863 Norwich-New London Tpke Montville, CT 06382
This 2,400 square foot freestanding building, constructed in 1970, presents a unique investment opportunity. Previously a gas station and convenience store, the property is available for purchase at $699,000 or lease under a triple net (NNN) ten-year agreement with a 3% annual rent increase. Flexible lease terms are available, including lease-to-own options and shorter lease durations. The property enjoys a highly visible location with excellent accessibility, situated near major highways, shopping centers, and restaurants. Daily traffic counts average approximately 7,700 vehicles. While gas and convenience store operations are restricted, the property is zoned for a variety of uses, including bakery, bank, commissary, small-format drug store, medical or professional office, restaurant, quick-service restaurant (QSR), retail store, smoke shop, and deli. Special permits allow for automotive sales and repair, and brewpubs. This versatile property offers significant potential for a wide range of businesses seeking a high-traffic location with ample visibility. The single-tenant building provides a solid foundation for a successful enterprise.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.