Mixed-Use Opportunity on 8.98
227 W High St, East Hampton, CT 06424
Mixed-use property with commercial and residential units on 8.98 acres.
Type:Multifamily, Retail
Lot size:
8.98 Acres- Added:
- Mar 4, 2026
- Days on Market:
- 69
- Last Refresh:
- Mar 16 at 2:19 pm
Property Features for 227 W High St
General Information
- Standard status
- Active
- Lot size
- 8.98 Acres
- Property subtype
- Multifamily, Retail
Listing agent michelle lorenzetti License #CT
Listing office Premier Real Estate Investment Group
Listing date Mar 4, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Premier Real Estate Investment Group
HighLights
- Significant value‑add opportunity with potential to increase NOI from $44,434 to a projected $117,234 after stabilization.
- Priced at $450,000 to reflect environmental conditions and rehabilitation scope, offering a discounted entry point.
- High going‑in cap rate of 9.87% based on current income.
- Potential eligibility for Brownfield funds to cover environmental remediation costs (subject to development plans and confirmation).
- Projected stabilized valuation indicates a potential value multiple of 3.26x on the $450,000 basis (at an 8% cap rate).
- Mixed‑use property with one commercial unit and four residential units on approximately 8.98 acres.
Overview
This mixed-use property, situated on approximately 8.98 acres, presents a value-add opportunity. It comprises one commercial unit (bar) and four residential units, including an apartment, two cottages, and a single-family home. The property operates with well and septic systems. Environmental remediation is currently under Connecticut Department of Energy and Environmental Protection (CT DEEP) oversight, with a history of oil spill remediation. The project may qualify for Brownfield funds to cover remediation costs, contingent upon the development including six or more units, subject to confirmation. The current annual income is $61,200, with real estate taxes totaling $6,533, of which the bar reimburses 50%. The effective tax burden to ownership is approximately $3,266. The insurance estimate is $10,000, and the maintenance estimate is $3,500, resulting in adjusted annual expenses of approximately $16,766. The current net operating income (NOI) is approximately $44,434. Experienced operators capable of managing remediation and lease-up can capitalize on the spread between the basis and stabilized valuation, creating meaningful upside potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
The Tavern On 66
Bar & Pub
Location Insight
- Map
- Local Demand
- City
- East Hampton
- County
- Middlesex
- State
- Connecticut
- Longitude
- -72.4850555
- Latitude
- 41.6050457
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial and residential units on 8.98 acres.
Where is this mixed-use property located?
The property is located at 227 W High St East Hampton, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Significant value‑add opportunity with potential to increase NOI from $44,434 to a projected $117,234 after stabilization.; Priced at $450,000 to reflect environmental conditions and rehabilitation scope, offering a discounted entry point.; High going‑in cap rate of 9.87% based on current income.
