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    7 Otis St Norwich, CT 06360

    For Sale
    $539,000

    Two buildings, 7042 sq ft, 0.41 acres

    Property size:
    7,042 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    307
    This exceptional commercial property, located at 7 Otis Street in Norwich, CT, presents a rare opportunity. The 0.41-acre lot hosts two substantial buildings, offering a combined 7,042 square feet of versatile space. Building one, totaling 2,099 square feet, features an enclosed porch and is divided between two floors. The first floor comprises 442 square feet, including two offices, two bathrooms, and a three-car garage. The second floor offers 1,022 square feet with one and a half bathrooms. Building two is significantly larger, boasting 7,042 square feet across two stories and a full basement. Each floor of this building offers approximately 2,354 square feet of usable space. This building includes one and a half bathrooms, a striking granite entryway, and beautiful hardwood floors throughout. Accessibility features are incorporated for handicap access. A charming front porch provides a picturesque view of St. Patrick's Cathedral. The property is further enhanced by numerous antique fireplaces, meticulously maintained hardwood floors, and beautifully landscaped grounds. This property is situated conveniently, just half a mile north of downtown Norwich, offering excellent visibility and accessibility. The asking price is $539,000.

    Property Features for 7 Otis St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    7,042 SF
    Lot Size
    17,860 SF

    Building Details

    Year Built
    1850
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.07701
    Latitude
    41.53067

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    FAQs

    What type of property is this?
    Commercial real estate - Two buildings, 7042 sq ft, 0.41 acres
    Where is this commercial real estate located?
    The property is located at 7 Otis St Norwich, CT.
    What is the asking price?
    The asking price for this property is $539,000.
    (860) 437-0101
    Request Owner's contact information
    7 Otis St Norwich, CT 06360
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    Norwich, CT 06360
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7 Otis St Norwich, CT 06360
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