628 & 705 Laurel Hill Road Norwich, CT $ 1,000,000
628 & 705 Laurel Hill Road
$ 1,000,000
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628 & 705 Laurel Hill Road

Norwich, CT, 06360
$ 1,000,000
Baths0.0

Monthly Estimate*

$ 6,646

628 & 705 Laurel Hill Road, Norwich, CT 06360 - Image 1
628 & 705 Laurel Hill Road, Norwich, CT 06360 - Image 2
628 & 705 Laurel Hill Road, Norwich, CT 06360 - Image 3
Studio

Lots and Land for sale in Norwich, CT

for $1,000,000. The lot size is 50.

Welcome to a piece of history nestled along the picturesque banks of the Thames River 628 & 705 Laurel Hill Rd, offering stunning views of both nature's tranquility and the vibrant Mohegan Sun Casino. Formerly the Norwich State Hospital, this property is architecturally unique, historically significant, and strategically located. With former plans for a hotel, this expansive site holds promise for a myriad of possibilities on approximately 50 acres. Its prime location within the city's PDD zoning district offers a wide breadth of opportunity, allowing the prospective buyer to envision a project that could become a landmark in the area, bolstered by the presence of Mohegan Sun and the emerging Preston Riverwalk. The City of Norwich eagerly supports your vision, offering access to CIF fund application for special feasibility studies to unlock the property's highest and best use. Moreover, the Brownfield Municipal Grant Program is available for application in collaboration with the city, paving the way for a financially feasible project. Finally, should one be able to restore the property to its former architectural glory, the property would be an excellent candidate for state and federal tax credits. Adjacent to the massive Preston Riverwalk development, this property stands at the epicenter of a dynamic transformation spearheaded by the Mohegan Sun tribe. Completion of environmental remediation on the Preston Riverwalk is imminent, and in a few years.

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Lots and Land Active

Price

$ 1,000,000

Bedrooms

Studio

Property Type

Lots and Land

Taxes

$ 0

Style

Commercial Land

Lot Size

50

Town/City

Norwich

MLS | Web ID

24019833

Features
General
Zoning PDD
County New London
Property SubType Commercial Land
Tax Year July 2023-June 2024
Location Highway Access
Property Type Lots and Land For Sale
Status Active
Acres 50
Directions Turn on Laurel
City Norwich
DOM 22
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Exterior
Water Source Public Water Connected
Lot Improvements None
Lot Description Level Lot
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Interior
Utilities Available Electric Available Gas Available
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* Excluded Features
List By
Thuyan Tran

Listing Agent

Oxford Realty

Broker

thuyan1tran@gmail.com

Email

Affordability Calculator

$6,646
Per Month
100%
0%
0%
Monthly Principal & Interest
$6,646
Monthly Property Taxes
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Monthly Home Insurance
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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
899581 Elementary School
895635 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/22/2024$1,000,000 Listed Price

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628 & 705 Laurel Hill Road, Norwich, CT, 06360 is a Lots and Land for sale at $1,000,000 with a lot size of 50. 628 & 705 Laurel Hill Road is a studio with 0.0 baths. The property's zip code is 06360 which is in Norwich, CT