Last Sold Price
8,082 sqft$45/sqft
534 Storrs RdMansfield, CT06250

Description

Unique 12% CAP Rate Investment Opportunity in booming college town 5 minutes from UCONN. Mixed use property includes 2 retail units (2280 sf & 1500sf) & 2 residential apartments (1200 sf each). Easily $63,600 in annual rental income in current condition with great potential to increase income with some property TLC. Solid structure with new roof & exterior paint job in 2022, new front porch in 2018, and new septic in 2012. Apartments need cosmetic upgrades to maximize rental income from students....Unique 12% CAP Rate Investment Opportunity in booming college town 5 minutes from UCONN. Mixed use property includes 2 retail units (2280 sf & 1500sf) & 2 residential apartments (1200 sf each). Easily $63,600 in annual rental income in current condition with great potential to increase income with some property TLC. Solid structure with new roof & exterior paint job in 2022, new front porch in 2018, and new septic in 2012. Apartments need cosmetic upgrades to maximize rental income from students. 18 parking spaces make the Historic Mansfield Center General Store retail space great for a coffee shop, general store, or specialty shop. Rare opportunity for significant financial return in an incredible location with a property beloved by the Mansfield Community.
LISTING CLOSED: 10/03/2023 12:00 AM

  1. Listed by Tom Pentalow • Property Shoppe, LLC
    P: (860)-883-9001 C: (860)-883-9001 thomas.pentalow@gmail.com

Property Details for 534 Storrs Road

Status
MLS #
170585782
Days on Market
8
Taxes
$4,917 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Non-Residential
MLS Type
-
Year Built
1880
Lot Size
0.60 AC / 26,136 SF
Location
Other
Neighborhood
Mansfield Center
Garage Parking Info
Unassigned

Location

Listing Courtesy of Property Shoppe, LLC, Tom Pentalow

Sold By Property Shoppe, LLC, Tom Pentalow

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Building Information for 534 Storrs Road

Stories2Residences2Year Built1880Lot Size0.60 AC / 26,136 SF

Payment Calculator

$2,247 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,837

Property Taxes

$410

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 534 Storrs Road

Summary
Property and Location
  • Directions: Take CT-633, turn left onto CT-195/Storrs Rd. Corner of Route 195 & 89. 5 minutes from UCONN.
  • Latitude: 41.764663
  • Longitude: -72.197481
  • State: Connecticut
Parking
  • Parking Spaces Covered: 0
  • Parking Spaces Uncovered: 18
  • Parking Total Spaces: 18
HOA and Fees
  • Property Tax: $4,917
Virtual Tour
  • Virtual Tour: No
Interior and Exterior Features
Exterior Features
  • Number of Docks: 0
  • Number of Overhead Doors: 0
Interior Features
  • Cooling System: None
  • Heat Type: Hot Air
  • Ceiling Height: 8.0
  • Flooring: Wood
Property
Property and Assessments
  • ADA Compliant: No
  • Additional Space Available: No
  • Construction Description: Frame
  • Foundation Type: Stone
  • Present Use: Retail and residential apts
  • Road Frontage Description: State Road
  • Roof: Asphalt Shingle
  • Sq Ft Source: Public Records
  • SubdividableU: No
  • Year Built: 1880
  • Bank Owned Property: No
  • Sq Ft Residential: 3000
  • Sq Ft Retail: 5082
Lot Information
  • Documents Available: Other
  • Lot Description: Corner Lot
  • Parcel Number: 1631520
  • Sq Ft Total: 8082.0
  • Zoning: NB2
Utilities
  • Heat Fuel Type: Electric, Oil
  • Sewage System: Shared Septic
  • Utilities Available: Electric, Gas, Cable
  • Water Source: Other
Multi Family
Income and Expenses
  • Gross Annual Expense: 12980
  • Gross Annual Income: 63600
  • Net Operating Income: $50,620
  • Occupied By: Tenant
  • Total Number of Units: 2
Building Details
  • Unit Count: 4
  • Number of Restrooms: 3
  • Number of Stories: 2
Unit 1
  • Unit Appliances: None
  • Unit Average Sq Ft: 2280
  • Unit Entry Order: 1
  • Unit Full Baths: 1
  • Unit Half Baths: 0
  • Unit Modified Date: 07-19-2023
  • Unit Monthly Rent: $2,100
  • Unit Number Of: 2
  • Unit Num Vacant: 1
  • Unit Type: Retail
Unit 2
  • Unit Appliances: None
  • Unit Average Sq Ft: 1500
  • Unit Entry Order: 2
  • Unit Full Baths: 1
  • Unit Half Baths: 0
  • Unit Modified Date: 07-19-2023
  • Unit Number Of: 1
  • Unit Num Vacant: 1
  • Unit Type: Retail
Unit 3
  • Unit Appliances: None
  • Unit Average Sq Ft: 1200
  • Unit Entry Order: 3
  • Unit Full Baths: 1
  • Unit Half Baths: 0
  • Unit Modified Date: 07-19-2023
  • Unit Monthly Rent: $1,600
  • Unit Number Of: 2
  • Unit Type: 2 Bedrooms
Unit 4
  • Unit Appliances: None
  • Unit Average Sq Ft: 1200
  • Unit Entry Order: 4
  • Unit Full Baths: 1
  • Unit Half Baths: 0
  • Unit Modified Date: 07-19-2023
  • Unit Monthly Rent: $1,600
  • Unit Number Of: 2
  • Unit Type: 2 Bedrooms

Property History for 534 Storrs Road

DateEvent & SourcePriceAppreciation
Oct 3, 2023

Closed (Public Record)

Public Record #1519860724

$379,000

+3.6% / yr

Jan 6, 2000

Closed (Public Record)

Public Record #92766868

$165,000
DateEvent & SourcePrice
10/03/2023

Closed (Public Record)

Public Record #1519860724

$379,000

+3.6% / yr

01/06/2000

Closed (Public Record)

Public Record #92766868

$165,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 534 Storrs Road

Taxable ValueLand$86,500Additions$184,100Total$270,600
Tax Record2025$5,412 ($451 / month)
Home Facts
Total Finished SqFt3,000 SqFtAbove Grade Finished SqFt3,000 SqFtUnfinished Basement SqFt2,280 SqFtStories2Lot Size26,136 SqFtStyleMiscellaneous CommercialYear Built1880Year Renovated1880ZoningNB2CountyCAPITOLAPNMSFL M:29 B:114 L:63

Schools near 534 Storrs Road

This home is within Regional School District 19.
Rating
School
Type
Grades
Distance
Public - PK to 1
Public - PK to 4
Public - 5 to 8
Public - 9 to 12
Rating
School
Distance
Annie E. Vinton School
PublicPK to 1

Southeast Elementary School
PublicPK to 4

Mansfield Middle School School
Public5 to 8

E. O. Smith High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Property Shoppe, LLC, Tom Pentalow

Based on information from one of the following Multiple Listing Services: Darien MLS, Smart MLS and Greenwich Multiple Listing Service. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Darien MLS, Smart MLS and Greenwich Multiple Listing Service is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.