287 Central Avenue, Norwich, CT 06360 (MLS # 24207988)
Mixed-use investment opportunity featuring three residential units and two commercial spaces totaling approximately 4,130 square feet. The residential mix includes two one-bedroom units and one two-bedroom unit. Two residential units and one commercial space are currently occupied, while the second commercial space and one residential unit is vacant, offering immediate lease-up and value-add potential. Our underwriting team projects stabilized annual income of $74,700, effective gross income of $73,365 and NOI of approximately $64,027-representing an estimated 13.48% pro forma cap rate at the $475,000 asking price. Built in 1860, the property includes off-street parking, public water and sewer, electric heat and hot water, city trash pickup and tenant-paid utilities. An attractive opportunity for an investor seeking diversified income, an established tenant base and additional upside. Financial information and projections are available for review.
Property Type(s):
Multi Family
|
Last Updated
|
9/17/2026
|
Year Built
|
1860
|
|
County
|
New London
|
SCHOOLS
| Elementary School |
Per Board of Ed |
| High School |
Norwich Free Academy |
Additional Details
| AIR |
Window Unit(s) |
| AIR CONDITIONING |
Yes |
| BASEMENT |
Full, Yes |
| CONSTRUCTION |
Brick |
| HEAT |
Electric, Hot Water |
| LOT |
3485 sq ft |
| LOT DESCRIPTION |
Corner Lot |
| SEWER |
Public Sewer |
| STYLE |
Units are Side-by-Side, Units on different Floors |
| TAXES |
4340 |
| WATER |
Public |
| ZONING |
NC |
Location
Listing courtesy of VC Property Group, LLC
Copyright Smart MLS. All rights reserved. Information is deemed reliable but not guaranteed to be accurate.
This IDX solution is (c) Diverse Solutions 2026.
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