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619 East Main Street, East SideBridgeport, CT 06608Sale Price: $220,000

  • Sale Price: $220,000
  • 6 Days Since Sale
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Federal 30-year interest rate: 5.25% last updated on May 19, 2022
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $260,000List Price
  • 0.22Acreage

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Flat, corner lot approved for mixed-use luxury rentals and commercial shopping! This privately owned land has approved plans in-place as pictured to build a 10,800 SF of 3 story-mixed-use building comprising retail stores and residential units. Also added all residential plans for alternate option to build. Only a few blocks away from Bass Pro Shops and the Steel Point Harbor, where large scale commercial, hotel, and luxury condo investments are on the way, two blocks from the i95 entrance ramp to NY and right on the bus line, this land when developed is ideal for long-term rental income. Conservatively, current market rent for a retail store of this size is $1,500-$1600/month, and 2-bedroom units are $1,350-$1,400/month. The appraisal for this property, as is with the approved permits, would yield $349,000. A detailed income/operating expense chart based on this data is included in supplements. 100'x100' (30.5mx30.5m), land in the OR (Office-Residential) zone, the approved plans boast four retail stores on the ground floor and eight 3-bedroom units on second and third floors with a 19-car parking lot in rear. This project has gone before Board of Zoning Appeals and Planning and Zoning Boards, and has secured approvals to permit the construction as displayed. All of the difficult back-end work has been completed. Now is your opportunity to build it and profit!

Property Details of 619 East Main Street, East Side

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Listed by Brian Appel of Higgins Group Real Estate

Listing Sold by Tri-State Realty

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