PREMIER DOWNTOWN LOCATION | OPPORTUNITY ZONE

101 Water Street is a premier 34,440-square-foot, three-story office building located in the bustling city center district of Downtown Norwich, Connecticut. The highly visible, masonry-constructed property conveniently includes an on-site covered lot and surface parking options accommodating 85 cars, with an elevator servicing all floors. Built in 1986, the property's first floor was a former bank equipped with a vault and serves as a blank slate unfinished space ready for the next business’ desirable build-out. The second and third floors are finished office spaces with floor-to-ceiling windows offering picturesque views of the scenic Thames River. Each floor also includes ADA-compliant bathrooms, ensuring accessibility and convenience for all future tenants and guests. 101 Water Street is exceptionally positioned less than a 3-mile drive from major thoroughfare Interstate 395, providing seamless connectivity to Interstate 95. This office’s prime location offers easy access to local businesses and national chains, regional markets, and a modern industrial park. The asset benefits from its key positioning within a Federal Opportunity Zone and City Enterprise Zone. The city obtained $28 million from the American Rescue Plan Act and is aggressively funding economic development projects, and a $3.5 million revolving loan fund is designed to target new businesses. As the city continues to revitalize the market with these generous initiatives, a new owner can take advantage of deploying capital in the area and receiving an impressive return on investment. The asset serves as an excellent acquisition for either an owner/user or a value-add investor seeking to add value in the NE New London/Norwich office submarket. This strengthening submarket has ideally experienced a decrease in vacancies paired with lowering side-supply pressures allowing annual rental growth to increase. Acquire 101 Water Street for the opportunity to revitalize a dynamic asset in a progressing market primed for future business success. Property tours are available by appointment only. Please contact the listing broker to schedule.