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High-Visibility Commercial or Residential Opportunity in Alton! This versatile 1, 320 sq. ft. property offers prime exposure along the Alton traffic circle, where over 9, 000 cars pass daily. With easy access to Routes 11, 11A, and 28, it’s the perfect location for a business, rental investment, or live-work space. Located in Alton’s Residential-Commercial Zone, this property is already approved for over 50 business types, with potential for more upon town approval. The flexible layout makes it easy to convert into a duplex or a business with an apartment, maximizing investment potential. Fully renovated in 2018, the building features new siding, windows and doors, a durable metal roof, and repurposed metal cathedral ceilings for a unique touch. Inside, you’ll find wide-plank wood walls, forced hot air heat, central air, and blown-in insulation for year-round comfort and reduced road noise. A newer 3-bedroom septic system supports residential and mixed-use possibilities. Set on 4. 5 acres with 1. 9 acres of usable land above elevation, this property includes 1, 300+ feet of scenic river frontage—perfect for kayaking or canoeing. With up to 18 parking spaces, there’s plenty of room for customers, tenants, or personal use. Don’t miss out on this rare, high-exposure, flexible opportunity—schedule your showing today!
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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---|---|---|---|
Loan Amount | $500,000 | $500,000 | $500,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 7.125% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.173% | 7.316% | 6.550% |
Monthly Tax Payment | $429 | $429 | $429 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,243 | $3,369 | $4,287 |
Total Monthly Payment | $3,764 | $3,890 | $4,808 |
* 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.