Commercial Real Estate Market in Norwich, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
202 active listings and 1,413 off-market properties in Norwich, CT. Commercial property asks $79/SF to buy and $15.24/SF/Yr to lease.
Market Trends
Norwich, CT spans 57.2 square miles in New London County, Connecticut. Figures below refresh monthly; last updated 30 September 2026.
Office
Office vacancy in Norwich, CT runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Vacancy Rate % in Northeast region
Retail
Retail space in Norwich, CT asks $305/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Norwich, CT runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Norwich, CT asks $229/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 70.4%
- Commercial 14.6%
- Open space 9.5%
- Planned_development 3.6%
- Industrial 0.9%
Largest Zones share of zoned land by district
Residential
Residential
Residential
Recreation Open Space
Multi Family
Norwich, CT zones 18,341 acres across 13 districts. Commercial zoning covers 14.6% of zoned land, residential 70.4%, open space 9.5% and industrial 0.9%. The largest single district is Residential at 25.6%. For commercial buyers the practical constraint is that only 15.5% of land carries a commercial or industrial designation.
Residential (R-40)
Single Family Districts R-10, R-15, R-20, R-40, R-80 Multifamily Districts MF Chapter 1: Introduction 2 City of Norwich Zoning Regulations Commercial Districts Business Park District BP Chelsea Central District CC General Commercial District GC Industrial Production, Manufacturing, & Research District PMR Neighborhood Commercial District NC Norwich State Hos…
Market overview
Demographics & Economy
Norwich, CT has 41,874 residents in 19,827 households. Density runs 732 people per square mile. Median household income here is $70,814 and median gross rent $1,255 a month.
41,874
Population
19,827
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
89%
High-School Grad
57.2 sq mi
ZIP Area
732
Density / Sq Mi
$70,814
Median Household Income
$43,005
Median Earnings
$1,255
Median Rent
$245,996
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| North Stonington | — | — |
| Lisbon | — | — |
| Plainfield | — | $23.38 |
| Hopkinton | — | — |
Commercial property in Norwich, CT asks $79/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Norwich?
Commercial property in Norwich, CT asks an average of $79 per square foot. The 5 most recent recorded sales traded at a median of $80/SF. Retail carries the highest asking price at $305/SF.
How much does it cost to lease commercial space in Norwich?
Asking lease rates in Norwich, CT average $15.24 per square foot per year.
What zoning applies to commercial property in Norwich?
Norwich, CT zones 18,341 acres across 13 districts, of which 14.6% is commercial and 0.9% industrial. The largest single district is Residential at 25.6% of zoned land. Single Family Districts R-10, R-15, R-20, R-40, R-80 Multifamily Districts MF Chapter 1: Introduction 2 City of Norwich Zoning Regulations Commercial Districts Business Park District BP Chelsea Central District CC General Commercial District GC Industrial Production, Manufacturing, & Research District PMR Neighborhood Commercial District NC Norwich State Hos… Residential zoning covers 70.4% and open space 9.5%.
Where does Realmo's Norwich market data come from?
Realmo compiles Norwich, CT figures from 6 recent recorded sales, 145 active sale listings, 57 active lease listings, 1,413 tracked off-market properties, the current Norwich zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 145 active for-sale and 57 active for-lease listings in Norwich, CT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 18,341 zoned acres across 13 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
