Retail (Building)

485 E Main St

485 E Main St, Norwich, CT 06360

Site Details

Address
485 E Main St, Norwich, CT 06360
Coordinates
41.52286, -72.06495
Type
Retail (Building)
County
southeastern-connecticut

This downtown Norwich building offers true mixed-use flexibility and financial upside, located on E Main St in an Opportunity Zone with tax incentives and abatement available. The zoning and existing building support retail, service, office, warehouse or mixed-use conversion, giving a buyer many paths to activate the site. The property sits with direct local road access and easy regional connections, minutes from I-395 and within a short drive of I-95, which helps supply and customer access. This is a practical choice for a neighborhood retailer, service operator, light distribution or a small mixed-use developer seeking an off-market deal with incentive support.

Complex
Other
City Limits
Yes
Municipality
Norwich
ETJ
No

Building Size

Building Size
5,643 SF
Rentable Space
5,916 SF
Office Space
2893.9 SF
Retail Space
8,125 SF
Industrial Space
8,125 SF
Industrial Shell
5,643 SF

Building Details

Building Class
C
Building Status
Existing
Year Built
1880
Year Renovated
1963
Construction
Frame
Number of Buildings
1.0
Building Height
12.0 FT
Floors
1
Elevators
No
Restrooms
1
Sprinklers
No
Security System
Yes
LEED Level
None
Air Conditioning
No
Vacant
No
Occupancy Type
Multi-Tenant
Owner Occupied
No
Percent Occupied
100.0 %

Land and Utilities

Land (Acres)
0.2 Acres
Land (SF)
8712.0 SF
Lot Frontage
25.8 FT
Lot Depth
112.2 FT
Subdividable
Yes
Zoning
Mixed-Use
Zoning Code
MF
On-Site Expansion
Opportunity
Electricity
Yes
Gas
No
Water
Yes
Wastewater
Yes
Telecommunications
Yes
Easements
No
Yard
No
Fenced
No
Body of Water
No

Incentives and Abatements

Incentive Zone
Yes
Tax Incentives
Yes
Abatements
Yes

Roads

Property Access
Yes
Road Constraints
No
Name Type Distance
CT 2 Highway 3.4 miles
CT 2A Highway 4.2 miles
I 395 Interstate Highway 4.2 miles
I 95 Interstate Highway 12.8 miles
I 84 Interstate Highway 36.3 miles

Airports

Name Code Distance
Windham General Aviation Airport 19.4 miles
Westerly State General Aviation Airport 21.6 miles
Salmon River Airfield General Aviation Airport 24.3 miles

Taxes

Assessed Value - Land
$ 36,700
Assessed Value - Improvements
$ 85,800
Total Assessed Value
$ 122,500
Property Tax Rate
3.82 %
Property Tax Rate
$ 3.82 per $100
Property Tax
$ 4,680
Tax Year
2024
Special Assessments
No
Transfer Tax
Yes

Acquisition

Status
Off Market
Sale Price
$ 120,000
Sale Price
$ 42 /SF
Seller Financing
No
Cap Rate
6.53 %
Real Estate Representative
Yes