183-187 Franklin St
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183-187 Franklin St
5,048 SF 100% Leased Retail Building Norwich, CT 06360 £182,122 (£36/SF) 20.96% Net Initial Yield
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 |
£38,174
|
£7.56
|
| Taxes |
-
|
-
|
| Operating Expenses |
£9,146
|
£1.81
|
| Total Expenses |
£9,146
|
£1.81
|
| 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 | £38,174 |
| Annual Per SF | £7.56 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | £9,146 |
| Annual Per SF | £1.81 |
| Total Expenses | |
|---|---|
| Annual | £9,146 |
| Annual Per SF | £1.81 |
| 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
£182,122
Price Per SF
£36
Net Initial Yield
20.96%
NOI
£38,174
Percent Leased
100%
Tenancy
Multiple
Number of Floors
3
Slab to Slab
9 ft
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
PROPERTY TAXES
| Parcel Number | NORW-000102-000004-000090 | Improvements Assessment | £64,296 (2024) |
| Land Assessment | £27,147 (2024) | Total Assessment | £91,443 (2024) |
PROPERTY TAXES
Parcel Number
NORW-000102-000004-000090
Land Assessment
£27,147 (2024)
Improvements Assessment
£64,296 (2024)
Total Assessment
£91,443 (2024)
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183-187 Franklin St
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