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Office

PREMIER DOWNTOWN LOCATION | OPPORTUNITY ZONE

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101 WATER ST, NORWICH, CT 06360

Transaction Fee:
Opportunity Zone
PROPERTY INFORMATION
Asset Type: Property
Primary Property Type: Office
Building Size (Sq. Ft.): 34,440
Year Built: 1986
Occupancy: 0%
Lot Size (Acres): 0.92
Parking Count: 85
Floors: 3
Accessible three-story, 34,440-SF versatile office building providing captivating views of the Thames River in Downtown Norwich, Connecticut.
Impressively situated with high visibility and ample on-site covered parking options with seamless connectivity to major thoroughfares I-395 and I-95.
Diversified opportunity for either an owner/user or value-add investor seeking to acquire a well-established asset in a market with heightened demand.

Connie HowardUS PropertiesCT Lic # RES.0798067Broker Contact(860) 439-0663
Susan Howard CihockiUS PropertiesBroker Contact(860) 941-0694
Casey HarrellTen-XSales Engineer(804) 806-7909
Property Id1219172
Event Item2025-04-21

Property Information

Accessible three-story, 34,440-SF versatile office building providing captivating views of the Thames River in Downtown Norwich, Connecticut.
Impressively situated with high visibility and ample on-site covered parking options with seamless connectivity to major thoroughfares I-395 and I-95.
Diversified opportunity for either an owner/user or value-add investor seeking to acquire a well-established asset in a market with heightened demand.
Primely located within an Opportunity Zone and City Enterprise Zone, offering aggressive incentives and funding for economic development projects.
Primary Property Type
Office
Type of Ownership
Fee Simple
Building Class
Class B
Assessor's Parcel Number
NORW-000102-000006-000062
Property ID
1219172
Parking Count
85
Zoning Designation
CC
Common Amenities
24 Hour Access, Waterfront
Floor Plate Size (Sq. Ft.)
11,480
Occupancy
0%
Year Built
1986
Floors
3
Lot Size (Acres)
0.92
Starting Bid
$250,000
Building Size (Sq. Ft.)
34,440
Parking Ratio
2.47
Floor Area Ratio
0.86
Tenancy Type
Multi
Primary Property Type
Office
Occupancy
0%
Type of Ownership
Fee Simple
Year Built
1986
Building Class
Class B
Floors
3
Assessor's Parcel Number
NORW-000102-000006-000062
Lot Size (Acres)
0.92
Property ID
1219172
Starting Bid
$250,000
Parking Count
85
Building Size (Sq. Ft.)
34,440
Zoning Designation
CC
Parking Ratio
2.47
Common Amenities
24 Hour Access, Waterfront
Floor Area Ratio
0.86
Floor Plate Size (Sq. Ft.)
11,480
Tenancy Type
Multi

Detailed Description

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.

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