605-607 Main StNorwich, CT 06360

Property Details for 605-607 Main St

Year built

1970

Lot size

0.44 AC

Property size (Sq ft)

3,040 SF

Property type

Healthcare properties

Property subtype

Other retail properties

Description

This fee-simple offering presents a compelling investment opportunity: a 3,040 square foot urgent care facility in Norwich, Connecticut, boasting a 6.19% cap rate and a strong net operating income (NOI) of $76,800. The property, situated on a 0.44-acre lot at 605-607 W Main St (CT Route 82), is a single-story building constructed in 1970 and renovated in 2013. PhysicianOne Urgent Care, a subsidiary of Yale New Haven Health System, occupies the entire space under a net lease agreement commencing May 1, 2013, and expiring October 31, 2028, with a remaining lease term of approximately 3.9 years and one 5-year renewal option. The lease includes a 15% rent increase at the start of the renewal option. The property benefits from high visibility on a major thoroughfare, proximity to Interstate 395, Mohegan Sun Casino, and numerous national retailers, including Walmart, Big Y, and TJ Maxx. The location enjoys strong demographics, with over 54,200 residents and 24,000 employees within a 5-mile radius, and high traffic counts exceeding 17,100 vehicles daily. The asking price is $1,240,000. This recession-resistant investment offers a stable income stream and significant upside potential due to the tenant's strong performance and the continued growth of the urgent care industry. The landlord is responsible for roof, structure, and HVAC replacement

Location Insight

City

Norwich

County

New London

State

Connecticut

Latitude

41.5164

Longitude

-72.1008

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].