Current Use by Public Records
- Office Spaces
Property Details for 82 Norwich-Westerly Rd
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
This exceptional 4,800 square foot office building in North Stonington, Connecticut, presents a unique investment opportunity. Located at 82 Norwich-Westerly Rd, 06359, this two-story Class B building offers a blend of medical and traditional office space. Currently 50% occupied, the first floor houses an established medical practice that prefers a leaseback arrangement, with terms negotiable. The vacant second floor, in excellent condition, provides flexibility for expansion or subdivision into two separate units. Ground-level access is available to both floors due to the hillside location. The property boasts ample parking and is conveniently situated less than a mile from I-95, ensuring easy accessibility. Recent upgrades include a new roof and a new water filtration system, along with updated interior finishes. The building sits within an Economic Development District, offering potential zoning advantages. This sale/leaseback opportunity is ideal for an owner-occupant seeking a profitable investment with immediate income generation. The asking price is $400,000, translating to $83.33 per square foot. The property consists of one building with four units, offering a multi-tenant potential. The lease type is modified.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Stonington
- County
- New London
- State
- Connecticut
- Longitude
- -71.8596
- Latitude
- 41.423
