73 Center St Torrington, CT 06790
- Investment properties
- 5,043 SF
- 0.22 lot acres
Current Use by Public Records
- Investment properties
Property Details for 73 Center St
- Year built
- 1933
- Construction
- FRAME
- Lot size
- 0.22 lot acres
- Property size
- 5,043 SF
- Zone code
- DD
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- TORR M:117 B:021 L:024
- APU
- TORRM117B021L024
Description
This exceptional investment opportunity in Torrington, Connecticut, presents a unique blend of commercial and residential income streams. The property encompasses a thriving, established bar, a beloved local landmark, situated on a 0.22-acre lot at 73 Center Street. The bar itself occupies a substantial 5,043 square feet of space, offering significant potential for continued growth and profitability. In addition to the main bar building, the property includes a second building containing six individual one-bedroom rental units, providing a consistent and reliable source of passive income. This dual-income property offers a rare chance to acquire a well-established business with a proven track record alongside a stable rental portfolio. The asking price for this turnkey operation is $1,000,000. The property's prime location in Torrington ensures high visibility and accessibility, attracting both local patrons and tourists. This is an ideal investment for savvy entrepreneurs seeking a diversified portfolio with immediate cash flow and significant long-term growth potential. The combined income generated from the bar and rental units presents a compelling return on investment, making this a truly exceptional opportunity in the vibrant Torrington market. The property is ready for immediate occupancy and operation, requiring minimal capital expenditure to maintain its current high level of performance. Serious inquiries only.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $310,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $395,000
- 6.5%
- $365,000
- 7%
- $405,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $405,000
- Geo Method
- $355,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $440,000
- Retail
- $360,000
- Mixed-Use
- $350,000
- Hospitality
- $440,000
- Educational
- $430,000
- Residential Income
- $380,000
- Energy
- $440,000
- Income-Based Land
- $395,000
- Food Service
- $440,000
Location Insight
- Map
- Local Demand
- City
- Torrington
- County
- Litchfield
- State
- Connecticut
- Longitude
- -73.1177
- Latitude
- 41.8005
- CBSA code
- 45860
- CBSA name
- TORRINGTON, CT MICROPOLITAN STATISTICAL AREA
