49-53 West Main Street, Groton (Mystic), CT, Connecticut, property flyer

49-53 West Main Street, Groton (Mystic), CT, 06355 | $3,495,000

Iconic Location - Two buildings zoned MDD in the heart of Historic Downtown Mystic with three private parking spaces. Just a stone's throw from Mystic Pizza and Sift Bakery. 49 West Main Street is a two-story Brick Facade Retail Building. 53 West Main Street is a two-story approximately 4, 500 square foot building offering spacious retail space with many large retail display windows. Also included is an approximately 1, 250 square foot two-bedroom apartment on the second floor that is currently used as a short-term rental on Airbnb. This iconic building has been home to Bank Square Books since 1988 and offers a unique blend of commercial and residential charm. Located at a prime corner position at the head of Main Street in Historic Downtown Mystic, this property boasts unparalleled visibility and foot traffic. Imagine your business thriving in this vibrant downtown setting, surrounded by unique resort shops, fine restaurants, deep water marinas, the Mystic River Bascule Bridge, and the Mystic Seaport Museum nearby. The possibilities are endless as you shape the next chapter of this storied location. Above the bustling bookstore, discover a hidden gem - a spacious apartment with endless potential. Currently used as an Aribnb, this residence and property presents an incredible income opportunity or a tranquil retreat for those seeking the ultimate live/work balance. Embrace the allure of Mystic living while reaping the rewards of an established business location! Don't miss your chance to make History in Mystic - by appointment only.

Features

Town: Groton
Current Use: Retail
Utilities: Electric,Telephone,Cable
Heating: Hot Air,Other
Cooling: Central Air
Units: 1

Zoning: MDD
Frontage: Municipal Street,Paved Road
Year Built: 1947
Approx Sq. Feet: 9,000
Acreage: 0.17
Est. Taxes: $22,699

Lot Desc: Corner Lot,Level Lot
MLS#: 24018619
Days on Market: 98 days
Website: https://www.raveis.com
/prop/24018619/4953westmainstreet_groton_ct?source=qrflyer

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Listing courtesy of William Pitt Sotheby's Int'l

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888.699.8876

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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 81725

203.980.8025

Frank.Kolb@raveis.com

Our Executive Mortgage Banker:

Is available to meet with you in our office, your home or office, evenings or weekends
Offers you pre-approval in minutes!
Provides a guaranteed closing date that meets your needs
Has access to hundreds of loan programs, all at competitive rates
Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction

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Our Insurance Division:

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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable

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203.925.4590

For homebuyers and sellers, our Attorney Network:

Consult on purchase/sale and financing issues, reviews and prepares the sale agreement, fulfills lender
requirements, sets up escrows and title insurance, coordinates closing documents
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49-53 West Main Street, Groton (Mystic), CT, 06355

$3,495,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Frank Kolb

Senior Vice President - Coaching & Strategic

William Raveis Mortgage, LLC

Phone: 203.980.8025

Frank.Kolb@raveis.com

NMLS Mortgage Loan Originator ID 81725

	5/6 (30 Yr) Adjustable Rate Jumbo*	30 Year Fixed-Rate Jumbo	15 Year Fixed-Rate Jumbo
Loan Amount	$2,796,000	$2,796,000	$2,796,000
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	7.055%	6.234%	5.805%
Monthly Tax Payment	$1,892	$1,892	$1,892
H/O Insurance Payment	$125	$125	$125
Initial Principal & Interest Pmt	$15,657	$16,989	$23,032
Total Monthly Payment	$17,674	$19,006	$25,049

* 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.