183-187 Franklin Street | 183-187 Franklin St
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183-187 Franklin Street 183-187 Franklin St
5,048 SF 100% Leased Retail Building Norwich, CT 06360 $249,900 ($50/SF) 19.21% Cap Rate
Investment Highlights
- Includes generous parking facilities, enhancing convenience for customers and employees alike.
- Situated on Franklin Street with excellent exposure and accessibility.
- Offers a flexible layout suitable for a range of uses including retail, office, or service-oriented businesses.
Executive Summary
Exciting Investment Opportunity! Introducing two rental units, each with 2 BD, 1 bath, in a storefront building with an income-generating unit, vacant unit and store front that is ripe for renovation. This prime property offers endless possibilities for savvy investors or business owners looking to customize a space to their needs. Don't miss out on this chance to transform this space into a lucrative venture tailored to your vision and goals.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$48,000
|
$9.51
|
| Taxes |
-
|
-
|
| Operating Expenses |
$11,500
|
$2.28
|
| Total Expenses |
$11,500
|
$2.28
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $9.51 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $11,500 |
| Annual Per SF | $2.28 |
| Total Expenses | |
|---|---|
| Annual | $11,500 |
| Annual Per SF | $2.28 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,048 SF
Building Class
C
Year Built
1895
Price
$249,900
Price Per SF
$50
Cap Rate
19.21%
NOI
$48,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
9’
Building FAR
1.16
Lot Size
0.10 AC
Opportunity Zone
Yes
Zoning
CC
Frontage
54 FT on Franklin
Walk Score ®
Very Walkable (81)
Nearby Major Retailers
1 of 30
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183-187 Franklin Street | 183-187 Franklin St
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