Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    27 N Main St, Unit 2 Norwich, CT 06360

    Sponsored
    For Lease
    $500 /Mo ($8 SF/Yr)

    COMMERCIAL - Norwich, CT

    Property size:
    695 SF
    Lot size:
    0.04 Acres
    Days on Market:
    88
    Last Refresh:
    Jan 31 at 4:06 am

    Property Features for 27 N Main St

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    GC
    Size
    695 SF
    Lot size
    0.04 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Other (Heating)
    Cooling system
    Ductless, Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1870

    We can help!

    Listing Contact
    Toni Grady
    Toni Grady

    IMTR60 -- CT MLS (860) 908-6918

    Listing agent Toni Grady (860) 213-8333

    Listing date Nov 5, 2025

    MLS# 24117926

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Norwich Commercial Space For Lease

    This commercial space is available for rent. The space is approximately 630 square feet and is located on the first floor of a multifamily rental property. The unit features an energy-efficient mini-split system for electric heat. The tenant is responsible for all utilities. The lot size is 0.04 acres and the property size is 695 square feet. The zoning is GC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Convenience Store Walgreens Pharmacy Pharmacy FedEx OnSite Mailing Service Kathryn Morrison Pharmacy

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -71.985941
    Latitude
    41.604264

    Nearby Similar for Lease

    • $5,200 /Mo
      5,648 SF

      Historic Restaurant/Brewery Space Available

      Equipped restaurant/brewery space with a rich history in Norwich, CT.
      76 Franklin St, Norwich, CT 06360
      View Details
    • $6 SF/Yr
      15,500 SF

      Norwich Flex Warehouse Space

      15,500 SF flex warehouse space available for lease.
      50 Pleasant St, Norwich, CT 06360
      View Details
    • $1,200 /Mo
      2,509 SF

      Versatile Commercial Space in Norwich

      Expansive commercial space in Franklin Square, ideal for various businesses.
      321 Main St, Norwich, CT 06360
      View Details
    • $1,100 /Mo
      1,268 SF

      Voluntown Retail Space For Lease

      Retail space in Village District, Voluntown, available in March.
      16 Church St, Voluntown, CT 06384
      View Details
    • $1,685 /Mo
      2,610 SF

      Mixed-Use Property in Prime Location

      Centrally located mixed-use property with retail/office space and residential unit.
      11 Bath St, Norwich, CT 06360
      View Details
    • $4,236 /Mo
      3,774 SF

      Norwich Commercial Space For Lease

      Former restaurant with apartments, renovation needed, near upcoming inn.
      170 Yantic Rd, Norwich, CT 06360
      View Details
    • $25 SF/Yr
      18,948 SF

      Norwich Mixed-Use Redevelopment Opportunity

      Mixed-use property with residential, commercial, and retail spaces for rent.
      345 Main St, Norwich, CT 06360
      View Details
    • $12 SF/Yr
      5,232 SF

      Downtown Norwich Office Space Available

      Premium, newly-renovated office space in downtown Norwich for rent.
      110 Broadway, Norwich, CT 06360
      View Details
    • $2,300 /Mo

      Updated Three-Bedroom Apartment in Norwich

      Updated 3-bedroom apartment with modern amenities in central Norwich.
      15 Broad St, Norwich, CT 06360
      View Details
    • $11 SF/Yr
      4,520 SF

      Renovated Retail Space in Downtown

      2,000 SF renovated retail space in up-and-coming downtown Norwich.
      51-53 Broadway, Norwich, CT 06360
      View Details
    • $1,900 /Mo

      Riverfront Apartment with Spacious Layout

      Charming 2-bed apartment with river views and in-unit laundry.
      23 Waldo Rd, Norwich, CT 06360
      View Details
    • $1,400 /Mo

      Norwich Apartment For Rent

      Recently renovated apartment in Norwich, CT, with modern amenities.
      23 Williams St, Norwich, CT 06360
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial space for rent in Norwich, approximately 630 SF.
    Where is this retail space located?
    The property is located at 27 N Main St, Unit 2 Norwich, CT.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: - Approximately 630 sq ft commercial space.; - Located on the 1st floor of a multifamily rental.; - Newly installed, energy-efficient mini-split unit for electric heat.
    (860) 235-4568
    Request Owner's contact information
    27 N Main St, Unit 2 Norwich, CT 06360
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    27 N Main St, Unit 2
    Norwich, CT 06360
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    27 N Main St, Unit 2 Norwich, CT 06360
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Toni Grady
    Toni Grady
    (860) 235-4568
    Learn more
    Google sign-in failed. Please try again or use another login method.