Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    27 N Main St Norwich, CT 06360

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $500 /Mo

    Commercial space for rent in Norwich, approximately 630 sq ft.

    Lot size:
    0.04 Acres

    Property Features for 27 N Main St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.04 Acres

    Building Details

    Year built
    1870

    We can help!

    Listing Contact
    Toni M. Grady
    Toni M. Grady
    Source: Elliman

    Listing Agency: IMTR60 -- CT MLS Listing Agent: Toni M. Grady

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

    Learn more

    Overview

    Retail Space in Multifamily Building

    This commercial space is available for rent, offering approximately 630 sq ft of area. It is located on the first floor of a multifamily rental building. The unit features an energy-efficient mini-split system for electric heat. The tenant is responsible for covering all utility expenses.
    Location Intelligence

    Current Use by Public Records

    Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Walgreens Pharmacy Pharmacy FedEx OnSite Postal Service Kathryn Morrison Pharmacy

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    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

    • $500 /Mo
      695 SF

      Norwich Commercial Space For Lease

      Commercial space for rent in Norwich, approximately 630 SF.
      27 N 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
    • $1,200 /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
    • $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
    • $1,200 /Mo
      500 SF

      Griswold Commercial Office Space

      Commercial office space available in Griswold, CT.
      91 Slater Ave, Griswold, CT 06351
      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
    • $1,138 /Mo
      1,365 SF

      Norwich Commercial Space For Rent

      1365 sqft commercial space suitable for office, retail, or medical.
      50 Pleasant St, Norwich, CT 06360
      View Details
    • $22 SF/Yr

      The 539 Mill

      Ideal for Industrial, Cannabis, and Manufacturing Uses
      539 Norwich Ave, Norwich, CT 06380
      View Details
    • $2,000 /Mo
      714 SF

      Waterfront Commercial Space in Norwich

      714 SF commercial space with waterfront exposure and restaurant equipment.
      150 Chelsea Harbor Dr, Norwich, CT 06360
      View Details
    • $1,138 /Mo
      1,365 SF

      Versatile Retail/Office Space Available

      1365 sq ft space suitable for retail, office, or medical.
      50 Pleasant St, Norwich, CT 06360
      View Details
    • $15 SF/Yr
      5,230 SF

      Downtown Norwich Commercial Units Available

      Ground-level commercial units in downtown Norwich, suitable for various businesses.
      85 Main St, Norwich, CT 06360
      View Details
    • $1,200 /Mo
      500 SF

      Griswold Office Space For Rent

      Office space with parking near casinos and highway.
      91 Slater Ave, Griswold, CT 06351
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial space for rent in Norwich, approximately 630 sq ft.
    Where is this retail space located?
    The property is located at 27 N Main St Norwich, CT.
    What is the lease rate?
    The lease rate is $500 /Mo.
    What are key features of this property?
    This property features: - Commercial space for rent.; - Approximately 630 sq ft of space.; - Located on the 1st floor.
    (860) 235-4568
    Request Owner's contact information
    27 N Main St 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
    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 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 M. Grady
    Toni M. Grady
    (860) 235-4568 (860) 908-6918 (860) 213-8333
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!