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    377 Main St Niantic, CT 06357-3173
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    377 Main St Niantic, CT 06357-3173

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    • Investment properties
    • 27,356 SF
    • 0.95 lot acres
    Off-Market
    Property ID
    US15-0104577
    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
    $1,930,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sue Russ, Century21 Shutters & Sails / Real Estate Agency
    • Smith Brothers Insurance / Insurance Agency
    • Indian Woods Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Rick Bates Real Estate / Production Facility / Furniture & Home Goods
    • Dr. Sarah Zambarano / Physician

    Property Details for 377 Main St

    Year built
    2015
    Construction
    STEEL FRAME
    Lot size
    0.95 lot acres
    Property size
    27,356 SF
    Zone code
    CB
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    ELYM M:011.2 B:00134 L:00000
    APU
    ELYMM0112B00134L00000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,965,000
      Market price range: $1.18M - $3.57M
      AI Estimate
      $1,894,000
      Market price range: $1.31M - $2.94M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,260,000
      Current use
      RETAIL STORES
      $3,050,000
      Change: +35% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,320,000
      Change: +3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Niantic
    County
    New London
    State
    Connecticut
    Longitude
    -72.1977
    Latitude
    41.3231
    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
    $63,077
    $231,700
    $2,303,560
    $2,535,260
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      768 SF

      251 Flanders Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 768 SF
      251 Flanders Rd, Niantic, CT 06357-1214
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    • Value Estimation by Request
      3,295 SF

      184 Flanders Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,295 SF
      184 Flanders Rd, Niantic, CT 06357-1201
      View Details
    • Value Estimation by Request
      1,448 SF

      90 Pennsylvania Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,448 SF
      90 Pennsylvania Ave, Niantic, CT 06357-3230
      View Details
    • Value Estimation by Request
      2,196 SF

      44 Pennsylvania Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,196 SF
      44 Pennsylvania Ave, Niantic, CT 06357-3231
      View Details
    • Value Estimation by Request
      3,110 SF

      334 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,110 SF
      334 Main St, Niantic, CT 06357-3102
      View Details
    • Value Estimation by Request
      5,209 SF

      374 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,209 SF
      374 Main St, Niantic, CT 06357-3152
      View Details

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      Corner lot in private beach community near Niantic amenities.
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      East Lyme Restaurant Opportunity

      Established breakfast and lunch restaurant in high-traffic shoreline location.
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      Turnkey Salon in East Lyme

      Established salon for sale in vibrant Niantic shoreline village.
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    Similar Nearby for Lease

    • $1,560 /Mo
      1,664 SF

      Industrial Warehouse Space For Lease

      1,664 SF warehouse space available for lease.
      218 Flanders Rd, Niantic, CT 06357
      View Details
    • $20 SF/Yr
      1,500 SF

      Retail/Office Space in Niantic

      3,000 SF retail/office space with high visibility.
      170 Flanders Rd, East Lyme, CT 06357
      View Details
    • $20 SF/Yr
      1,850 SF

      Retail/Office Space in Niantic

      Retail/office space in desirable Niantic location with high visibility.
      170 Flanders Rd, East Lyme, CT 06357
      View Details
    • $1,500 /Mo

      Niantic Apartment Near Downtown

      One bedroom apartment near beaches, shopping, restaurants, and parks.
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    • $950 /Mo
      4,800 SF

      Flexible Spaces in Rocky Neck

      Modern flex spaces with overhead doors and A/C for rent.
      11 Freedom Way, East Lyme, CT 06357
      View Details
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    377 Main St
    Niantic, CT 06357-3173
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    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
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