future plans. The property also includes off-street parking, enhancing convenience for tenants and customers alike.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
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 | $556,000 | $556,000 | $556,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.278% | 7.159% | 6.276% |
Monthly Tax Payment | $744 | $744 | $744 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,653 | $3,695 | $4,689 |
Total Monthly Payment | $4,489 | $4,531 | $5,525 |
* 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.