Entity Owned 
For Lease
1 / 14
$15 SF/Yr
85 Main St, Norwich, CT 06360
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Property summary
AI-generated overview
The property consists of ground-level commercial units within Water Street Lofts in downtown Norwich, located on Water Street near the courthouse and the waterfront. A total of 5,230 square feet is configured as eight individual units of varying sizes, and the units can be combined to accommodate larger requirements. The commercial spaces are described as having high ceilings, high visibility, and ample natural light. Water Street Lofts is a 40-unit apartment complex that has undergone recent renovation, and an adjacent development at 101 Water Street includes additional apartments that were reported as under construction. The setting is suited for a range of neighborhood-oriented retail and service uses, including coffee shops, convenience stores, restaurants, salons, boutique shops, and professional offices. Access is supported by on-street parking, with a city-owned parking garage nearby.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,820 SF
Lot
0.07 ac (3,049 SF)
Zoning code
B-C
APN
GRIS M:26 B:9 L:12
UPID
US15-0858894
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Restaurant
-
Restaurant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$245k
Owner & transaction history
since 2021
5 recorded transactions
Zoning & alternative use
B-C · Griswold, CT
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 11 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$245k
Value range
$221k – $270k
±10% around blend
Estimated value / SF
$135 / SF
Confidence
High
11 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
100
$221k
blend $245k
$270k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,820 SF
Lot area
0.07 ac
Year built
1930
Stories
1
APN
GRIS M:26 B:9 L:12
Zoning
B-C
Assessed value
$131,180
Annual tax
$3,799
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$367k
Weighted, 11 comps · high confidence
Evidence
11 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
14.3 mi away · 1,626 SF
15.4 mi away · 2,130 SF
17.8 mi away · 1,745 SF
18.3 mi away · 1,920 SF
18.6 mi away · 1,440 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$245k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 100 sales
$63
+112%
County 397 sales
$83
+63%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $135/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 11 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$131k
Move the market yield to see immediate price impact.
Value / SF
$72
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$8k
$165k
$118k
$92k
$9k
$184k
$131k
$102k
$10k
$202k
$144k
$112k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
11 found
High confidence · county-verified
Closest comparable
$325k
8.0 mi · Dec 2025 · $176/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,799
Tax year 2023
Assessed value
$131,180
Assessed 2023
Previous assessed
$131,180
+0.0% YoY
Effective rate
2.90%
On assessed value
Assessed land
$30,100
Assessed improvement
$101,080
Applied tax rate
382.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
1
Total area
1,820 SF
Lot
0.07 ac (3,049 SF)
Zoning code
B-C
APN
GRIS M:26 B:9 L:12
UPID
US15-0858894
Jurisdiction
GRISWOLD
Zoning & alternative use
B-C · Griswold, CTZoning B-C · permitted uses
B-C · Griswold, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
1
Lot
0.07 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B-C
Jurisdiction
Griswold, CT
Recorded code
B-C
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B-C in Griswold, CT.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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