$985,000
The walkability and quintessential New England charm of downtown Deep River is a big draw for buyers seeking a trophy property. This mixed-use gem has much to offer including two well established commercial tenants along with three residential units on the second floor.
Virtual Tour
Anchor Tenants
Anchor & Compass
Hally Jo's Restaurant
163 on Main
The Penthouse on Main
Approved Residential Conversion
Approved Residential Conversion
Approved Residential Conversion
$1,700,000 ARV
Approved Residential Conversion
Approved Residential Conversion
Value Add Path
Understanding the Value
The town has just recently revised zoning regulations to allow for the addition of residential units to existing space within mixed-use properties. This is exciting, as it creates a huge Add Value opportunity for the buyer.
Bridge Acquisition
This is the Bridge to Refinance scenario that every investor dreams of - an opportunity to ultimately be into a multi-million dollar asset for $0 invested. The bridge loan will require a significantly lower down payment and provide ALL funds necessary to complete the build-out of Deep River's HOTTEST new Penthouse Suite.
$200k Penthouse Addition
We estimate the build-out to cost approximately $200k, which allocates $75k to outfit the entire building with a brand new sprinkler system. This will most likely be a hard requirement by the Town.
Post Rehab Refinance
This is not a heavy rehab by any means, and can be completed inside of 12 months. Upon completion, the Penthouse Suite will generate a minimum of $3,750 in monthly income, which will drive an estimated appraisal north of $1.7 Million. This valuation will see an investor recoup 100% of their initial cash investment. VC Property Group can broker both the bridge and refinance loan to ensure a successful execution of the project. Apply below
