Property Details

Overview

7.8 PENDING CAP with the potential for a 9 CAP, when fully occupied at current under market rents for this downtown Derby 23, 175 Total SF brick faced commercial building. Currently an Office over Retail use with the potential to convert this building to what it once was, a mixed-use residential over retail building. This 10 unit building has 4 retail main/ground level units including a well known/popular two-level restaurant with a private outdoor patio, 3 retail store fronts and 6 office units on the 2nd floor. 5 office units are currently occupied and 1 suite is available. Professional long term tenants with low rents gives a purchaser the opportunity to grow the rental income. This brick building has efficient gas heat, central air, 4 year old long lasting EPDM rubber roof. Parking in street (one way) and access to a municipal parking garage across the street. Located next door to Derby Town Hall. Sidewalk, walk-ins, just steps to/from Route 34, to Route 8 highway and around the corner from Bridge St to Shelton.when fully occupied for this downtown Derby 23, 175 Total SF brick faced commercial building that is currently Office over Retail with the potential to convert this building to what it once was, a mixed-use residential over retail building. Currently this 10 unit building has 4 retail main/ground level units including a well known/popular two level restaurant with a private outdoor patio, 3 retail store fronts; 6 office units above on the 2nd flr.