"Helping Make Dreams Come True...One Home at a Time."
Listing Agent: Tim J Bray
Courtesy of: Seaport Real Estate Services
Days On Market: 144
Year Build: 1864
Address: 1 Bridge Street
County: New London
Brody's Seafood Market and Deli! Ideal Opportunity to own a well-established, turnkey business with a beloved & consistent customer following in a highly visible location. Brody’s is known for the many choices its customers have, including an onsite restaurant, a retail Fresh Seafood Market, quality ice cream, and a fully stocked convenience store, all laid out on a first floor, 3,678 Square Feet. Upgrades to mechanicals and equipment were completed in 2018. This investment opportunity brings tremendous income growth to its already profitable business model, potentially building out an existing 2nd and 3rd floor for rental income. These floors have the potential for multiple residential units that could be eligible for grants from Norwich Community Development Corporation with the Norwich Revitalization Program totaling $300,000.
If you have been searching for a well-established income-generating business with a customer following, this would be your opportunity.
*Investment Assumptions: 25% Down, 0% Vacancy, 3% reserves for replacement, 0% management fees, No Depreciation Accounted for, $18,000 in yearly rents while market suggests $43,474.
YIELDS: NOI of $76,127 with an additional $39.188 (28.5%) return on investment. No seller financing will be permitted. All buyers must provide proof of funds before viewing the property.
*Information deemed to be reliable but not guaranteed. The buyer must verify income streams in tandem with the seller.
Listing Agent: Tim J Bray Courtesy of: Seaport Real Estate Services The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2022 SmartMLS, Inc. Updated: 29th January, 2023 10:51 PM (UTC)