Norwich, New London County
Mixed-Use appraisal in Norwich, CT
MAI-led appraisals of mixed-use property in Norwich for lenders, estates, owners, investors and attorneys.
Mixed-Use property in Norwich
Norwich's downtown and neighborhood centers have many older brick mixed-use buildings with retail or office on the ground floor and apartments above.
- 6%of our Norwich work is mixed-use property
- #1New London County town for our mixed-use work
- Partnerinspects every property and signs every report
How we value mixed-use property
Two income streams
Residential and commercial space are analyzed separately, with their own rents, vacancy and risk.
Storefront demand
Ground-floor retail rents and vacancy vary block by block, so we use local evidence.
Building condition
Older mixed-use buildings often carry code, egress and system issues that affect value.
Sale comparables
Mixed-use buildings sell less often than single-use property, so comparable selection takes care.
What to send us
- Rent roll for every commercial and residential unit
- Commercial leases
- Two to three years of operating statements
- Real estate tax bill
Learn more about mixed-use appraisals or our work across Norwich.
Mixed-Use appraisals in Norwich: common questions
Do you appraise mixed-use property in Norwich?
Yes. Norwich is one of the towns where we do the most mixed-use work in New London County, and we inspect every property in person.
Can you do an estate or date-of-death appraisal of a mixed-use property in Norwich?
Yes. We prepare retrospective appraisals of mixed-use property in Norwich for executors, estate attorneys and families.
How do you value a building with a store and apartments?
We estimate market rent for each component, build a combined income and expense analysis, and test the result against sales of similar buildings.
What if the storefront is vacant?
We estimate market rent and the time and cost to lease it, and reflect that in the value.
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.