705 Migeon AveTorrington, CT 06790

Property Details for 705 Migeon Ave

Year built

1960

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.32 AC

Property size (Sq ft)

1,960 SF

Zone code

LB

Property type

Retail properties

Property subtype

Gas stations

APN

TORR M:108 B:009 L:034

APU

TORRM108B009L034

Description

This exceptional 1,960 square foot freestanding commercial building, located at 705 Migeon Avenue in Torrington, Connecticut, presents a unique investment opportunity. Previously utilized as a Cumberland Farms gas station and convenience store, this property is now available for a diverse range of retail uses, free from any deed restrictions. The site encompasses 0.32 acres of land, providing ample space for various business operations. All necessary environmental clearances have been obtained following the complete removal of underground storage tanks, ensuring a smooth transition for any prospective buyer. Benefitting from a highly desirable location, the property enjoys excellent visibility and accessibility due to its proximity to major highways, thriving shopping centers, and popular restaurants. The high daily traffic count of approximately 10,500 vehicles ensures significant exposure for any business operating from this address. The asking price is $699,000, and the seller is willing to explore various financing options to facilitate a seamless purchase. The property is being sold in its current "as-is" condition. This presents a rare chance to acquire a well-situated commercial property with significant potential in a bustling area of Torrington.

• CAP approach

  CAP return

  Valuation

  6%

  $476,348

  6.5%

  $439,706

  7%

  $408,299

• Comparable approach

  Method

  Valuation

  Relative Method

  $645,356

  Geo Method

  $645,356

• Alternative Use

  Use

  Valuation

  Residential

  $370,909

  Hospitality

  $339,750

  Educational

  $282,668

  Medical

  $292,390

  Retail

  $439,706

Location Insight

City

Torrington

County

Litchfield

State

Connecticut

Latitude

41.8143

Longitude

-73.1375

CBSA code

45860

CBSA name

TORRINGTON, CT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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