Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    128 Broadway Norwich, CT 06360-4492
    Property profile & analytics

    128 Broadway, Norwich, CT 06360-4492

    View on Map
    • Showrooms
    • 3,083 SF
    • 0.09 lot acres
    Off-Market
    Last Sale May 19, 2025
    $235,000
    Property ID
    US15-0360879
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Showrooms

    Property Details for 128 Broadway

    Year built
    1890
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Zone code
    NC
    Property type
    Showrooms
    APN
    NORW M:102 B:2 L:7
    APU
    NORWM102B2L7

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 19, 2025 $235,000 128 Broadway LLC James M Quarto T Deed —
    May 19, 2025 $385,000 Akron Real Property LLC 128 Broadway LLC Warranty Deed $270k · Nqm Funding LLC
    May 26, 2022 $235,000 128 Broadway LLC James M Quarto T Warranty Deed —
    Oct 9, 2020 — Quarto,james M Trust James M Quarto Quit Claim Deed · related —
    Mar 15, 2002 — James M Quarto — Deed Of Trust · related $85k · Gary Needham
    Dec 10, 1987 — James M Quarto — Deed Of Trust · related $20k · Norwich City
    Apr 29, 1987 $87,500 James M Quarto Ternes,charles F Grant Deed $77k · Norwich Svgs Soc

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.076
    Latitude
    41.5275
    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
    $6,892
    $37,800
    $103,900
    $141,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,135,000
      67,512 SF

      55 Main St

      SHOW ROOM, WAREHOUSE
      55 Main St, Norwich, CT 06360-5760
      View Details
    • Value Estimation
      $6,015,000
      73,584 SF

      154 Salem Tpke

      SHOW ROOM, WAREHOUSE
      154 Salem Tpke, Norwich, CT 06360-6421
      View Details
    • Value Estimation
      $17,790,000
      179,652 SF

      42-44 Town St

      SHOW ROOM, WAREHOUSE
      42-44 Town St, Norwich, CT 06360
      View Details
    • Value Estimation by Request
      6,754 SF

      192 Main St

      SHOW ROOM, WAREHOUSE
      192 Main St, Norwich, CT 06360-4726
      View Details
    • Value Estimation by Request
      4,040 SF

      456 Main St

      SHOW ROOM, WAREHOUSE
      456 Main St, Norwich, CT 06360-5470
      View Details
    • Value Estimation by Request
      820 SF

      495 Main St

      SHOW ROOM, WAREHOUSE
      495 Main St, Norwich, CT 06360-5922
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,500 SF

      Commercial Site with Multiple Buildings

      Commercial property featuring office, barn, and greenhouse structures.
      309 Otrobando Ave, Norwich, CT 06360
      View Details
    • $69,000
      Pending

      Norwich Commercial Storefront Opportunity

      Versatile 900 sq ft commercial storefront in Norwich, CT.
      189 Central Ave, Norwich, CT 06360
      View Details
    • $195,000
      1,976 SF

      Commercial Building with Loading Platform

      1,976 SF commercial building on 0.35 acres for sale.
      77 Hamilton Ave, Norwich, CT 06360
      View Details
    • $330,000

      Turnkey Mixed-Use Investment Opportunity

      Fully renovated mixed-use property in Norwich with strong cash flow.
      27 N Main St, Norwich, CT 06360
      View Details
    • $800,000
      6,282 SF

      595 Main St, Norwich, CT 06360

      Commercial real estate
      595 Main St, Norwich, CT 06360
      View Details
    • $195,000

      Commercial Building with Loading Platform

      1,976 SF commercial building on 0.35 acres for sale.
      77 Hamilton Ave, Norwich, CT 06360
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      18,948 SF

      Norwich Mixed-Use Redevelopment Opportunity

      Mixed-use property with residential, commercial, and retail spaces for rent.
      345 Main St, Norwich, CT 06360
      View Details
    • Contact for pricing
      2,850 SF

      Retail/Office Space in Great Plains Plaza

      14,500 SF retail/office space in high-traffic Norwich plaza.
      113 Salem Tpke, Norwich, CT 06360
      View Details
    • $11 SF/Yr
      2,100 SF

      Versatile Retail/Office/Medical Space Available

      Adaptable spaces for retail, office, medical, or storage use.
      425 West Main St, Norwich, CT 06360
      View Details
    • Contact for pricing
      2,073 SF

      Retail Space with High Visibility

      Retail space with easy access and good parking.
      415-425 W Main St, Norwich, CT 06360
      View Details
    • Contact for pricing
      2,500 SF

      Freestanding Retail Property in Norwich

      2,500 SF retail property with drive-thru in historic Norwich.
      75 Town St, Norwich, CT 06360
      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.
    128 Broadway
    Norwich, CT 06360-4492
    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
    128 Broadway, Norwich, CT, 06360
    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!