USE RESTRICTIONS: **GAS AND CONVENIENCE STORE** Take advantage of this unique opportunity to own or lease a versatile 2, 400 SF freestanding building, formerly a Cumberland Farms gas station and convenience store. Priced at $699, 000 for purchase or available for a ten-year triple net lease with a 3% annual increase, the property offers flexible options including renewal terms, lease-to-own, and consideration for shorter lease durations. Located in a prime area with high visibility and accessibility, the site benefits from proximity to highways, shopping centers, and restaurants, with an impressive daily traffic count of approximately 14, 300 cars. While gas station and convenience store operations are restricted, the property is permitted for a wide range of uses, such as a BAKERY, BANK, COMMISSARY, SMALL-FORMAT DRUG STORE, MEDICAL or PROFESSIONAL OFFICE, RESTAURANT, QSR, RETAIL STORE, SMOKE SHOP, or DELI. Special permit uses include AUTOMOTIVE SALE and REPAIR, and BREWPUB.
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$699,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $559,200 | $559,200 | $559,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.551% | 7.159% | 6.276% |
Monthly Tax Payment | $1,374 | $1,374 | $1,374 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,720 | $3,717 | $4,716 |
Total Monthly Payment | $5,186 | $5,183 | $6,182 |
* 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.