Lakeside Property - Ideal for Student Housing or Motel

Retail-Commercial for Sale
Catylist Listing ID: 30286602
Property Subtypes: Free-Standing Building, Mixed Use, Parking Facility, Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 11,688 SF
Gross Land Area: 1.53 - 3.21 Acres
Sale Price: $1,550,000
Unit Price: $132.61 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 11,688 SF
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 9/17/2020

Overview / Comments

11,688 SF building is located on Wangumbaug Lake. Ideal for student housing or motel. It has city water and sewer. Additional 1.68 acres available across the street. Sits on 1.53 Acres. Expandable to 3 stories or 35,000 SF. Just off of Main St. Heating: Oil. Village Gateway Zone. Abuts popular Coventry Lakeview Restaurant. Traffic Count: 3,900. Also for lease: $10/SF + $19,000/Yr expenses.

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Additional Details

Nearest MSA: Hartford-West Hartford-East Hartford
County: Tolland
Tax ID/APN: 00L-0035-0003
Zoning: VG - VILLAGE GATEWAY
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Main St and Wangumbaug Lake
Property Visibility: Good
Largest Nearby Street: Main St.
Traffic/Vehicle Count: 3,900
Site Description: Building abutting a restaurant called Coventry Lakeview Restaurant. Views of and frontage on Wamgumbaug Lake.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Average
Parking Type: Surface
Heat Type: Oil
Heat Source: Baseboard
Water Service: Well
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,657 23,917 52,725
Median Age: 41.23 28.39 32.46
Households: 1,075 4,426 14,449

Contact

Photograph of Listing Agent

Ronald E. Lyman

Lyman Real Estate CTCList Member
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