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2 Main St Sprague, CT 06330

For Sale
$199,900

Single-story commercial building in Baltic, CT, leased to USPS.

Lot size:
0.78 Acres

Property Features for 2 Main St

General Information

Lot size
0.78 Acres

Building Details

Year built
1964

Source: Seabury Hill REALTORS Agent John Hill

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Commercial Building with Postal Office Lease

This single-story brick commercial building, offering 2,268 square feet, is situated on Main Street in Baltic, CT, on a 0.78-acre lot. It features off-street parking for approximately 10 cars. The property is currently under a long-term lease with the United States Postal Service, which extends until 2029, with options to renew for two additional five-year periods until 2039. The current annual rent is $28,000. The lease agreement includes rent increases to $30,800 per year for the first five-year option and $33,800 for the second five-year option. As part of the lease, the tenant is responsible for utilities, lawn care, and snow removal. The landlord is responsible for taxes, insurance, and building maintenance. This property presents an investment opportunity with a tenant already in place.
Insight Report Location Intelligence

Current Use by Public Records

Baltic Wine & Spirits Liquor Store United States Postal ... Post Office FAST-MAT LAUNDROMAT Laundromat

Suggested Use

Restaurant Building Supply Wholesale Shop Auto Repair Shop Clothing Store Auto Parts Store Gym & Fitness HVAC Service Furniture Store Electrical Service

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Sprague
County
New London
State
Connecticut
Longitude
-72.08575
Latitude
41.616451

FAQs

What type of property is this?
Office building - Single-story commercial building in Baltic, CT, leased to USPS.
Where is this office building located?
The property is located at 2 Main St Sprague, CT.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: - Long-term lease with the United States Postal Service in place until 2029 with options to renew until 2039.; - Guaranteed rental income of $28,000 per year, increasing to $30,800 and $33,800 in option periods.; - Tenant responsible for utilities, lawn care, and snow removal.
More about this property
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