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    276 W Main St Norwich, CT 06360

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    For Sale
    $3,500,000

    23,000+ SF retail property on Route 82 in Norwich, CT.

    Property size:
    23,308 SF
    Lot size:
    2.88 Acres

    Property Features for 276 W Main St

    General Information

    Size
    23,308 SF
    Lot size
    2.88 Acres

    Source: Northeast Private Client Group | Greater Boston Agent Tim McGeary

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

    Overview

    Norwich Retail Investment Opportunity

    This retail property, located at 276 West Main Street in Norwich, Connecticut, offers approximately 23,000 square feet of space. Situated on 2.54 acres along the Route 82 corridor, the property features frontage and visibility. Constructed in 1985, the property is home to 11 retail tenants, many with long-term tenancy. Tenant paid utilities and reimbursements are in place. The property is professionally managed and maintained. Ample off-street parking is available. The location provides proximity to major highways, benefiting from consumer traffic, local demographics, and a retail environment. The property is located along the Route 82 corridor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Glamour Nails Nail Salon Luna's Corner Convenience Store The Vapor Place Vaporizer Store King Wah Chinese ... Chinese Restaurant Dairy Queen Grill ... Fast Food Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Similar Places Nearby

    Marcus Plaza, Coinstar Kiosk - Bitcoin ATM, Oaktree Plaza

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.059616
    Latitude
    41.529283

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    FAQs

    What type of property is this?
    Shopping center - 23,000+ SF retail property on Route 82 in Norwich, CT.
    Where is this shopping center located?
    The property is located at 276 W Main St Norwich, CT.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - Stable, diversified income stream from 11 retail tenants, many with long-term tenancy.; - High visibility and excellent frontage on the highly trafficked Route 82 corridor.; - Attractive 8.32% cap rate on current NOI of $299,446, with potential for a pro forma cap rate of 9.23%.
    (857) 990-6800
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    276 W Main St Norwich, CT 06360
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    Norwich, CT 06360
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    Realmo Value Estimation

    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.

    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.

    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
    276 W Main St Norwich, CT 06360
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