373-375 EAST MAIN ST, Branford, CT
Multi-Use for Sale - $3,500,000 - 4.28 acres
Property Info
| CIMLS# | 1062414 |
| Location 373-375 EAST MAIN ST Branford CT 06405 | |
| Updated | November 18th, 2019 |
| Type | Multi-Use |
| Price | $3,500,000 |
| Land | 4.28 acres |
Property Description
Opportunity to acquire a parcel totaling 4.28 Acres that can be developed/re-developed into mixed-use or the following single uses:
- Retail, Banks, Restaurants, General automotive sales and service uses
- Hospitality (hotels/motels)
Zoning is "local business zoning" and very accommodative of numerous development possibilities. There may also be potential to add Multi-Family, Medical / Office, or self-storage.
ALL UTILITIES included.
IN-PLACE NOI stream attributable to billboard on Parcel A that has exposure to Interstate 95. Current NOI is $28,000 per annum, in September of 2019 there's a 14.3% rental increase, raising the NOI to $32,000, and another rent increase in September of 2020 increasing billboard NOI to $40,000.
NOTE: THIS OFFERING IS FOR PARCELS A ONLY, AND DOES NOT INCLUDE PARCELS B, C OR D.