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

    3 North 2 Ave Taftville Ct Taftville, CT 06380

    Sponsored
    For Lease
    Contact for pricing

    Flexible Retail & Office Units from 400 to 6,000 sq ft

    Description

    Added:
    Jan 21, 2026
    Days on Market:
    3
    Location: Norwich Avenue & North Second Ave
    📐 Units Available: From 400 sq ft to 6,000 sq ft
    Ideal Uses Include:
    • Pizzeria or Chinese Takeout
    • Coffee Shop, Juice or Smoothie Bar
    • Dance or Fitness Studio
    • Professional Offices (Real Estate, Insurance, Legal, Counseling)
    • Pet Grooming or Pet Bakery
    • Specialty Retail (Gifts, Candles, Vintage)
    • Nonprofit or Community Services Office
    • Bodega / Convenience Store
    Highlights:
    • Turnkey-ready spaces available
    • Affordable units for startups and entrepreneurs
    • Built-in customer base from surrounding residential buildings
    • Highly visible, walkable corner location
    • Strong community support for small business growth

    🏙️ Why Taftville?
    • Rapidly redeveloping community with historic charm and modern infrastructure
    • Located in Norwich, CT — just minutes from major highways (I-395, Rt. 2)
    • Growing residential population and foot traffic
    • Competitive rental rates and flexible lease terms
    • Committed local ownership interested in long-term tenant success

    Property Features for 3 North 2 Ave Taftville Ct

    General Information

    Property type
    Flex space
    Lease Type
    NNN Lease
    TSF (Total sq. ft)
    1,400-6,000 SF
    Class
    A
    Total Parking Spaces
    50
    Elevators
    No
    Lease Term
    5+ Years

    Building Details

    Year Built/Renovated
    1900/2026
    Buildings
    1
    Stories
    3

    We can help!

    Listing Contact
    Glenn La Mattina

    Learn more

    Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Taftville
    State
    Connecticut
    Longitude
    -72.048813
    Latitude
    41.5702307

    Nearby Comparable

    • New
      Contact for pricing

      Ponemah Landing

      Now Leasing: Commercial & Industrial Spaces in Taftville, CT
      575 Norwich Ave, Taftville, CT 06380
      View Details
    • $2,300 /Mo

      Updated Duplex in Norwich

      Modern 3-bedroom duplex with updated features and convenient location.
      70 Providence St, Taftville, CT 06380
      View Details
    • $1,750 /Mo

      Updated 2-Bedroom Apartment with Heat

      Clean, updated 2-bedroom apartment with included heat and laundry hookups.
      2 N 4Th Ave, Taftville, CT 06380
      View Details
    • New
      $22 SF/Yr

      The 539 Mill

      Ideal for Industrial, Cannabis, and Manufacturing Uses
      539 Norwich Ave, Norwich, CT 06380
      View Details
    • $1,600 /Mo

      Renovated Townhouse Unit For Rent

      Renovated townhouse unit in central location available for rent.
      79 S B St, Taftville, CT 06380
      View Details
    • $2,300 /Mo

      Spacious Four-Bedroom Unit For Rent

      Large first-floor unit with in-unit laundry and parking.
      324 Norwich Ave, Norwich, CT 06380
      View Details
    • $14 SF/Yr

      Norwich Specialty Property for Rent

      Specialty property available for rent in Norwich, Connecticut.
      10 Railroad Ave, Norwich, CT 06360
      View Details
    • Contact for pricing
      10,000 SF

      Dominant Retail Center in Norwich

      Remodeled retail center anchored by Shop Rite and TJ Maxx.
      624-634 W Main St, Norwich, CT 06360
      View Details
    • $1,850 /Mo

      Spacious Three-Bedroom Rental Unit

      Large two-level unit with laundry hookups and exterior storage.
      54 Mowry Ave, Norwich, CT 06360
      View Details
    • $2,500 /Mo

      Victorian Home First-Floor Apartment

      Spacious 3-bedroom apartment in a Victorian-style home.
      220 Central Ave, Norwich, CT 06360
      View Details
    • $1,725 /Mo

      Renovated Apartment Near Town Hall

      Renovated 2-bedroom apartment near amenities and transportation.
      120 Broadway 3, Norwich, CT 06360
      View Details
    • $4,236 /Mo

      Restaurant with Apartments For Rent

      Former restaurant with apartments, renovation needed, near upcoming inn.
      170 Yantic Rd, Norwich, CT 06360
      View Details

    Nearby Similar for Lease

    • $1,750 /Mo

      Updated 2-Bedroom Apartment with Heat

      Clean, updated 2-bedroom apartment with included heat and laundry hookups.
      2 N 4Th Ave, Taftville, CT 06380
      View Details
    • $2,300 /Mo

      Updated Duplex in Norwich

      Modern 3-bedroom duplex with updated features and convenient location.
      70 Providence St, Taftville, CT 06380
      View Details
    • $1,600 /Mo

      Renovated Townhouse Unit For Rent

      Renovated townhouse unit in central location available for rent.
      79 S B St, Taftville, CT 06380
      View Details
    • New
      Contact for pricing

      Ponemah Landing

      Now Leasing: Commercial & Industrial Spaces in Taftville, CT
      575 Norwich Ave, Taftville, CT 06380
      View Details

    FAQs

    What type of property is this?
    Flex space - Flexible Retail & Office Units from 400 to 6,000 sq ft
    Where is this flex space located?
    The property is located at 3 North 2 Ave Taftville Ct Taftville, CT.
    (973) 202-2563
    Request Owner's contact information
    3 North 2 Ave Taftville Ct Taftville, CT 06380
    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.
    3 North 2 Ave Taftville Ct
    Taftville, CT 06380
    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
    3 North 2 Ave Taftville Ct Taftville, CT 06380
    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
    Glenn La Mattina
    (973) 202-2563
    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.