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    61-65 Town St Norwich, CT 06360

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    For Sale
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    0.68 Acres, High Visibility, CT

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.68-acre commercial land parcel presents a unique investment opportunity in Norwich, Connecticut. Strategically located at the intersection of New London Turnpike and Town Street, the property boasts exceptional visibility due to its placement at two lighted intersections. The site offers 29,669 square feet of developable land, ideal for a variety of commercial uses. Its advantageous position is further enhanced by its proximity to a Stop & Shop anchored shopping center, ensuring high foot traffic and convenient access for potential businesses. Nearby established retailers include Planet Fitness, Big Lots, Great Clips, Quest Diagnostics, and Dollar Tree, creating a vibrant and thriving commercial environment. The location benefits from a densely populated area, with a significant population base within a 3-mile radius (37,191) and a 5-mile radius (50,699), providing a substantial customer pool for any new development. This property is situated in New London County, Connecticut, with the address being 61-65 Town Street, Norwich, CT 06360. The property's size and location make it an attractive proposition for developers and investors seeking a high-impact commercial venture in a bustling Connecticut community. This is a rare opportunity to acquire a prime commercial land parcel in a high-traffic area with strong demographics.

    Property Features for 61-65 Town St

    General Information

    Property type
    Land
    Lot Size
    29,621 SF

    HighLights

    • 29,669 SF commercial land parcel for sale or lease adjacent to a Stop & Shop‑anchored center.
    • High visibility at two lighted intersections on New London Turnpike and Town Street.
    • Strong retail synergy with nearby Planet Fitness, Big Lots, Great Clips, Quest Diagnostics, and Dollar Tree.
    • Densely populated area with 37,191 residents within a 3‑mile radius and 50,699 within a 5‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Gym & Fitness Daycare 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
    -72.0928229
    Latitude
    41.5476265

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    FAQs

    What type of property is this?
    Land - 0.68 Acres, High Visibility, CT
    Where is this land located?
    The property is located at 61-65 Town St Norwich, CT.
    What are key features of this property?
    This property features: 29,669 SF commercial land parcel for sale or lease adjacent to a Stop & Shop-anchored center.; High visibility at two lighted intersections on New London Turnpike and Town Street.; Strong retail synergy with nearby Planet Fitness, Big Lots, Great Clips, Quest Diagnostics, and Dollar Tree.
    Request Owner's contact information
    61-65 Town 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
    61-65 Town St Norwich, CT 06360
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