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

    18 Central Ave Norwich, CT 06360

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $45,000

    Flex space with loading dock, customizable for various business needs.

    Lot size:
    0.19 Acres

    Property Features for 18 Central Ave

    General Information

    Lot size
    0.19 Acres

    Building Details

    Year built
    1921

    We can help!

    Listing Contact
    George Bassett
    Source: Elliman

    Listing Agent: George Bassett

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

    Learn more

    Property Insight Report

    Overview

    Versatile Flex Space For Sale

    This property, suitable for a small business or contractor, features an overhead door and loading dock. The interior includes a half bath and an open space that can be customized. The property is equipped with two separate 100-amp electrical panels. It is located near downtown and other businesses, offering convenient access. The space is suitable for use as a workshop or for storage of materials and equipment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flex space

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.061733
    Latitude
    41.528673

    Nearby Similar for Sale

    • New
      $410,000
      3,353 SF

      Norwich Multifamily Property with Garage

      Three-unit property with garage and expansion potential in Norwich, CT.
      70 Prospect St, Norwich, CT 06360
      View Details
    • New
      $330,000
      1,975 SF

      Turnkey Mixed-Use Investment Opportunity

      Fully renovated mixed-use property in the heart of Norwich.
      27 N Main St, Norwich, CT 06360
      View Details
    • New
      $450,000
      2,800 SF

      Griswold Multifamily Investment Opportunity

      Four-unit multifamily property with income growth potential in Griswold, CT.
      12 Aspinook St, Griswold, CT 06351
      View Details
    • $478,000
      2,430 SF

      Norwich Commercial & Investment Opportunity

      High-traffic commercial property with office space and short-term rental units.
      82 Salem Tpke, Norwich, CT 06360
      View Details
    • New
      $405,000
      3,000 SF

      Norwich Three-Family Investment Opportunity

      Well-maintained three-family property with strong rental demand and income potential.
      50 Central Ave, Norwich, CT 06360
      View Details
    • New
      $440,000
      2,818 SF

      Turnkey Multifamily Investment Opportunity

      Remodeled 4-unit property with strong income potential in Norwich.
      239 N Main St, Norwich, CT 06360
      View Details
    • $599,999
      5,016 SF

      Griswold Mixed-Use Property For Sale

      Mixed-use property featuring a home and a steel building.
      730 Plainfield Rd, Griswold, CT 06351
      View Details
    • $499,000
      4,280 SF

      Norwich Commercial Building For Sale

      Three-story commercial building in Norwich's Bean Hill neighborhood.
      200 W Town St, Norwich, CT 06360
      View Details
    • New
      $329,000
      2,174 SF

      Norwich Two-Family Home Opportunity

      Two-unit property in Norwich, ideal for owner-occupants or investors.
      8 3Rd St, Norwich, CT 06360
      View Details
    • New
      $355,000
      1,320 SF

      Norwich Commercial Property on Main

      Well-located Norwich property with high visibility and flexible use.
      72 N Main St, Norwich, CT 06360
      View Details
    • $3,500,000
      23,308 SF

      Norwich Retail Investment Opportunity

      23,000+ SF retail property on Route 82 in Norwich, CT.
      276 W Main St, Norwich, CT 06360
      View Details
    • $279,000
      2,014 SF

      Mixed-Use Property in Norwich, CT

      Versatile investment opportunity with commercial and residential spaces.
      197 Central Ave, Norwich, CT 06360
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space with loading dock, customizable for various business needs.
    Where is this flex space located?
    The property is located at 18 Central Ave Norwich, CT.
    What is the asking price?
    The asking price for this property is $45,000.
    What are key features of this property?
    This property features: - Convenient location near downtown and businesses.; - Overhead door/loading dock for easy access.; - Versatile open space customizable to various needs.
    (860) 949-7074
    Request Owner's contact information
    18 Central Ave 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.
    18 Central Ave
    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
    18 Central Ave 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
    George Bassett
    (860) 949-7074
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.