Portfolio Sale

309 & 295 Otrobando Ave Norwich, CT 06360

309 & 295 Otrobando Ave, Norwich, CT, 06360
309 & 295 Otrobando Ave, Norwich, CT, 06360
FOR SALE
Property Type:
Multi Tenant Office
Amount:
$875,000
Last Verified:
Feb 26, 2019

Highlights

  • General Commercial Zone
  • 5.4 acres of development land with all utilities
  • Exit 27 off Routes 2 & 32 at Otrobando Avenue & West Town Street
  • 1 mile from I-395
  • Over 1,000 Feet of Frontage
  • Buildings include 3,000 SF Office, 6,000 SF Glass Greenhouse, 1,500 SF Retail Restaurant Building and 400 SF Gift Shop Building.

Description

309 & 295 Otrobando Avenue

Exit 27 off Routes 2 & 32 at Otrobando Avenue & West Town Street


Year Built: 1895
Building Size: 7900.0sq ft
Building Class: B
Lot Size: 5.4 acres

Map of 309 & 295 Otrobando Ave, 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.