About 287 Central Avenue
Mixed-use investment opportunity featuring three residential units and two commercial spaces totaling approximately 4,130 square feet. The residential mix includes two one-bedroom units and one two-bedroom unit. Two residential units and one commercial space are currently occupied, while the second commercial space and one residential unit is vacant, offering immediate lease-up and value-add potential. Our underwriting team projects stabilized annual income of $74,700, effective gross income of $73,365 and NOI of approximately $64,027-representing an estimated 13.48% pro forma cap rate at the $475,000 asking price. Built in 1860, the property includes off-street parking, public water and sewer, electric heat and hot water, city trash pickup and tenant-paid utilities. An attractive opportunity for an investor seeking diversified income, an established tenant base and additional upside. Financial information and projections are available for review.
Features of 287 Central Avenue
| MLS® # | 24207988 |
|---|---|
| Price | $475,000 |
| Bedrooms | 6 |
| Bathrooms | 5.00 |
| Full Baths | 5 |
| Square Footage | 4,130 |
| Acres | 0.08 |
| Type | Multi-Family For Sale |
| Sub-Type | 5 Family+ |
| Style | Units on different Floors, Units are Side-by-Side |
| Status | Active |
Community Information
| Address | 287 Central Avenue |
|---|---|
| Area | Greenville |
| City | Norwich |
| County | New London |
| State | Connecticut |
| Zip Code | 06360 |
Amenities
| Is Waterfront | No |
|---|---|
| Waterfront | Not Applicable |
| Has Pool | No |
Interior
| Heating | Hot Water, Electric |
|---|---|
| Cooling | Window Unit |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Full |
Exterior
| Exterior | Brick |
|---|---|
| Lot Description | Corner Lot |
| Roof | Gable |
| Foundation | Concrete |
School Information
| Elementary | Per Board of Ed |
|---|---|
| High | Norwich Free Academy |
Additional Information
| Date Listed | September 17th, 2026 |
|---|---|
| Days on Market | 18 |
| Zoning | NC |
| RE / Bank Owned | No |
Listing Details
| Office | VC Property Group, LLC |
|---|