124 Town St Norwich, CT 06360-2125
This meticulously maintained 1,561 sq ft commercial building in Norwich, CT, presents a unique investment opportunity. Ideally situated just off Interstate 395, this property boasts excellent visibility and accessibility. The first floor offers versatile office space, currently configured as an insurance company office. The second floor provides the option of either additional private office space or a one-bedroom apartment, complete with separate utilities. This allows for live-work flexibility, or the potential for additional income streams. Imagine running your business downstairs and living comfortably upstairs, or utilizing the upper level for private meetings and conferences. The property includes ample parking with ten designated spots, one handicapped-accessible space, and a two-stall detached garage offering four parking spaces in total. Significant updates have been made throughout the building over the past fifteen years, ensuring modern functionality and efficiency. The current tenant lease expires at the end of November, presenting a flexible timeline for occupancy. The 0.28-acre lot provides ample space for operations and potential future expansion. This property is a rare find, combining prime location, versatile space, and recent upgrades, making it an exceptional investment opportunity.
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HUB International Insurance Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
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
NC/GC · Norwich, CTNorwich. Always verify with local authorities before improvements.
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.