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21 Terminal Way Norwich, CT 06360

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For Sale
$6,900,000

Four-story self-storage facility with 348 units in Norwich, CT.

Property size:
51,200 SF

Property Features for 21 Terminal Way

General Information

Size
51,200 SF

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Listing Contact
Hans Hardisty
Source: Nationalstoragepartners

Listing Agent: Hans Hardisty

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

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Overview

Stabilized Self-Storage Conversion Opportunity

This stabilized four-story self-storage conversion features 348 interior units, with sizes ranging from 5x3 to 20x30. The facility has been performing at 112% economic occupancy. Located in Norwich, CT, the property benefits from a market with 6.2 square feet per capita within a 5-mile radius. The property has a strong outlook for continued rental increases and maximizing occupancy. Norwich offers convenient access to major transportation routes, including Interstate 395. Nearby attractions include Mohegan Park, Slater Memorial Museum, and the Leffingwell House Museum. The area's budding business scene and robust industrial sector make it an ideal location for an industrial or self-storage venture. The property consists of 51,700 gross square feet and 35,700 net rentable square feet and is 90% occupied.
Location Intelligence

Current Use by Public Records

U-Haul Neighborhood Dealer Trailer Rental Service Radiant Storage Self-Storage Facility

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
-72.082819
Latitude
41.509794

FAQs

What type of property is this?
Self storage facility - Four-story self-storage facility with 348 units in Norwich, CT.
Where is this self storage facility located?
The property is located at 21 Terminal Way Norwich, CT.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: - High Economic Occupancy: Currently performing at 112%.; - Undersupplied Market: Located in Norwich with only 6.2 SF of storage per capita in a 5-mile radius.; - Strong Potential for Rental Increases: Outlook for continued rental increases and maximizing occupancy.
More about this property
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