Mixed Use on Central

287 Central Avenue, Norwich, CT

Mixed Use • $115 psf

Est. $3,543 /mo

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List Price $475,000
NOI
$68,346
DSCR
2.18
Cap
14%
ROI
31%

Est. Monthly

$3,543 /mo

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Schedule a showing

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Listing Details
$475,000
Mixed Use
Mixed Use on Central

287 Central Avenue, Norwich, CT

$115 psf

$475,000

Listed By
Christian Martinez

VC Property Group

RES.0834170

Est. Monthly

$3,543 /mo

Get Financing

Interested in this property?

Schedule a showing

Request

Upcoming Open House

RSVP
Property Snapshot
77% Proforma
Property Type
Mixed Use
Building(s)
1
Sqft
4130 sqft
Parcel(s)
1
Lot Size
0.08 acres
Year Built
1860
Property Description

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. Financial information and projections are avail for review.

Property Features
Utilities & Systems
Heating
Electic
Hot Water
Electic
Water
Public
Sewer
Public
Trash
City Pick-up
Utility Split
Tenant Paid
Disclaimers
Buyer Due Diligence

Listing last updated on October 20, 2026. Buyers should independently verify all property and financial information. Financial metrics are calculated using industry best practices but rely on listing broker inputs and assumptions. Actual results may vary.

Income
Current vs Proforma
1 Bed, 1 Bath
$1,000
2 Bed, 1 Bath
$1,400
2 Bed, 1 Bath
$1,400
Retail
$625
$700
Commercial
$1,700
$1,700
Storage
$100
$133
Storage
$100
$133
Monthly
$6,325
$8,267
Annual
$75,900
$99,200
Operating Expenses
Annualized
Property Taxes
$5,143
Insurance
$6,000
Water / Sewer
$3,000
Vacancy - Commercial
$2,790
$2,880
Vacancy - Residential
$2,280
$3,360
Maintenance
$3,542
$4,648
Management
$3,542
$4,648
Others
$0
Resi Reserves ($/unit)
$750
Comm Reserves ($/sqft)
$425
Total Expenses
$27,472
$30,854
Leasing Information
Unit
Lease Status
1 bedroom
Leased
2 bedrooms
Leased
2 bedrooms
Leased
Store
Leased
Restaurant/ Commercial Space
Vacant - Not Rent Ready
Loan Terms
Scenario Builder
Sale Price
$475,000
Loan Term
30 years
Rate
8%
LTV
75%
P&I
$2,614
$2,614
Annualized
$31,368
$31,368
Net Cash Flow
$17,060
$36,978
DSCR at Entry
2.18
Request loan quote from VC Property Group.

Christian Martinez

VC Property Group

RES.0834170

CM
Christian Martinez
VC Property Group

Christian Martinez


VC Property Group

RES.0834170