This exceptional 17,922 square foot medical office building, situated on a 1.83-acre lot in Norwich, Connecticut, presents a compelling investment opportunity. The single-story, 1972-built Class C building comprises five suites, currently housing a mix of established medical tenants including Hartford HealthCare Medical Group (9,452 SF), Norwich Internal Medicine Group (3,800 SF), Select Physical Therapy (2,786 SF), and a Psychology Specialist (742 SF). One 1,142 square foot suite is currently available for lease. The property boasts a strong financial profile, with a current NOI of $314,411, a 9.00% cap rate, and a pro-forma cap rate of 9.68%. The asking price is $3,495,000, translating to $195 per square foot. Significant capital improvements have been made, including exterior landscaping, parking lot upgrades, mechanical system enhancements, and a new roof. All tenant suites have undergone recent renovations. The building enjoys a prime location at the I-395 and Route 2 interchange in Norwich, a city known for its rich history and recreational opportunities along the Thames River. The high-traffic area sees an average daily traffic count of 9,800 vehicles on West Town Street, according to the Connecticut Department of Transportation. This property offers a blend of stable income and significant upside potential. The gross lease structure simplifies management.
Highlights
Historic Norwich, CT location in New London County.
Thames River frontage offering recreational opportunities.
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Contacts
Taylor Perun
Cameron Formica
Connor Dunn
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11 Case St, Norwich, Connecticut, 06360
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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11 Case St
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