Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    82 Norwich-Westerly Rd North Stonington, CT 06359
    Back to Search
    Property profile & analytics

    82 Norwich-Westerly Rd, North Stonington, CT 06359

    View on Map
    • Office Spaces
    • 4,800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 82 Norwich-Westerly Rd

    Property type
    Office Spaces
    Property subtype
    Coworking space

    Description

    This exceptional two-story office building, located at 82 Norwich-Westerly Road in North Stonington, Connecticut (zip code 06359), offers 4,800 square feet of space, with 2,400 square feet currently available for lease. The property is classified as Class C and features a convenient location near the Traffic Circle connecting Route 2 and Route 84, ensuring excellent accessibility. The building's zoning is G-C, and it's situated in New London County. The building is ideal for a variety of office uses, including medical, executive, creative, traditional, and coworking spaces. Previously occupied by a Backus Hospital medical office, the available space boasts five exam rooms complete with a medical station and sink, three clinical offices, a spacious waiting room, a reception area, and two ADA-compliant bathrooms. A nurses' station is also included. The building offers both a front entrance with an ADA-compliant ramp and a staff entrance at the rear. The property is multi-tenant and does not include elevators. This presents a unique opportunity to establish a thriving business in a well-located and adaptable office space. Inquire today to learn more about this versatile and conveniently located property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Stonington
    County
    New London
    State
    Connecticut
    Longitude
    -71.8591
    Latitude
    41.4231

    Comparable in this City

    • Value Estimation by Request

      391 Norwich-Westerly Rd

      Office Units
      391 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details
    • Value Estimation by Request
      4,800 SF

      82 Norwich-Westerly Rd

      Medical Office Space
      82 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details
    • Value Estimation by Request
      700 SF

      391 Norwich-Westerly Rd

      Medical Office Space
      391 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details
    • Value Estimation by Request
      700 SF

      391 Norwich-Westerly Rd

      Medical Office Space
      391 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details
    • Value Estimation by Request
      1,992 SF

      82 Norwich-Westerly Rd

      Office Units
      82 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details
    • Value Estimation by Request
      498 SF

      82 Norwich Westerly Rd, Unit A2

      CONDOMINIUM OFFICES
      82 Norwich Westerly Rd, North Stonington, CT 06359-1744
      View Details

    Similar Nearby for Sale

    • $400,000
      4,800 SF

      Prime CT Office Building Investment

      4,800 SF Office, Sale/Leaseback
      82 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details
    • $400,000
      4,800 SF

      North Stonington Commercial Opportunity

      Commercial property with flexible zoning and potential uses.
      82 Norwich Westerly Rd, North Stonington, CT 06359
      View Details
    • $450,000
      4,800 SF

      Commercial Property Near I-95

      Commercial property with flexible zoning and convenient highway access.
      82 Norwich Westerly Rd, North Stonington, CT 06359
      View Details
    • Contact for pricing
      4,800 SF

      North Stonington Commercial Land Available

      Commercial land with flexible zoning and convenient highway access.
      82 Norwich Westerly Rd, North Stonington, CT 06359
      View Details
    • $450,000
      4,800 SF

      North Stonington Commercial Land Available

      Commercial land with flexible zoning and convenient highway access.
      82 Norwich Westerly Rd, North Stonington, CT 06359
      View Details
    • Contact for pricing
      4,800 SF

      North Stonington Office Building For Sale

      4,800 SF office building available in North Stonington, CT.
      82 Norwich-Westerly Rd, North Stonington, CT 06359
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,234 SF

      Versatile Commercial Space in North Stonington

      High-exposure commercial space ideal for various business needs.
      183 Providence New London Tpke, North Stonington, CT 06359
      View Details
    • Contact for pricing

      Versatile Building on 15 Acres

      Well-maintained building on 15 acres suitable for various uses.
      87 Mystic Rd, North Stonington, CT 06359
      View Details
    Request Owner's contact information
    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.
    82 Norwich-Westerly Rd
    North Stonington, CT 06359
    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
    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

    Thank You for Inquiry
    82 Norwich-Westerly Rd, North Stonington, CT, 06359
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!