165-163-165 Main St, Deep River, CT

Real Estate

For Sale

Listed price in listed location currency (USD).

$825,000

630

MLS® 24178835

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 4184 sqft

Garage No

Taxes $10,593

Days Active 6

Lot Size 0.07 acres

Approx. Age 1850

Avg. Price Per Sqft $197

MLS® Number 24178835

Property Address: 165-163-165 Main St, Deep River, CT, 06417-1759

Average square foot calculated using Size range provided by listing agent.

Description

Rare mixed-use investment opportunity located in the heart of desirable Deep River Village. Positioned directly on Main Street, this 5-unit asset offers a strong blend of residential and commercial income within one of the Connecticut shoreline region's most sought-after rental and retail markets. The property consists of 3 residential apartments and 2 commercial storefronts occupied by long-term local tenants, providing stable in-place cash flow with additional upside through lease-up and rent optimization. Deep River continues to experience strong demand driven by its walkable downtown, restaurant scene, boutique retail presence, and proximity to the Connecticut River and shoreline communities. The residential units offer continued rental growth potential in a market with historically limited housing inventory, while the commercial spaces benefit from Main Street visibility and an established small-business environment. The property presents a compelling opportunity for investors seeking a stabilized mixed-use asset with value-add characteristics in a highly desirable shoreline-adjacent location. Projected stabilized income supports significant upside from current operations through continued lease-up strategy and operational optimization. Additionally, recent zoning updates may allow for the addition of residential unit(s) on the 3rd floor, creating a unique future expansion opportunity., Approximately 1, 200 SF of unfinished 3rd floor space offers potential for additional residential development, subject to zoning and municipal approvals. ARV with an additional $2, 500 in monthly income assigned to 3rd floor unit(s) yields a $1.475M valuation at a 7 CAP, which is appropriate for a 7 CAP market.

MLS® Number24178835

Laundry LevelNone

Central VacNo

FireplaceNo

Acreage0.07

Exterior

GarageNo

Approx. Age1850

BasementFull, Interior Access, Full With Hatchway

Driveway

Garage Spaces0

Heat

A/C

Heating Fuel

Extras

Map

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