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1 Bridge Street

Norwich, CT 06360
  • $499,999
  • STATUS: Active Under Contract
  • ON SITE: 148 Days
  • MLS #: 170521248
Under Contract
UPDATED: 197 min ago
$499,999
  • 0
    BEDS
  • 0.45
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,678
    SQFT
  • $136
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1864
County:
Area:

School Ratings & Info

Description

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. Brodys 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.

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The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2023 SmartMLS, Inc. Data last updated: 2023-02-02T00:09:50.453.
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1 Bridge Street Norwich, CT 06360

  • Price: $499,999
  • Status: Active Under Contract
  • On Site: 148 Days
  • Updated: 197 min ago
  • MLS #: 170521248
0
Beds
0
Baths
0
½ Baths
0.45
Acres
3,678
SQFT
$136
$/SQFT
1864
Built
Neighborhood:
Taftville
County:
New London
Area:
Norwich
Property Description
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. Brodys 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.
Exterior Features

Construction Description Frame Exterior Features AwningsGutters Foundation Type ConcreteStone Lot Description DryLevel Lot Parking Total Spaces 0 Road Frontage Approximate 125 Road Frontage Description Municipal StreetRight Of Way Roof Information Asphalt Shingle

Interior Features

Cooling System Central Air Heat Type Hot Air Interior Features Fire Suppression SystemLoading - Dock Height Restrooms Number Of 2

Property Features

Bank Owned Property Yn No Commercial Category InvestmentRetail Complex Name Brody's Seafood Documents Available BrochureDemographic DataLead DisclosureLegal Description Flood Zone Yn No Garage Parking Info PavedOff Street ParkingParking Lot Heat Fuel Type Natural Gas Location Historic Area Possession Availability 60 Days Potential Short Sale Yn No Potential Use Upstairs Multifamily Present Use Restaurant/Grocery Store Property Tax 9482 Sewage System Public Sewer Connected Sign Yn No Tenants Number Of 1 Utilities Available ElectricGasFire Suppression System Water Source Public Water Connected Zoning Nc

Listing information © 2023 Smart MLS
Listing provided courtesy of Tim J Bray of Seaport Real Estate Services: (860) 245-9200.


The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2023 SmartMLS, Inc. Data last updated: 2023-02-02T00:09:50.453.
 
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