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.