Norwich, New London County
Medical Office appraisal in Norwich, CT
MAI-led appraisals of medical office property in Norwich for lenders, estates, owners, investors and attorneys.
Medical Office property in Norwich
Norwich is the medical center of eastern Connecticut, with doctors' and outpatient offices around William W. Backus Hospital and along Route 82 and Washington Street.
- 10%of our Norwich work is medical office property
- #1New London County town for our medical office work
- Partnerinspects every property and signs every report
How we value medical office property
Buildout
Exam rooms, plumbing, imaging space and specialized HVAC are costly to build, and they affect both rent and who will buy the building.
Location near the hospital
Proximity to hospitals and referral networks drives demand and rent for medical tenants.
Tenant mix and lease terms
Physician groups, health systems and dental practices each carry different credit and renewal risk.
Access and parking
Patients need convenient access, accessible entrances and more parking than general office.
What to send us
- Rent roll and leases
- Two to three years of operating statements
- Floor plans and a list of medical buildout
- Any recent capital improvements
Learn more about medical office appraisals or our work across Norwich.
Medical Office appraisals in Norwich: common questions
Do you appraise medical office property in Norwich?
Yes. Norwich is one of the towns where we do the most medical office work in New London County, and we inspect every property in person.
Can you do an estate or date-of-death appraisal of a medical office property in Norwich?
Yes. We prepare retrospective appraisals of medical office property in Norwich for executors, estate attorneys and families.
Is medical office valued differently than general office?
Yes. Medical office has its own tenants, rents and buyers, and its buildout can add or subtract value depending on who would use it next.
Do you appraise medical office condominiums?
Yes, including owner-occupied units bought with SBA or conventional financing.
Need a commercial appraisal in Norwich?
Tell us about the property and what the appraisal is for. We will respond with a fee and a delivery date, usually within one business day.