The Thayer Building Apartments 16 Franklin St Immeuble residentiel 29 lots 2 582 814 € (89 063 €/Lot) Norwich, CT 06360

Chozick Realty, Inc. is pleased to present Thayer Building Apartments. Built in 2006 through conversion of an existing office building, there are 29 residential units and three Ground Floor Commercial spaces located in the center of the Downtown District of Norwich, CT. The Thayer Building was constructed in 1915 and had a storied history as an office building anchoring the downtown before its residential conversion.
Being substantially gut renovated in its conversion from Office to Apartments, each apartment has its own gas fired HVAC unit supplying heat and Central AC, its own gas fired hot water heater and separately metered electricity. At the time of renovation the elevator was replaced along with virtually all other building components.
The unit mix is attractive with 3 Studios; 6 one bed/one bath; 12 two bed/two bath and 8 three bed/two bath apartments over 5,600 square feet of ground floor commercial space. The commercial spaces are; S&A Market 2,700 SF; a vacant former Law Office Space 1,700 SF fully built out and ready for occupancy and 1200 SF of raw space.
There is on site parking for 16 cars in addition to abundant municipal parking ranging from a surface lot at $40 per month, less than a one minute walk and a Municipal garage for $50 per month just a three minute walk from the property.
The property historically has been at or close to 100% occupancy and currently only has one residential vacancy. The going in return is very strong with additional upside through closing loss to lease.
This offering is Lender Owned and is being offered with limited available information, on an As Is, Where Is basis with only Non Contingent offers entertained. All interested and qualified investors will have an opportunity to tour the property and make their own assessment.