$1,650,000

Under Contract

Est. Mortgage $8,343/mo *

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1988

8,831 sqft

Class A Building with Absolute NNN leases! GORGEOUS NNN INVESTMENT PROPERTY FOR SALE IN DOWNTOWN MYSTIC. "The Anchor Building" has been extensively renovated inside and out in 2024 and is 100% leased, yet still has enormous value add potential (undeveloped land, top floor can be converted into a 1,350 sqft tenth unit, and rooftop cell tower opportunities all boost income substantially). Enjoy cashflow stability from Mystic's thriving Downtown economy and minimal landlord responsibilities with NNN leases. Utilities are metered separately and paid by tenants. Less than a one minute walk to the Mystic Train Station and a five minute walk to the famous Mystic Bascule Bridge! Investment grade real estate in Mystic (named the 4th best travel destination in the U.S.) doesn't come on the market often and doesn't stay for long, so don't miss out on this opportunity to own a piece of Mystic's Historic and Ever Popular Downtown Community! Energy efficient building with high end solar panels, flood proof design with a raised foundation, a hurricane proof awning, and a 24k gold leaf anchor sign! Cell tower value add opportunity and 4th floor buildout value add opportunity along with the value add opportunity of developing the land next door that belongs to this property presents various various means to huge upside for any investor not to mention Mystic's huge market growth potential to be the next Newport, Rhode Island. Building was fully renovated in 2024.

Status:

Under Contract

Type:

Commercial

Units:

9

Zoning:

Office Bldg

Frontage:

Municipal Street

Heating:

Heat Pump

Cooling:

Ductless, Window Unit

Est. Taxes:

$10,202

Assessment

$531,000

Current Use

Office

Utilities

Electric,Gas,Cable

Lot Description:

Cleared

Days on Market:

426

MLS #:

24003536

Community Info

School Info

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Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Zach Pranger, Group Realty LLC Email: zachary@eastcoastgrouprealty.com