505-507 New London Tpke Norwich, CT 06360
- Showrooms
- 2,542 SF
- 0.39 lot acres
Current Use by Public Records
- Showrooms
Property Details for 505-507 New London Tpke
- Year built
- 1920
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.39 lot acres
- Property size
- 2,542 SF
- Zone code
- GC
- Property type
- Showrooms
- APN
- NORW M:116 B:1 L:80
- APU
- NORWM116B1L80
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $255,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $310,000
- 6.5%
- $360,000
- 7%
- $320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $305,000
- Geo Method
- $365,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $415,000
- Retail
- $420,000
- Mixed-Use
- $325,000
- Hospitality
- $325,000
- Educational
- $395,000
- Residential Income
- $375,000
- Energy
- $410,000
- Income-Based Land
- $400,000
- Food Service
- $365,000
Location Insight
- Map
- Local Demand
- City
- Norwich
- County
- New London
- State
- Connecticut
- Longitude
- -72.1049
- Latitude
- 41.5142
- CBSA code
- 35980
- CBSA name
- NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA