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229 Boswell Ave Norwich, CT 06360

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For Sale
$2,500,000

Multi-family complex near downtown Norwich

Property size:
17,790 SF

Property Features for 229 Boswell Ave

General Information

Property type
Other commercial real estate
Square Feet
17,790 SF
Lot Size
159,865 SF

Building Details

Year Built
2008

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Listing Contact
Constance Howard

Listing Agency: U.S. Properties Real Estate Services, LLC Listing Agent: Constance Howard

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a substantial multi-family property located at 229 Boswell Avenue, Norwich, CT. The property encompasses two buildings, each measuring 8,535 square feet, situated on a generous 3.67-acre lot. Currently, the complex houses ten apartments, each featuring three bedrooms and two and a half bathrooms, offering significant rental income potential. One unit is currently undergoing a complete renovation and will be ready for occupancy on February 1, 2024. The property's strategic location offers convenient access to Backus Hospital, the vibrant downtown Norwich area, and Interstate 395, ensuring high tenant demand. Tenants are responsible for electricity, while sewer and water are covered by the owner. The expansive 3.67-acre lot presents significant potential for future expansion, with the possibility of adding up to 21 additional units, substantially increasing the property's value and rental income stream. The total square footage of the buildings is 17,790 square feet. This property is offered at $2,500,000 and represents a compelling investment opportunity in a thriving Connecticut market. The existing infrastructure and prime location make this an ideal acquisition for investors seeking strong returns and future growth potential.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

Location Insight

  • Map
  • Local Demand
City
Norwich
County
New London
State
Connecticut
Longitude
-72.06367
Latitude
41.53281

FAQs

What type of property is this?
Commercial real estate - Multi-family complex near downtown Norwich
Where is this commercial real estate located?
The property is located at 229 Boswell Ave Norwich, CT.
What is the asking price?
The asking price for this property is $2,500,000.
More about this property
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