89 Canterbury Turnpike, Norwich, CT, Connecticut, property flyer

89 Canterbury Turnpike, Norwich, CT, 06360 | $420,000

Presenting a prime 25. 27-acre parcel currently undergoing the final stages of a 12-lot subdivision process. This exceptional offering provides significant potential for developers and investors, featuring a fully surveyed property with completed soil testing and engineering nearing completion. Key Features: * 12 Potential Lots: The proposed subdivision is anticipated to yield 12 individual parcels, ranging in size from 0. 92 to 3. 21 acres each. * Engineering Near Completion: The necessary engineering and permitting work are substantially finished, streamlining the path to final approval and development. * Fully Prepared: The land has been fully surveyed and extensive soil testing completed, de-risking the development process. Road Frontage: The property boasts significant road frontage on both Canterbury Turnpike (1350 ft +/-) and Beebe Road (400 ft +/-) off Harland Road. * Zoning: Located within an R40 zoning district. * Value Proposition: Offered as a complete package, representing a substantial discount compared to the projected total market value of the individual finished lots. This is a unique, ready-to-develop opportunity to acquire a fully prepared subdivision project at an attractive package price. All engineering work will be transferred to the buyer. Full subdivision and engineering plans available.

Features

Zoning: R40
Frontage: Municipal Street,Private Road
Lot Desc: Treed

Elem. School: Per Board of Ed
High School: Norwich Free Academy
MLS#: 24137389

Website: https://www.raveis.com
/prop/24137389/89canterburyturnpike_norwich_ct?source=qrflyer

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Listing courtesy of KW Legacy Partners Phone: (860) 313-0700

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Brianna TurgeonVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 2104486

860.625.5780

Brianna.Turgeon@raveis.com

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Is available to meet with you in our office, your home or office, evenings or weekends
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89 Canterbury Turnpike, Norwich, CT, 06360

$420,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Brianna Turgeon

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 860.625.5780

Brianna.Turgeon@raveis.com

NMLS Mortgage Loan Originator ID 2104486

	5/6 (30 Yr) Adjustable Rate Conforming*	30 Year Fixed-Rate Conforming	15 Year Fixed-Rate Conforming
Loan Amount	$336,000	$336,000	$336,000
Term	360 months	360 months	180 months
Initial Interest Rate**	5.875%	6.375%	5.490%
Interest Rate based on Index + Margin	8.125%
Annual Percentage Rate	6.345%	6.533%	5.783%
Monthly Tax Payment	N/A	N/A	N/A
H/O Insurance Payment	$75	$75	$75
Initial Principal & Interest Pmt	$1,988	$2,096	$2,744
Total Monthly Payment	$2,063	$2,171	$2,819

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.