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620 Route 32 7,616 SF 100% Leased Office Building Uncasville, CT 06382 $1,675,104 CAD ($219.95 CAD/SF) 5.25% Cap Rate



INVESTMENT HIGHLIGHTS
- 100% Leased Medical Investment with two established healthcare tenants providing immediate income stability.
- Future Owner-User Opportunity – ±4,420 SF will become available in 2026, allowing occupancy or re-leasing at higher market rates.
- Attractive Yield – Current NOI ˜ $63,000 with potential to increase to $110,000+ post-2026 lease rollover.
- Long-Term Dental Anchor Tenant (Daleo Liu PLLC) under lease through 2036 with CPI-based rent escalations.
- 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).
- Prime Route 32 Location – ±19,000 vehicles per day; high visibility corridor between Norwich and New London.
EXECUTIVE SUMMARY
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.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
- Fitness Center
- Signage
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Connecticut Physical Therapy Specialist
- Health Care and Social Assistance
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Connecticut Physical Therapy Specialist | Health Care and Social Assistance | - | $9.99 | Lorem Ipsum | Jan 0000 |
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Versatile Commercial Space for Lease | Rogers Ave Corridor – Montville, CT This flexible commercial space, currently operating as a gym, offers a wide range of potential uses including fitness, medical, physical therapy, or professional office. The existing layout features changing rooms, two half baths, a reception area, and open floor space adaptable to a variety of configurations. The unit is equipped with central heating and air conditioning for year-round comfort. For fitness operators, the current gym equipment may be available for purchase directly from the existing tenant, providing a turnkey opportunity. The space can also be expanded and combined with adjacent suites for up to ±4,420 square feet of contiguous space. Located along the high-traffic Route 32 corridor, this property benefits from excellent visibility, signage opportunities, and convenient access to I-395, making it ideal for both client-facing and destination-based businesses. Nearby employers include Mohegan Sun, Electric Boat, and Backus Hospital, adding to the steady flow of professionals and residents in the area. Ample on-site parking and professional neighboring tenants make this an excellent choice for a growing business seeking a visible and accessible Montville location.
620 Norwich–New London Turnpike | Montville, CT This ±1,650 SF first-floor medical office suite offers an exceptional opportunity for healthcare or professional users seeking a visible, accessible, and move-in-ready space along the busy Route 32 corridor. The existing layout includes a welcoming reception and waiting area, five private offices/exam rooms, and a full bathroom, making it ideal for medical, therapy, or professional office operations. The space is in excellent condition and can easily be adapted to meet the needs of various professional uses. For larger users, additional contiguous space is available, allowing for expansion up to ±4,420 square feet total. The building is also currently offered for sale, presenting an opportunity for an owner-user to lease now and purchase later. Conveniently located minutes from I-395, Norwich, and Mohegan Sun, this property provides high visibility, ample on-site parking, and a professional setting surrounded by other healthcare and service-oriented tenants.
620 Norwich–New London Turnpike | Montville, CT Located within a modern, well-maintained professional building along the high-traffic Route 32 corridor, this ±1,190 SF second-floor office suite offers an excellent opportunity for medical, wellness, or professional users seeking a move-in-ready space in a prime Montville location. The current layout features six private offices or treatment rooms, two bathrooms, and a kitchen/break area, providing an efficient and flexible setup for a variety of professional or clinical uses. The space benefits from central heating and air conditioning, ample natural light, and on-site parking with easy access for clients and staff. For tenants requiring additional space, this suite can be combined with adjacent areas for up to ±4,420 square feet of contiguous space. The building is also offered for sale, creating a unique opportunity for an owner-user to secure both occupancy and long-term investment potential. Situated minutes from I-395, Norwich, and Mohegan Sun, the property offers outstanding visibility, accessibility, and proximity to major employers, including healthcare and service-related businesses.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,900 SF | Office/Retail | Full Build-Out | 60 Days |
| 1st Floor | 1,650 SF | Office/Medical | - | 60 Days |
| 2nd Floor | 1,190 SF | Office/Medical | - | 60 Days |
1st Floor
| Size |
| 1,900 SF |
| Space Use |
| Office/Retail |
| Condition |
| Full Build-Out |
| Available |
| 60 Days |
1st Floor
| Size |
| 1,650 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| 60 Days |
2nd Floor
| Size |
| 1,190 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| 60 Days |
1st Floor
| Size | 1,900 SF |
| Space Use | Office/Retail |
| Condition | Full Build-Out |
| Available | 60 Days |
Versatile Commercial Space for Lease | Rogers Ave Corridor – Montville, CT This flexible commercial space, currently operating as a gym, offers a wide range of potential uses including fitness, medical, physical therapy, or professional office. The existing layout features changing rooms, two half baths, a reception area, and open floor space adaptable to a variety of configurations. The unit is equipped with central heating and air conditioning for year-round comfort. For fitness operators, the current gym equipment may be available for purchase directly from the existing tenant, providing a turnkey opportunity. The space can also be expanded and combined with adjacent suites for up to ±4,420 square feet of contiguous space. Located along the high-traffic Route 32 corridor, this property benefits from excellent visibility, signage opportunities, and convenient access to I-395, making it ideal for both client-facing and destination-based businesses. Nearby employers include Mohegan Sun, Electric Boat, and Backus Hospital, adding to the steady flow of professionals and residents in the area. Ample on-site parking and professional neighboring tenants make this an excellent choice for a growing business seeking a visible and accessible Montville location.
1st Floor
| Size | 1,650 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | 60 Days |
620 Norwich–New London Turnpike | Montville, CT This ±1,650 SF first-floor medical office suite offers an exceptional opportunity for healthcare or professional users seeking a visible, accessible, and move-in-ready space along the busy Route 32 corridor. The existing layout includes a welcoming reception and waiting area, five private offices/exam rooms, and a full bathroom, making it ideal for medical, therapy, or professional office operations. The space is in excellent condition and can easily be adapted to meet the needs of various professional uses. For larger users, additional contiguous space is available, allowing for expansion up to ±4,420 square feet total. The building is also currently offered for sale, presenting an opportunity for an owner-user to lease now and purchase later. Conveniently located minutes from I-395, Norwich, and Mohegan Sun, this property provides high visibility, ample on-site parking, and a professional setting surrounded by other healthcare and service-oriented tenants.
2nd Floor
| Size | 1,190 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | 60 Days |
620 Norwich–New London Turnpike | Montville, CT Located within a modern, well-maintained professional building along the high-traffic Route 32 corridor, this ±1,190 SF second-floor office suite offers an excellent opportunity for medical, wellness, or professional users seeking a move-in-ready space in a prime Montville location. The current layout features six private offices or treatment rooms, two bathrooms, and a kitchen/break area, providing an efficient and flexible setup for a variety of professional or clinical uses. The space benefits from central heating and air conditioning, ample natural light, and on-site parking with easy access for clients and staff. For tenants requiring additional space, this suite can be combined with adjacent areas for up to ±4,420 square feet of contiguous space. The building is also offered for sale, creating a unique opportunity for an owner-user to secure both occupancy and long-term investment potential. Situated minutes from I-395, Norwich, and Mohegan Sun, the property offers outstanding visibility, accessibility, and proximity to major employers, including healthcare and service-related businesses.
PROPERTY TAXES
| Parcel Number | MONT-000079-000006 | Total Assessment | $809,857 CAD (2025) |
| Land Assessment | $162,206 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $647,651 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
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620 Route 32
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