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    Property profile & analytics

    5 Main St Norwich, NY 13815-1497

    • Investment properties
    • 29,230 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimation
    $325,000
    Location Intelligence
    Property ID
    US63-0148261
    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

    • Investment properties

    Property Details for 5 Main St

    Year built
    1950
    Lot size
    0.13 lot acres
    Property size
    29,230 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    081100 136.56-2-4
    APU
    811001365624

    Description

    This exceptional mixed-use property, located at 5 West Main Street in Norwich, NY, presents a unique investment opportunity. The five-story, 29,230-square-foot building boasts a rich history, having served as an opera house, post office, and Masonic lodge. Completely renovated, it now comprises 12 apartments and two commercial office spaces, totaling 14 rental units with 100% occupancy. The commercial units, each exceeding 2,500 square feet, recently renewed their two-year leases. Apartment units are spread across floors two and three, with two additional apartments located on the ground floor behind the commercial spaces. A new Otis elevator services all floors, providing private access to the expansive owner's penthouse suite on the fourth and fifth floors. This 6,500-square-foot duplex features three bedrooms, three bathrooms, a great room (67' x 55'), a fully equipped cherry kitchen, home theater, pizza oven, stage, dance floor, and a full-length balcony. The building features new mechanicals, windows, and a one-year-old roof with a warranty. Other recent upgrades include a complete fire sprinkler system, new plumbing, lighting, kitchens, bathrooms, flooring, appliances, and heating systems. The building is entirely up to code and includes coin-operated laundry on each floor. Situated in a vibrant location near cafes, restaurants, and shops, this property offers a compelling blend of historical charm and modern amenities, with a strong NOI of $138,139 and an 8% cap rate. The asking price is $1,800,000, with a price per square foot of $61.58. The lot size is 5,663 square feet, and the building is zoned commercial. This is a turnkey investment opportunity with significant potential for future growth.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    Chenango
    State
    New York
    Longitude
    -75.5244
    Latitude
    42.5309

    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
    0
    $0.00
    $40,000
    $235,000
    $275,000
    -
    $78,431
    $460,785
    $539,216

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    5 Main St
    Norwich, NY 13815-1497
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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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