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

    230 Norwich Rd Plainfield, CT 06374

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Massive space, modern updates, great location.

    Property size:
    17,442 SF

    Property Features for 230 Norwich Rd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    17,442 SF
    Lot Size
    861,617 SF

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Ron Lyman
    Ron Lyman

    Listing Agency: Lyman Real Estate Listing Agent: Ron Lyman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 17,442 square foot commercial building at 230 Norwich Road in Plainfield, CT, presents a rare opportunity. Completely rebuilt, this property boasts significant upgrades throughout. The building sits on a generous 19.78-acre lot and features city water and gas services, ensuring reliable utilities. A new septic system and leaching fields are in place, meeting modern standards. The electrical system is robust, with 110/220 volts and an 800-amp service. High ceilings (17.6 feet) provide ample vertical space, complemented by two new ADA-compliant restrooms. Energy efficiency is maximized with R49 ceiling insulation and R30 wall insulation. The interior and exterior have been completely renovated, showcasing new siding, Modine heaters, and commercial ceiling fans. A dedicated office area benefits from central HVAC for climate control. Loading and unloading are simplified with new loading docks equipped with seals and bumpers, along with five new electric overhead doors. Three new entry doors further enhance accessibility. This property offers a turnkey solution for businesses seeking a large, modern, and well-equipped space in a desirable location. Detailed specifications are available in the accompanying brochure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Building Supply Auto Repair Shop Hair Salon Auto Parts Store Storage Facility Discount Store Electrical Service Bakery

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Windham
    State
    Connecticut
    Longitude
    -71.90524
    Latitude
    41.70329

    Nearby Similar for Sale

    • $339,000
      2,400 SF

      Plainfield Commercial Garages For Sale

      Commercial garages with overhead doors, bathroom, and utilities on Route 12.
      169 Norwich Rd, Plainfield, CT 06374
      View Details
    • New
      $400,000
      2,850 SF

      Plainfield Commercial Building For Sale

      Commercial building with storefront units, formerly a pizza place.
      57 Wauregan Rd, Plainfield, CT 06387
      View Details
    • $9,200,000
      88,000 SF

      Plainfield Industrial Property with Expansion Potential

      9.6-acre industrial property with expansion potential near I-395.
      55 Lathrop Road Ext, Plainfield, CT 06374
      View Details
    • $429,000
      4,007 SF

      Mixed-Use Commercial Building with Apartment

      Versatile commercial space with residential apartment for sale.
      624 Norwich Rd, Plainfield, CT 06374
      View Details
    • New
      $370,000
      Pending

      Income-Producing Three-Family Property

      Three-family property with three bedrooms in each unit.
      41 Grove St, Plainfield, CT 06354
      View Details
    • $259,000
      Pending

      Spacious Industrial Garage on 1.7 Acres

      2,300 sq ft industrial garage on 1.7 acres.
      58 Brunswick Ave, Plainfield, CT 06354
      View Details
    • $474,900

      Plainfield Specialty Property For Sale

      Specialty property available for purchase in Plainfield, Connecticut.
      12 Ann St, Plainfield, CT 06374
      View Details
    • $629,000

      Lathrop Road Specialty Property

      Specialty property available for sale in Plainfield, Connecticut.
      146 Lathrop Rd, Plainfield, CT 06374
      View Details
    • $380,000

      Plainfield Specialty Property For Sale

      Specialty property available for purchase in Plainfield, Connecticut.
      29 Pleasant St, Plainfield, CT 06374
      View Details
    • $525,000

      Spaulding Road Specialty Property

      Specialty property available for sale on Spaulding Road.
      261 Spaulding Rd, Plainfield, CT 06374
      View Details
    • $340,000

      Plainfield Specialty Property For Sale

      Specialty property available for purchase in Plainfield, Connecticut.
      24 Marie St, Plainfield, CT 06374
      View Details
    • $350,000

      Plainfield Two-Family Home with Garage

      Spacious two 4-bedroom units with detached garage and parking.
      158 S Walnut St, Plainfield, CT 06374
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Massive space, modern updates, great location.
    Where is this commercial real estate located?
    The property is located at 230 Norwich Rd Plainfield, CT.
    What is the asking price?
    The asking price for this property is $100.
    (860) 887-5000
    Request Owner's contact information
    230 Norwich Rd Plainfield, CT 06374
    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.
    230 Norwich Rd
    Plainfield, CT 06374
    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
    230 Norwich Rd Plainfield, CT 06374
    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
    Ron Lyman
    Ron Lyman
    Real Estate License ID: REB.0417795
    (860) 887-5000 (860) 884-4666
    Learn more
    Google sign-in failed. Please try again or use another login method.