394 Salem TpkeBozrah, CT 06370

Property Details for 394 Salem Tpke

Year built

2014

Lot size

2.62 AC

Property size (Sq ft)

2,000 SF

Zone code

HC

Property type

Healthcare properties

Property subtype

Medical offices

APN

BOZR M:19 L:065-D

APU

BOZRM19L065D

Description

This exceptional 10-year-old medical building, situated on a 2.62-acre lot at 394 Salem Turnpike in Bozrah, CT, presents a unique investment opportunity. Currently operating as a thriving dental practice, this versatile property offers significant potential for expansion and diversification. The main level features a bright waiting room with a separate entrance, a reception area, four fully equipped exam rooms, and two additional exam spaces pre-wired and plumbed for immediate use. A private office with direct access to a handicap-accessible bathroom is included, along with an additional handicap-accessible bathroom on the main floor. A dedicated medical prep room includes an eye wash station, and the hallway houses medical-grade sterilization equipment and a dishwasher. A separate imaging area is equipped with conebeam/panorex technology. The lower level, accessible via two separate entrances, offers a versatile space currently configured with a kitchen, full bathroom, laundry facilities, and a seating area, ideal for expansion or additional rental income. This area also houses the building's mechanical systems, including a computer and electrical room with Cat 6 wiring. The building boasts updated mechanical and electrical systems, including a three-zone heating and air conditioning system and an on-demand hot water system. The expansive lot offers ample space for building additions or subdivision, and features a garden area and mature fruit trees. Located in a growth area with new businesses emerging, this property represents a compelling investment with strong potential for future returns. The asking price is $1,350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $330,660

  6.5%

  $305,224

  7%

  $283,423

• Comparable approach

  Method

  Valuation

  Relative Method

  $261,320

  Geo Method

  $261,320

• Alternative Use

  Use

  Valuation

  Residential

  $378,478

  Hospitality

  $346,684

  Educational

  $288,437

  Medical

  $298,357

  Retail

  $448,680

Location Insight

City

Bozrah

County

New London

State

Connecticut

Latitude

41.5062

Longitude

-72.1434

CBSA code

35980

CBSA name

NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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