Lyman Real Estate Brokerage & Development Sells Norwich Development Site For $2M
208 Salem Turnpike, Norwich, Connecticut 06360, United States
$2,000,000
$23/SF
Building Size
87,000 SF
Asset Type
Development Site
Closing
Oct 20, 2022
AI
A development site located at 208-210 Salem Tpke in Norwich, CT has been sold for $2,000,000. The property spans 2 acres and has a total square footage of 87,000. The sale price per square foot is $23.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,000,000
- Address: 208-210 Salem Tpke, Norwich, CT
- Market: Norwich, CT
- Asset Type: Development Site
- Acres: 2
The deal was facilitated by Ron Lyman of Lyman Real Estate Brokerage & Development. Ron Lyman represented the buyer or seller in this transaction.
Players
Norwich Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93