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$ 1,300,000
Est. payment | /mo
7,238 SqFt
$ 1,300,000
Est. payment | /mo
7,238 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,238 sqft
Price per Sqft $179
MLS Listing ID 24029135
Year Built 1955
Annual Tax Amount $17,367
Lot Size 0.260 Acres
Property Description
Incredible Investment Opportunity directly in Downtown Torrington featuring extremely stable income at above market returns and extremely low operating costs. The property sits just steps away from city hall on an EXTREMELY high traffic corner parcel intersection in Downtown Torrington with excellent visibility (16,000 VPD count), easy pedestrian and vehicle accessibility with a private parking lot with overflow and 16 cash flowing units. Benefit from an extensive 2024 renovation providing little to no deferred maintenance. Property features city water/sewer, gas, new common area mailboxes, upgraded interior/exterior surveillance systems, energy efficient tinted windows, new LED Lights, a new roof, new flooring/carpeting, and all new HVAC units and mechanicals. The thriving Torrington economy provides a very high absorption rate and as a result, the property is 100% leased to a wide variety of tenants (lawyers, tax professionals, insurance, salon, roofing contractors, therapists, board games, recording studio, stretch therapy, etc). Value add potential for anyone looking to turn all the below market leases to NNN, rooftop opportunities for billboards and cell towers. Property is just minutes from Charlotte Hungerford Hospital and the Litchfield County Courthouse, creating an ideal workplace for legal and healthcare professionals. Great for Passive Income/Absolute Minimum Landlord Responsibilities.
Location
State CT
County Litchfield
Zoning DD
Interior
Interior Features Security System, Window Display
Heating Hot Water
Cooling Central Air
Exterior
Utilities Available Electric, Gas
Roof Type Rubber
Building
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Zach Pranger • Group Realty LLC
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Joe And Jocelyn Maggi
REALTOR® | Lic# 9088667 | 9555634