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$1,200,000
Est. payment /mo
8 Baths
7,429 SqFt
UPDATED:
12/11/2024 06:59 AM
Key Details
Property Type Commercial
Listing Status Under Contract
Purchase Type For Sale
Square Footage 7,429 sqft
Price per Sqft $161
MLS Listing ID 24043703
Full Baths 7
Half Baths 1
Year Built 2022
Annual Tax Amount $25,899
Lot Size 7.760 Acres
Property Description
This exceptional investment opportunity with annual earning potential of $152,000 located in Norwich, CT, includes three adjoining properties totaling 7.76 acres. The portfolio features a completely renovated 4-family property at 526 Canterbury Tpke., where each unit boasts 3 bedrooms, 1 bath, stainless steel appliances, granite countertops, hybrid water heaters, energy-efficient mini splits for heating and cooling, and semi-private decks. The 3-family property at 528 Canterbury Tpke. has undergone extensive updates including siding, roof, and decks. One unit, a 2-bedroom, 1 bath, has been fully renovated with a new kitchen featuring stainless steel appliances, granite countertops, a butcher block coffee bar, a hybrid water heater, energy-efficient mini splits, and a remodeled bathroom. Another 2-bedroom, 1 bath unit has newly installed mini splits and a hybrid water heater, while the third unit, a 3-bedroom, 1.5 bath, is currently being remodeled. Additionally, the land at 514 Canterbury Tpke. may have potential for subdivision into additional building lot/s. Each of the seven units is individually metered for electric which covers heating and cooling and the responsibility of the tenant. The properties are strategically located near major employers such as Electric Boat, the Submarine Base, Pfizer, and local casinos, making them highly attractive to tenants. In addition, there is coin-operated laundry on site, which generates additional revenue.
Location
State CT
County New London
Zoning R40
Interior
Heating Heat Pump, Wall Unit
Cooling Central Air, Ductless, Split System, Wall Unit
Exterior
Exterior Feature Lighting
Parking Features Off Street Parking, Unassigned Parking, Driveway
Utilities Available Electric, Phone Available, Cable
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Story 2
Foundation Concrete, Stone
Sewer Public Sewer Connected
Water Public Water Connected
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Listed by Joyce Perlot • eXp Realty
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