7 School Street $185,000

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    7 School Street Griswold, CT 06351

    • 4,734 sq. ft.
    • 0.16 Acres
    • Commercial
    • MLS# 170489505
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    Views: 1 Days On Site: 5

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    Property Details

    Attention investors! Desirable 9 unit mini plaza consisting of 8 ground level office/retail units plus a finished unheated bonus space on the 2nd floor. Great track record of occupancy and income, with upside potential and room for value add. Currently seven of the eight ground level units are rented, consisting of six tenants (one tenant is occupying two units). The eight ground floor unit is in the process of being renovated. Long-term tenants include an attorney'˜s office, a barbershop, and computer repair shop. Additional tenants includes a local contracting firm, Gaming and Simulations by Ben, and a clock repair shop. This plaza sits conveniently located with great exposure on a corner lot. Three of the units face Main Street with 68' of frontage, and the remaining four units face School St with 123' of frontage. Off street parking for several cars is included on the right hand side of the building, where there is also exterior access to the upstairs 9th bonus unit. This space is suitable for storage, but has also been rented in the past for musical instruments instruction. With town permission you may be able to convert to residential living space, buyer to do due diligence. Tenants have been great payers and are all current. Property is priced for condition. Whether you are a seasoned investor looking to pick up more cash flow, or someone looking for an investor's entry point to the market, this property presents excellent value and opportunity!

    • General Features
      • Zoning BC
      • Year Built 1850
      • Neighborhood Jewett City
      • Sq Ft Total 4,734
      • Acres 0.16
      • Bank Owned Property Y/N 0
      • Property Tax $6,045
      • County Or Parish New London
    • Building Features
      • Construction Description Frame
      • Cooling System Window Unit
      • Exterior Features Door Sign
      • Handicap Features Hard/Low Nap Floors
      • Heat Fuel Type Oil
      • Heat Type Baseboard
    • Property Features
      • Water Source Public Water Connected
      • Utilities Available Electric,Telephone,Cable Available
      • Parking Total Spaces 0
      • Sewage System Public Sewer Connected
      • Road Frontage Description State Road
      • Garage Parking Info Off Street Parking
      • Lot Description Corner Lot, Level Lot

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    Neighborhood

    06351 (Griswold) Demographics

    42 Median Age
    290 Population Density (per sq. mile)
    29% College Educated
    $70,110 Estimated Median Income
    5,001 Estimated Total Home Owners
    1,615 Estimated Total Renters
    76% / 24% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    15,877 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $205,000 Median Sales Price
    16 Homes Sold
    32 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $185,000
        5/13/2022 3:35:00 PM New in Database Source: Multiple Listing Service New Value: $185,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.