276 Main St Norwich, CT 06360

This exceptional Norwich, CT retail center, Oak Tree Plaza, presents a compelling investment opportunity. Boasting 22,450 square feet across two single-story buildings on a 2.54-acre lot, the property features a diverse tenant mix anchored by Advanced Auto Parts and Dairy Queen. Currently operating at 94.6% occupancy, the property generates a strong NOI of $302,149, representing an 8.63% cap rate. A pro-forma analysis projects a 9.35% cap rate and a NOI of $327,314. Built in 1985 and renovated in 2022, the property benefits from a modified lease structure with rent bumps, offering potential for increased revenue. The property includes 11 units, with approximately 1,200 square feet currently vacant, presenting an opportunity for owner-occupancy or additional leasing. Strategically located on busy Route 82/West Main Street at a traffic light, the center enjoys high visibility and benefits from proximity to numerous large box retailers. The property is zoned GC and offers a drive-thru for added convenience. This fee-simple ownership presents a rare chance to acquire a stabilized, value-add investment in a prime Connecticut location. The recent signing of a new 10-year lease on 3,000 square feet further solidifies the property's strong performance and future potential.