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$89,324

NOI

2.33

DSCR

13%

Cap

31%

ROI
NOI
$89,324
DSCR
2.33
Cap
13%
ROI
31%
$695,000
3 Retail Storefronts in Downtown

156 Main Street, Deep River, CT

Retail. $127 psf

$695,000

Connor Wenchell

VC Property Group

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Est. $4,260 /mo

Get Pre-Approved
Description Income Loan Terms

$26,276

NOI

0.69

DSCR

4%

Cap

-5%

ROI
% Proforma : % Proforma
45%
 Parking
On Street
Property Type Type
Retail
 Heating
Oil
Buildings
1
 Hot Water
Natural Gas
Parcel(s)
1
 Sewer
Public
Year Built
1924
 Water
Public
Occupancy Occ.
100%
 Trash
Owner Paid
Sqft
5460 sqft
 Utility Split
Tenant Paid
Lot Size
8712 acres
 Sprinklers
No
Highlights
  • Lease-up add value
  • Quaint downtown location
  • Updated Capex items

The walkability and quintessential New England charm of this downtown strip are all important considerations for small business owners and tourists alike. This is a rare opportunity to acquire a stabilized retail asset with recent CAP ex renovations on Main Street in Deep River. Inside the past 5 years the owner has replaced the entire roof, upgraded the electrical service and replaced all of the furnaces. Upon leasing up the existing units along with the 800sqft space in the rear of the building, this property will appraise north of $1M. For well qualified buyers we project an 80% LTV for the commercial bridge loan product.

Product Description

The walkability and quintessential New England charm of this downtown strip are all important considerations for small business owners and tourists alike. This is a rare opportunity to acquire a stabilized retail asset with recent CAP ex renovations on Main Street in Deep River. Inside the past 5 years the owner has replaced the entire roof, upgraded the electrical service and replaced all of the furnaces. Upon leasing up the existing units along with the 800sqft space in the rear of the building, this property will appraise north of $1M. For well qualified buyers we project an 80% LTV for the commercial bridge loan product.
Property Snapshot
45% Proforma
Property Type
Retail
Building(s)
1
Sqft
5460 sqft
Parcel(s)
1
Lot Size
8712 acres
Year Built
1924
Property Description

The walkability and quintessential New England charm of this downtown strip are all important considerations for small business owners and tourists alike. This is a rare opportunity to acquire a stabilized retail asset with recent CAP ex renovations on Main Street in Deep River. Inside the past 5 years the owner has replaced the entire roof, upgraded the electrical service and replaced all of the furnaces. Upon leasing up the existing units along with the 800sqft space in the rear of the building, this property will appraise north of $1M. For well qualified buyers we project an 80% LTV for the commercial bridge loan product.

Property Features
Utilities & Systems
Heating
Oil
Hot Water
Natural Gas
Water
Public
Sewer
Public
Trash
Owner Paid
Electric
Site Amenities
Parking
On Street
Unit Amenities
N/A
Residential Income
Current vs Proforma
Retail
$2,300
Retail
$2,000
Monthly
$4,300
$9,554
Annual
$51,600
$114,648
Operating Expenses
Annualized
Property Taxes
$10,111
Insurance
$2,700
HOA
$0
Electric
$0
Heating
$0
Water / Sewer
$1,800
Trash
$0
Vacancy
$4,920
Maintenance
$2,214
Management
$2,214
Others
$1,365
Total Expenses
$25,324
$25,324
Loan Terms
Scenario Builder
Sale Price
$695,000
Loan Term
25
Rate
7%
LTV
65%
P&I
$3,193
$3,193
Request loan quote from VC Property Group.
Connor Wenchell
Connor Wenchell
VC Property Group

Connor Wenchell


VC Property Group

Email
Call