For Sale
$400,000

82 Norwich-Westerly RdNorth Stonington, CT 06359

4,800 SF Office, Sale/Leaseback

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • $400,000 asking price for a 4,800 square foot office building in North Stonington, CT.
  • The property is a Class B, multi-tenant building with a modified lease structure.
  • It features a 50% occupancy rate, with four units across two stories.
  • The building is zoned for economic development and is situated less than one mile from I-95.
  • Recent improvements include a new roof and water filtration system, along with updated interiors.
  • The seller, a medical practice currently occupying the first floor, prefers a sale-leaseback arrangement.

Property Details for 82 Norwich-Westerly Rd

Property type
Office properties, Medical offices
Square Feet
4,800 SF
Class
B
Buildings
1
Stories
2
Units
4

Location Insight

City
North Stonington
County
New London
State
Connecticut
Latitude
41.422985506988
Longitude
-71.859592641217
82 Norwich-Westerly Rd, North Stonington, Connecticut

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82 Norwich-Westerly Rd
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