1.14 Acres Prime Mixed Use Property 7%+ Average Return With 14 Year Mavis Lease

Description:

A prominent 1 acre corner located in the
prestigious Riverside section of Greenwich.
It is surrounded by retail and office
properties along the Route 1 corridor and
adjacent to the highly successful J House
hotel and restaurant.
Mavis Tire is the main commercial tenant
with 14 years remaining including two -5
year options. Additionally there are three
retail stores and two rental houses.
Future potential option would be to
redevelop to a variety of commercial and/or
residential uses.

Existing Buildings: A total of 9,592 SF
consisting of the following: Commercial - A 1 story 6,036 SF building containing 4 storefronts plus a 6 bay garage. Basement under storefronts. Built at various times between 1920 and 1950. Remodeled in 2006.

Residential - Two buildings, both 2 stories over basement. 2,164 SF built 1900 and 1,056 SF built 1936. Plus free standing 2 car garage of 336 SF. All buildings had various enhancements over the years.

LOCATION DESCRIPTION
The Riverside section of Greenwich along East Putnam Avenue (US Route 1) near the I-95 Exit 5 intersection is a high traffic retail area with a variety of stores, shops and restaurants with an average daily traffic count of 25,000 cars plus 130,000 cars on I-95.1116-1130 East Putnam Avenue and 8 Lockwood Lane are situated on the south side of East Putnam Avenue adjacent to the new and successful J House hotel and restaurant. The subject is at the center of the East Putnam Avenue corridor between Riverside Avenue and Sound Beach Avenue which is dotted with great retail businesses interspersed with office and residential buildings.

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