INVESTORS AND DEVELOPERS TAKE NOTICE. Massive 32, 963 usable square foot Commercial space located in Norwich, CT. This property is in need of renovation, with an exterior is in great condition, previously used as a Convalescent/Nursing Home, yet has many possibilities per R-20 Zoning Regulations. NEWER: Sprinkler system, Generator system. The parcel consists of 10. 06 Acres in a private setting and dead end street - wetlands are present. Ample parking surrounds the property with land for expansion. Potential for adding of Residential Variance to current R-20 property-use regulations. Currently R-20 Zoning Regulations: Convalescent, nursing, Rehabilitation Facilities, nursing homes, government facilities, hospitals and sanitariums, Philanthropic, educational, recreational, religious, etc by a non-profit, Public or Private Educational institutions, public utility facilities. Reach out with questions, buyer & buyer's agent to complete all due diligence necessary for their project.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $840,000 | $840,000 | $840,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.850% | 6.234% | 5.930% |
Monthly Tax Payment | $8,044 | $8,044 | $8,044 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $4,704 | $5,104 | $6,975 |
Total Monthly Payment | $12,873 | $13,273 | $15,144 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.