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    327 Laurel Hill Ave Norwich, CT 06360

    For Sale
    $495,000

    Spacious 9,272 sq ft, high-visibility location.

    Property size:
    9,272 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional commercial property, located at 327 Laurel Hill Avenue in Norwich, Connecticut, presents a unique investment opportunity. The substantial 9,272 square foot building boasts a solid masonry and brick construction, offering durability and character. Previously utilized as a school and more recently a restaurant, this versatile space is zoned NC (Neighborhood Commercial), allowing for a wide range of potential uses. Imagine transforming this expansive building into a thriving restaurant with a bar, a comfortable hotel, modern apartments, a mixed-use development, or a collection of offices – the possibilities are extensive. The property includes ample paved parking, with approximately 44 spaces available, ensuring convenient access for patrons and employees. The 0.7-acre lot provides significant space and visibility. Situated within an Enterprise Zone, this property offers attractive tax benefits, further enhancing its investment appeal. The property is being sold "as is," with no additional repairs or upgrades provided by the seller. Prospective buyers are responsible for conducting their own due diligence regarding the property's condition. Please note that this sale is subject to Probate Court Approval. This is a remarkable opportunity to acquire a substantial commercial property in a desirable location with significant potential for redevelopment and strong return on investment.

    Property Features for 327 Laurel Hill Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    9,272 SF
    Lot Size
    30,492 SF

    Building Details

    Year Built
    1900
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.07498
    Latitude
    41.51194

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    FAQs

    What type of property is this?
    Commercial real estate - Spacious 9,272 sq ft, high-visibility location.
    Where is this commercial real estate located?
    The property is located at 327 Laurel Hill Ave Norwich, CT.
    What is the asking price?
    The asking price for this property is $495,000.
    (860) 447-8839
    Request Owner's contact information
    327 Laurel Hill Ave 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
    327 Laurel Hill Ave Norwich, CT 06360
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