1 Bridge St, Norwich, CT

$550,000

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3,678

Square feet

0.45

Acres

About 1 Bridge St

Brody's Seafood Market and Deli! Ideal Opportunity to own a well-established, turnkey business with a beloved & consistent customer following in a highly visible location. Brody’s is known for the many choices its customers have, including an onsite restaurant, a retail Fresh Seafood Market, quality ice cream, and a fully stocked convenience store, all laid out on a first floor, 3,678 Square Feet. Upgrades to mechanicals and equipment were completed in 2018. This investment opportunity brings tremendous income growth to its already profitable business model, potentially building out an existing 2nd and 3rd floor for rental income. These floors have the potential for multiple residential units that could be eligible for grants from Norwich Community Development Corporation with the Norwich Revitalization Program totaling $300,000. If you have been searching for a well-established income-generating business with a customer following, this would be your opportunity. *Investment Assumptions: 25% Down, 0% Vacancy, 3% reserves for replacement, 0% management fees, No Depreciation Accounted for, $18,000 in yearly rents while market suggests $43,474. YIELDS: NOI of $76,127 with an additional $39.188 (28.5%) return on investment. No seller financing will be permitted. All buyers must provide proof of funds before viewing the property. *Information deemed to be reliable but not guaranteed. The buyer must verify income streams in tandem with the seller.

Features of 1 Bridge St

MLS® # 170521248
Price $550,000
Bathrooms 0.00
Square Footage 3,678
Acres 0.45
Year Built 1864
Type Commercial/Investment
Sub-Type Investment, Retail
Status Active

Community Information

Address 1 Bridge St
Area Taftville
City Norwich
County New London
State CT
Zip Code 06360

Amenities

Utilities Electric, Gas, Fire Suppression System
Parking Paved, Off Street Parking, Parking Lot
Garages Paved, Off Street Parking, Parking Lot
Is Waterfront No
Has Pool No

Interior

Interior Features Fire Suppression System, Loading - Dock Height
Heating Hot Air, Natural Gas
Cooling Central Air
Fireplace No
# of Stories 3

Exterior

Exterior Features Awnings, Gutters
Lot Description Dry, Level Topography
Roof Asphalt Shingle
Construction Frame
Foundation Concrete, Stone

Additional Information

Date Listed September 6th, 2022
Days on Market 28
Zoning NC
RE / Bank Owned No

Listing Details

OfficeSeaport Real Estate Services

Listing Map

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