About 38 East Main St
Investment and or User opportunity in Downtown Mystic business area. Walking distance to Amtrak, downtown businesses, restaurants, etc. Minutes from I-95. First Floor entirely occupied and leased to National Wealth Management firm with a base term until 2026 and 2 5 year renewal options. Annual rent is currently +/- $75,000 with annual increases of 2.5% Second floor ( + / 3,000 SF ) currently two office suites but has potential for residential use with a special use permit under the current zone. Mystic commercial rents are stable and vacancy is low. Conversion of second floor to residential units could bring potential rental income of $60,000 or provide an owner with a seaside escape or full time residence.
Features of 38 East Main St
| MLS® # | 170485422 |
|---|---|
| Price | $1,400,000 |
| Bathrooms | 0.00 |
| Square Footage | 5,964 |
| Acres | 0.53 |
| Year Built | 1893 |
| Type | Commercial/Investment |
| Sub-Type | Office, Investment, Other |
| Status | Active |
Community Information
| Address | 38 East Main St |
|---|---|
| Area | Mystic |
| City | Stonington |
| County | New London |
| State | CT |
| Zip Code | 06355 |
Amenities
| Utilities | Electric, Telephone, Cable, Gas |
|---|---|
| Parking | Paved |
| Garages | Paved |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Heat Pump, Hot Air, Electric, Oil |
|---|---|
| Cooling | Central Air |
| Fireplace | No |
| # of Stories | 2 |
Exterior
| Lot Description | Level Topography |
|---|---|
| Roof | Asphalt Shingle |
| Construction | Frame |
| Foundation | Concrete |
Additional Information
| Date Listed | April 26th, 2022 |
|---|---|
| Days on Market | 87 |
| Zoning | LS-5 |
| RE / Bank Owned | No |
Listing Details
| Office | Northeast Property Group |
|---|