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    689 Thames St Norwich, CT 06360

    Sponsored
    For Sale
    $599,000

    0.89-Acre Lot, Build-to-Suit Option

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 0.89-acre commercial land parcel presents a unique investment opportunity in Norwich, Connecticut. Located on the highly trafficked Route 32, this nearly one-acre site boasts a desirable square, flat topography, ideal for immediate development. The property's history as a Sunoco gas station offers a proven track record of commercial viability, and importantly, the zoning permits the construction of another gas station. This presents a compelling opportunity for investors seeking a high-visibility location with established infrastructure. The asking price is $599,000. The seller is offering a build-to-suit option, providing flexibility for potential buyers to tailor the development to their specific needs and vision. This prime location in Norwich, CT, zip code 06360, offers excellent access to major roadways and a strong local economy. The address is 689 West Thames Street, with GPS coordinates 41.4991406 latitude and -72.0973829 longitude. This is a rare chance to acquire a ready-to-develop commercial lot in a thriving Connecticut community. Don't miss this chance to secure a valuable asset in a high-demand area. Contact us today to learn more about this exciting opportunity.

    Property Features for 689 Thames St

    General Information

    Property type
    Land
    Lot Size
    38,768 SF
    Property Profile 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 Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.0973829
    Latitude
    41.4991406

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    FAQs

    What type of property is this?
    Land - 0.89-Acre Lot, Build-to-Suit Option
    Where is this land located?
    The property is located at 689 Thames St Norwich, CT.
    What is the asking price?
    The asking price for this property is $599,000.
    (860) 887-5000
    Request Owner's contact information
    689 Thames St Norwich, CT 06360
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    689 Thames St
    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
    689 Thames St Norwich, CT 06360
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