Under contract

Under Contract - Conti...

526 Canterbury Turnpike

Norwich CT, 06360

$1,200,000


$161.53 per sqft

Under contract

Under Contract - Conti...

8 Baths

7,429 sqft

Commercial

Built in 2022

This exceptional investment opportunity with annual earning potential of $152,000 located in Norwich, CT, includes three adjoining properties totaling 7.76 acres. The portfolio features a completely renovated 4-family property at 526 Canterbury Tpke., where each unit boasts 3 bedrooms, 1 bath, stainless steel appliances, granite countertops, hybrid water heaters, energy-efficient mini splits for heating and cooling, and semi-private decks. The 3-family property at 528 Canterbury Tpke. has undergone extensive updates including siding, roof, and decks. One unit, a 2-bedroom, 1 bath, has been fully renovated with a new kitchen featuring stainless steel appliances, granite countertops, a butcher block coffee bar, a hybrid water heater, energy-efficient mini splits, and a remodeled bathroom. Another 2-bedroom, 1 bath unit has newly installed mini splits and a hybrid water heater, while the third unit, a 3-bedroom, 1.5 bath, is currently being remodeled. Additionally, the land at 514 Canterbury Tpke. may have potential for subdivision into additional building lot/s. Each of the seven units is individually metered for electric which covers heating and cooling and the responsibility of the tenant. The properties are strategically located near major employers such as Electric Boat, the Submarine Base, Pfizer, and local casinos, making them highly attractive to tenants. In addition, there is coin-operated laundry on site, which generates additional revenue.

24043703

MLS ID

September 2, 2024

Listed

November 5, 2024

Updated

Map

526 Canterbury Turnpike
Norwich CT, 06360

Interior Features

Total Stories

2


Total Bathrooms

8


Full Bathrooms

7


Half Bathrooms

1


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Ductless, Wall Unit(s)


Heating

Yes


Heating Description

Electric, Heat Pump

Exterior/Building Features

Lot Size

7.76 Acres


Lot Features

Level


Roof

Asphalt


Sewer

Public Sewer

Other Property Details

Area Name

N/A


Taxes

$25,899


Tax Frequency

Annually


Days on Market

64


Garage

No


Parking

Off Street, Driveway, Unassigned


Parking Total

15


View

No


County

New London


Water Source

Public


Pool

No


Zoning

R40

Listing History

Date

Event

Price

11/5/2024

Under contract

Listed by Joyce Perlot with eXp Realty

Listing Contact: 8604494450 

The IDX display contains information sourced from the  Smart MLS, Inc as of 11/5/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

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Data last updated on 11/5/2024 at 11:16 PM UTC

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