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$ 3,500,000
Est. payment | /mo
205,603 SqFt
$ 3,500,000
Est. payment | /mo
205,603 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 205,603 sqft
Price per Sqft $17
MLS Listing ID 24137029
Year Built 1900
Annual Tax Amount $12,189
Lot Size 0.970 Acres
Property Description
Prime Mixed-Use Investment & Development Opportunity - Old Saybrook, CT Attention investors, developers, restauranteurs, and retail property owners: Situated on a high-visibility corner lot along Boston Post Road, this mixed-use property combines strong existing income with exceptional development potential in one of the shoreline's fastest-growing markets.The offering includes:9,060 SF fully renovated commercial building (on 0.97 acres) currently operating as a restaurant with banquet space, lounge, private office, dining areas, waiting room, and multiple restrooms. 1,300 SF single-family residence generating consistent rental income. 3.75 acres of land (approx. 70% developable, 30% wetlands) offering expansion potential for retail or multifamily/apartment development.Shared and expanded parking lots servicing both structures.Old Saybrook has seen a wave of successful mixed-use and retail/residential developments along Boston Post Road - including 907 Boston Post Rd. (Saybrook Junction redevelopment) and 980 Boston Post Rd. (commercial/retail expansion) - demonstrating the town's strong demand for high-quality investment property. All assets (commercial building, residence, and land) are to be sold together. Final approvals subject to buyer due diligence with the Town of Old Saybrook Planning & Zoning. Contact listing agent for walk-through and showing today!
Location
State CT
County Middlesex
Zoning B-4
Interior
Heating Hot Air
Cooling Central Air, Ductless
Flooring Wood
Exterior
Parking Features Paved
Utilities Available Electric, Gas, Cable, Fire Suppression System
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot, Some Wetlands, Additional Land Avail., Level Lot
Foundation Concrete
Sewer Septic
Water Public Water Connected
Listed by Tyler DeVecchis • Century 21 AllPoints Realty
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