Property profile

2 Main St Baltic, CT 06330

OFF-MARKET
Showrooms
Property ID
US15-0608693
2,268 SF 0.78 ac lot Built 1964
Individually Owned 9-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional single-story brick commercial building, situated at 2 Main Street in Sprague, Connecticut, presents a compelling investment opportunity. Spanning 2,268 square feet, the property sits on a sizable 0.78-acre lot, providing ample off-street parking for approximately ten vehicles. The building's prime location on Main Street in the Baltic area ensures high visibility and accessibility. A significant advantage is the long-term lease currently in place with the United States Postal Service. This lease extends until 2029, with two additional five-year renewal options, potentially securing rental income until 2039. This provides exceptional stability and predictability for investors seeking a low-risk, high-yield asset. The building's sturdy brick construction ensures durability and low maintenance costs. The substantial lot size offers potential for future expansion or development, adding further value to this already attractive investment. Given the strong tenant and the extended lease terms, this property represents a rare opportunity to acquire a stable, income-generating commercial asset in a desirable location. The asking price of $325,000 reflects the exceptional value and potential of this property. Serious inquiries are encouraged.

Property profile

Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1964
Construction FRAME
Total area 2,268 SF
Lot 0.78 ac (33,977 SF)
Zoning code C-2
APN SPRA M:26 B:08 L:01
UPID US15-0608693

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Wine and Liquor Store
  • Post Office Logistics Service
  • (Bike/Boat/Book/etc) Store

Location

2 Main St Baltic, CT 06330-7000
Baltic metro Census 711100 NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$230k

Owner & transaction history

since 2017
2 recorded transactions
2017
$500
2012
$1

Zoning & alternative use

C-2 · Baltic, CT

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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