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    505-507 New London Tpke Norwich, CT 06360

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    For Lease
    Contact for pricing

    1.42 Acres, GC Zoning, Single Tenant

    Lot size:
    61,855 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.42-acre commercial land parcel presents a unique investment opportunity in Norwich, Connecticut. Located at 505-507 New London Turnpike, this property is zoned GC, offering significant development potential for a variety of commercial uses. The single-tenant designation provides flexibility for future development plans, allowing for tailored construction to meet specific business needs. The expansive lot size provides ample space for building construction, ample parking, and potential landscaping. Its strategic location on New London Turnpike ensures high visibility and accessibility, making it an ideal site for businesses seeking a prominent presence in a thriving community. The property's address is 505-507 New London Turnpike, Norwich, CT 06360. Given its size, zoning, and location, this land parcel represents a rare chance to acquire a highly desirable commercial property in a growing market. The property is ready for immediate development, offering a streamlined path to realizing your commercial vision. Interested parties are encouraged to conduct their own due diligence to confirm suitability for their intended use. This is a blank canvas for your next commercial venture. The latitude and longitude coordinates are 41.514205 and -72.1048294 respectively.

    Property Features for 505-507 New London Tpke

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    61,855 SF

    Unit(s) available at that property

    Space
    Available space
    Size
    61,855 SF

    HighLights

    • Up to 1.42 acres available for lease.
    • All commercial uses permitted.
    • High traffic volume location.
    • Signalized intersection provides excellent visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.1048294
    Latitude
    41.514205

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    FAQs

    What type of property is this?
    Land - 1.42 Acres, GC Zoning, Single Tenant
    Where is this land located?
    The property is located at 505-507 New London Tpke Norwich, CT.
    What are key features of this property?
    This property features: Up to 1.42 acres available for lease.; All commercial uses permitted.; High traffic volume location.
    Request Owner's contact information
    505-507 New London Tpke 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
    505-507 New London Tpke Norwich, CT 06360
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