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    Property profile & analytics

    485 Main St Norwich, CT 06360

    • Showrooms
    • 5,643 SF
    • 0.20 lot acres
    For Sale
    View listing
    $349,900
    Value Estimation
    Location Intelligence
    Property ID
    US15-1239037
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Providence Lacquer & Supply / Auto Body Shop

    Property Details for 485 Main St

    Year built
    1880
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.20 lot acres
    Property size
    5,643 SF
    Zone code
    MF
    Property type
    Showrooms
    APN
    NORW M:103 B:4 L:31
    APU
    NORWM103B4L31

    Description

    This exceptional investment opportunity presents a 5,643 square foot industrial property located at 485 E Main St, Norwich, CT 06360. The property, built in 1880, sits on a 0.2-acre lot and features one building with five units, currently operating at 100% occupancy. The flexible manufacturing, warehouse, and flex zoning (MF) allows for diverse uses. The building boasts a 12-foot ceiling height, though it lacks loading docks or dock-high doors. All five tenants are on month-to-month leases, presenting an opportunity for below-market rent increases or owner-occupancy. The 6.53% cap rate makes this a strong investment prospect in the growing Norwich market. This owner/user investment is priced at $349,900. The property's prime location in New London County offers significant growth potential for businesses seeking expansion or investors looking for a solid return. The current use is storage, with five separate tenant spaces. This presents a unique opportunity for a single-tenant user or an investor seeking a multi-tenant income stream.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $235,000

    • CAP approach

      CAP return
      Estimation
      6%
      $260,000
      6.5%
      $215,000
      7%
      $220,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $220,000
      Geo Method
      $225,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $240,000
      Retail
      $205,000
      Mixed-Use
      $245,000
      Hospitality
      $190,000
      Educational
      $195,000
      Residential Income
      $210,000
      Energy
      $255,000
      Income-Based Land
      $245,000
      Food Service
      $230,000

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.065
    Latitude
    41.5227
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,885
    $35,200
    $85,800
    $121,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      300 Main St

      SHOW ROOM, WAREHOUSE • 18,803 SF
      300 Main St, Norwich, CT 06360
      View Details
    • Value Estimation
      $165,000
      6,926 SF

      138-142 Main St

      SHOW ROOM, WAREHOUSE • 6,926 SF
      138-142 Main St, Norwich, CT 06360
      View Details

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    485 Main St
    Norwich, CT 06360
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    Realmo Value Estimation

    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.

    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.

    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
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