Office Building Investment

219 West Town Street Norwich, CT 06360

219 West Town Street, Norwich, CT, 06360
219 West Town Street, Norwich, CT, 06360
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$595,000
Last Verified:
May 15, 2019

Highlights

  • Investment Opportunity
  • 7165 SF Leased Office Building For Sale
  • Great Location West Town St near I-395 and Business Park
  • Recently Renovated in Excellent Condition
  • 7.9% Cap Rate

Description

Office Building Investment 7165 SF
Fully Leased Opportunity
Potential Owner Occupied use with income
Street front Parking

Located Minutes from I-395 Interchange just prior to Norwich Business Park entrance. Busy retail area with Banks, offices and retail.


Year Built: 1940
Building Size: 7165.0sq ft
Building Class: B
Lot Size: 0.33 acres

Map of 219 West Town Street, Norwich, CT, 06360

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.