620 Route 32 - Office FOR SALE


Uncasville, CT 06382
$1,200,000 USD
620 Route 32, Uncasville, CT for Sale
$1,200,000 USD
Office - FOR SALE
1/26
null | 5.25% Cap Rate

620 Route 32
Uncasville, CT 06382


HIGHLIGHTS

  • 100% Leased Medical Investment with two established healthcare tenants providing immediate income stability.
  • Long-Term Dental Anchor Tenant (Daleo Liu PLLC) under lease through 2036 with CPI-based rent escalations.
  • Future Owner-User Opportunity – ±4,420 SF will become available in 2026, allowing occupancy or re-leasing at higher market rates.
  • SBA Loan Eligible – Owner-occupants using 51%+ of the building can qualify for SBA 504 or 7(a) financing (as little as 10% down, up to 25-year terms).
  • Attractive Yield – Current NOI ˜ $63,000 with potential to increase to $110,000+ post-2026 lease rollover.
  • Prime Route 32 Location – ±19,000 vehicles per day; high visibility corridor between Norwich and New London.

OVERVIEW

Seaport Real Estate Services is pleased to present 620 Norwich–New London Turnpike, a ±7,616 SF two-story medical and professional office building located along the high-traffic Route 32 corridor in Montville, Connecticut. The property is fully leased to two established healthcare tenants, offering immediate income stability with built-in rent growth and future flexibility for investors or owner-users. The first floor is anchored by Daleo Liu PLLC, a long-standing dental practice occupying ±2,231 SF under a lease extending through October 2036 with CPI-based rent escalations capped at 4% annually. Kristin Mahan, APRN, occupies ±4,420 SF across the first and second floors under leases running through September 2026. Combined, the tenants generate approximately $103,998 in annual gross income, resulting in a current NOI of roughly $63,000, with the potential to increase to $110,000–$112,000 upon re-leasing at current market rates ($15.50–$16.50/SF NNN). Situated on ±1.40 acres, the property offers ample parking, ADA accessibility, modern medical infrastructure, and excellent visibility from Route 32, which sees approximately 19,000 vehicles per day. The location provides convenient access to I-395, Norwich, and Mohegan Sun, making it ideal for healthcare, professional, or service-based businesses. Zoned C-1 Commercial with Office Overlay, the property allows a wide range of permitted uses, including medical and dental offices, professional services, personal wellness, childcare, and education-related facilities. This asset offers a unique opportunity for both investors and owner-users. Investors will benefit from stable healthcare tenancy and CPI-linked escalations, while owner-users can occupy ±4,400 SF upon the 2026 lease expiration and maintain income from the dental practice. Additionally, buyers who plan to occupy 51% or more of the building may qualify for SBA 504 or 7(a) financing, requiring as little as 10% down and offering fixed-rate terms up to 25 years. With a prime location, strong tenant mix, and clear path for income growth, 620 Norwich–New London Turnpike stands as an excellent stabilized investment today and a flexible owner-user opportunity tomorrow.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$158 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

39

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,984 SF

ZONING

C-1

APN/PARCEL ID

MONT-000079-000006

ASK ABOUT THIS PROPERTY

Tim BraySeaport CommercialMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Tim BraySeaport CommercialMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.