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112-116 Main St., NORWICH Retail, Office and Multi-Family
LYMAN REAL ESTATE BROKERAGE & DEVELOPMENT
www.LymanRE.com
RON LYMAN Main Office: 1160 Boston Post Rd. Westbrook, CT 06498 Mailing Address: 73 Second Ave. Westbrook, CT 06498 860-887-5000 x1 Office 860-884-4666 Cell [email protected]
Historic building in downtown Norwich for sale
Great investment opportunity
8% Cap Rate Built in 1742 6,455 Sqft .12 Acres Zone: CC Retail on 1st floor; Office
space on 2nd floor; Apartments on 3rd floor.
Space on 4th floor for renovation
Traffic Count: 5,010 Located in Opportunity
zone: Please see details on second page
FOR SALE: $389,808 IN OPPORTUNITY ZONE
Subject Subject Property Property
Demographics 1 MILE 3 MILES 5 MILES
Total Population 6,357 34,536 56,230
Total Daytime Population 5,590 37,914 54,376
Total Households 2,543 13,777 21,877
Median Household Income $60,231 $68,341 $76,397
OPPORTUNITY ZONE:
A capital gains tax deferral until the end of 2026 by rolling current capital gains directly over into an Opportunity Fund used to invest in Opportunity Zones
A reduction in that deferred capital gains tax liability—by 10% if the investment in the Opportunity Fund is held for 5 years, and another 5% if held for 7 years
A tax exemption on the capital gains from subsequent investments made through an Opportunity Fund if the investor stays invested in the fund at least 10 years
First Floor Plan
Second Floor Plan
Third Floor Plan
Fourth Floor Plan
All information stated is from sources deemed reliable and is submitted subject to errors, omission, changes of other terms and conditions, prior sales, financing or withdrawal without notice. Buyer/Tenant agents will be eligible for a portion of commission only if they have an existing signed representation.
