227 W High St East Hampton, CT 06424

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.