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    50 Palmer Street

    Norwich, CT 06360
    • $5,700,000
    • STATUS: Active
    • ON SITE: 3 Days
    • MLS #: 170442843
    New On Site 3 Days Ago
    UPDATED: 177 min ago
    $5,700,000
    • 0
      BEDS
    • 7.33
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 43,142
      SQFT
    • $132
      $/SQFT
    Type:
    Commercial
    Built:
    1968
    County:
    Area:

    School Ratings & Info

    Description

    Welcome to this amazing opportunity to purchase a 50 Unit complex in the Norwich CT. Nestled on 7.33 Acres not including an additional buildable lot of 3.5 acres totaling 10+ acres of prestigious land. The 3.5 acres are completely subdivided with the opportunity to build between 11-15 condos. This complex is located in between two of the biggest Casinos in the US and a city that is growing rapidly with amusement parks, new construction, business and more. This complex has always been fully occupied and self sufficient. Tenants are paying their own heat, ac, and electricity. Each unit comes with two parking spaces, separate electrical meter and the possibility to convert to gas and also to convert to separate water meters. The entire infrastructure for water and gas was put into place here as well as a brand new water line that was recently redone. Meticulously maintained property with a new roof, upgraded apartments, cameras, repaved driveway and many more. Upon being purchased this complex was remodeled fully as a requirement by the town. Prior use was a home health care facility. This property is the definition of pride of ownership. 33- 1 BR apt, 9 -2 BR apt and 4-3 BR apt. Schedule your private tour today.

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    The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2021 SmartMLS, Inc. Data last updated: 2021-10-17T00:09:43.287.
    www.frankschiavone.com/homes/122326136
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    50 Palmer Street Norwich, CT 06360

    • Price: $5,700,000
    • Status: Active
    • Updated: 177 min ago
    • MLS #: 170442843
    0
    Beds
    0
    Baths
    0
    ½ Baths
    7.33
    Acres
    43,142
    SQFT
    $132
    $/SQFT
    1968
    Built
    County:
    New London
    Area:
    Norwich
    Property Description
    Welcome to this amazing opportunity to purchase a 50 Unit complex in the Norwich CT. Nestled on 7.33 Acres not including an additional buildable lot of 3.5 acres totaling 10+ acres of prestigious land. The 3.5 acres are completely subdivided with the opportunity to build between 11-15 condos. This complex is located in between two of the biggest Casinos in the US and a city that is growing rapidly with amusement parks, new construction, business and more. This complex has always been fully occupied and self sufficient. Tenants are paying their own heat, ac, and electricity. Each unit comes with two parking spaces, separate electrical meter and the possibility to convert to gas and also to convert to separate water meters. The entire infrastructure for water and gas was put into place here as well as a brand new water line that was recently redone. Meticulously maintained property with a new roof, upgraded apartments, cameras, repaved driveway and many more. Upon being purchased this complex was remodeled fully as a requirement by the town. Prior use was a home health care facility. This property is the definition of pride of ownership. 33- 1 BR apt, 9 -2 BR apt and 4-3 BR apt. Schedule your private tour today.
    Exterior Features

    Construction Description FrameBlock Foundation Type Block Lot Description On Cul-De-Sac Parking Total Spaces 0 Road Frontage Description Private Road Roof Information Asphalt Shingle

    Interior Features

    Cooling System Heat PumpSplit SystemWall Unit Heat Type Hot AirWall Unit

    Property Features

    Bank Owned Property Yn No Commercial Category InvestmentResidential IncomeOther Documents Available Other Garage Parking Info Assigned ParkingOn Street ParkingParking Lot Handicap Features 32" Minimum Door Widths60" Turning RadiusAccessible Bath Heat Fuel Type Electric Location Highway AccessDowntownUrbanSuburbanShopping Mall Possession Availability Occupied Potential Short Sale Yn No Potential Use Adult CommCondo2Nd Level Present Use Apartment Complex Property Tax 83417 Sewage System Public Sewer Connected Sewer Usage Fee Annual 23655 Sign Yn No Subdividable Ynu Yes Tenants Number Of 50 Utilities Available ElectricGasTelephoneCable Water Source Public Water Connected Zoning Mf

    Listing information © 2021 Smart MLS
    Listing provided courtesy of Arber Balidemaj of Compass Connecticut, Llc.


    The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2021 SmartMLS, Inc. Data last updated: 2021-10-17T00:09:43.287.
     
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    Frank Schiavone with Douglas Elliman
    75 Arch Street
    Greenwich CT, 06830