7 Otis St Norwich, CT 06360
This exceptional investment opportunity presents two commercial buildings totaling 7,042 square feet on a 0.41-acre lot, ideally situated just half a mile north of Norwich's vibrant downtown. The property boasts a rich history, dating back to 1850, and features stunning architectural details including numerous antique fireplaces and beautiful hardwood floors throughout. Building one, encompassing 2,099 square feet, includes a first floor with 442 square feet of space, two offices, two bathrooms, and a three-car garage. The second floor offers 1,022 square feet and one and a half bathrooms. Building two, a substantial 7,042 square feet, is a two-story structure with a full basement, each floor offering approximately 2,354 square feet of usable space. This building features one and a half bathrooms, a granite entryway, and is handicap accessible. Both buildings offer attractive features, including an enclosed porch on Building 1 and a front porch on Building 2 with a captivating view of St. Patrick's Cathedral. The property is further enhanced by meticulously maintained landscaping and grounds. The asking price is $539,000, translating to $76.54 per square foot. This unique property is zoned 0.41 and presents a rare chance to acquire a significant piece of Norwich's commercial landscape.
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
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.