364 School St, Putnam, CT, Connecticut, property flyer

364 School St, Putnam, CT, 06260 | $350,000

Turnkey restaurant; real estate, fixtures/equipment & inventory for sale. For 25 years this has been a mixed use commercial & residential property; a successful pizza shop with an apartment upstairs. Start up & take over a turnkey going concern that pays the bills while working from home, or rent both units as an investor, or possibly change use. Plenty of parking & drive under garage door for loading. 400 Amp service. Present business model is mostly take-out, word of mouth with zero expense on advertising, wait staff or delivery staff. Year over year revenue has kept up; 8-10% increase each year over the prior year. Same owner in business 30 years, 25 at this location. Lease with option or closing at a future date also possible, but the deposit would have to be large enough to cover the approx. $100K worth of equipment, since unlike real estate, equipment can "disappear". Less cash down is needed for a lender financed purchase. Located on RT 44 near Walmart, 6/10 mile from I-395 exit

Features

Construction: Frame
Utilities: Public Water, Public Sewer

Zoning: Commercial
Year Built: 1994

MLS#: 73313125
Website: https://www.raveis.com
/prop/73313125/364schoolst_putnam_ct?source=qrflyer

The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
Listing by Dennis J. Duga courtesy of Northeast Realty

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NMLS Mortgage Loan Originator ID 81725

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364 School St, Putnam, CT, 06260

$350,000

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 Conforming*	30 Year Fixed-Rate Conforming	15 Year Fixed-Rate Conforming
Loan Amount	$280,000	$280,000	$280,000
Term	360 months	360 months	180 months
Initial Interest Rate**	7.250%	6.990%	6.250%
Interest Rate based on Index + Margin	8.125%
Annual Percentage Rate	7.582%	7.159%	6.518%
Monthly Tax Payment	N/A	N/A	N/A
H/O Insurance Payment	$75	$75	$75
Initial Principal & Interest Pmt	$1,910	$1,861	$2,401
Total Monthly Payment	$1,985	$1,936	$2,476

* 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.