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    690 Boswell Ave Norwich, CT 06360

    For Sale
    $1,100,000

    Turn-key car wash; high traffic area.

    Property size:
    4,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a fully operational, turn-key car wash located at 690 Boswell Ave, Norwich, CT 06360. The property, situated on a 0.47-acre lot, boasts a 4,250 square foot building constructed in 2003 and extensively renovated in 2018. The single-story structure features a permitted GC zoning classification. The car wash offers both touchless and soft-touch options, equipped with new equipment installed during the recent renovation. This owner/user investment opportunity is priced at $1,100,000, translating to $258.82 per square foot. The property enjoys a high-traffic location on Boswell Ave in a busy commercial section of Norwich. Financial details, including income and expenses as reported to the IRS, are available upon execution of a non-disclosure agreement. The business model minimizes labor requirements; customer payments are automatically deposited, and a part-time employee is optionally available for minimal maintenance tasks. The property is available for occupancy on July 1, 2024. This near passive income generating asset represents a compelling investment in a thriving market. The LLC ownership structure provides a streamlined ownership experience. This is a one-unit property within a single building.

    Property Features for 690 Boswell Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,250 SF
    Lot Size
    20,473 SF

    Building Details

    Year Built/Renovated
    2003/2018
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $1,100,000 asking price for this turnkey car wash.
    • 4,250 square foot storefront on a 0.47‑acre lot in Norwich, CT.
    • Recently renovated in 2018 with new equipment.
    • High traffic location on Boswell Ave. in Norwich, CT.
    • Owner/user investment opportunity with potential for passive income; Occupancy date July 1, 2024.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Connecticut Car Wash Car Wash Oasis Auto Wash Car Wash 24 hr Touchless ... Car Detailing Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.0549331
    Latitude
    41.5449717

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    FAQs

    What type of property is this?
    Individual retail property - Turn-key car wash; high traffic area.
    Where is this individual retail property located?
    The property is located at 690 Boswell Ave Norwich, CT.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: $1,100,000 asking price for this turnkey car wash.; 4,250 square foot storefront on a 0.47-acre lot in Norwich, CT.; Recently renovated in 2018 with new equipment.
    Request Owner's contact information
    690 Boswell Ave 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
    690 Boswell Ave Norwich, CT 06360
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