Potential for conversion as mixed-use, residential, or a versatile 2-unit multi-family setup for this in-town location in Madison. Currently used as office. This unique property is set in an active commercial district and half mile from I-95. This is a rare chance to own a property that offers substantial appreciation due to its location and the exclusivity of the neighborhood for investors and owner occupants. Conveniently located across from the Shoreline East Train Station and Ring's End. Great opportunity to own a prime property in the heart of Madison, CT. This charming coastal town is experiencing significant economic growth, making it an ideal investment opportunity. Set on 0. 23 acres in a thriving business district, this well-maintained 2, 852 SF property offers potential as professional office space or for conversion to mixed-use or residential units. Conveniently situated across from the Shoreline East Train Station and Ring's End, with easy access to I-95 and US1, located in Zone D Downtown District designation. With 10 parking spaces and city gas and water, the property is versatile and ready for your vision. Don't miss out on this rare chance to own a property with strong appreciation potential in a sought-after location. PROPERTY HIGHLIGHTS Thriving Business district Across from Commuter Railroad Well Maintained Property 2, 852 SF, Zone D Downtown District Convenient to I-95 & US1 PROPERTY SUMMARY Year built: 1990 Lot Size: 0. 23 Acre 2 Story Building, 2, 852 SF City Gas, Water
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $688,000 | $688,000 | $688,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | $732 | $732 | $732 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,853 | $4,180 | $5,667 |
Total Monthly Payment | $4,677 | $5,004 | $6,491 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.