Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    123 Elm St Old Saybrook, CT 06475

    Sponsored
    For Sale
    $114,000

    Commercial For Sale - Old Saybrook, CT

    Property size:
    1,200 SF
    Days on Market:
    49
    Last Refresh:
    Jan 22 at 7:06 am

    Property Features for 123 Elm St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B-2
    APN
    1027063
    Exterior features
    Sidewalk, Gutters, Pole Sign, Door Sign
    Size
    1,200 SF

    Taxes and HOA fees

    Expense value
    519
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1985
    Floors in Building
    2
    Flooring type
    Vinyl
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Susan Malan

    William Pitt Sotheby's International Realty [email protected]

    Listing agent Susan Malan (860) 767-7488

    Listing date Dec 5, 2025

    MLS# 24138052 Listing URL

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Updated Office Space For Sale

    This updated office space offers approximately 1,200 square feet on the first floor. The unit features new flooring throughout and private restrooms. Off-street parking is available. The property is located near the center of town, providing a convenient location while also being tucked away for added privacy. It is suitable for professional offices, wellness services, or other commercial uses. Also for sale are unit 14 and unit 15, which can be combined with this unit for a total of 3600 square feet. The property is located in Old Saybrook, CT.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Donovan & Donovan Attorney Executive Real Estate Real Estate Agency Sarette Home Builders Custom Home Builder Southeastern Connecticut Medical ... Medical Center Seaside CoWork Suites Coworking Space

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Old Saybrook
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.385847
    Latitude
    41.295472

    Nearby Similar for Sale

    • $139,000
      1,200 SF

      Updated Office Space For Sale

      Updated office space with two levels and ample parking.
      123 Elm St, Old Saybrook, CT 06475
      View Details
    • $499,900

      Turn-Key Restaurant Opportunity For Sale

      Established restaurant and bar in Old Saybrook, Connecticut for sale.
      254 Main St, Old Saybrook, CT 06475
      View Details
    • $650,000
      5,580 SF

      Old Saybrook Mixed-Use Property

      Revamped mixed-use property with residential and commercial spaces.
      725 Boston Post Rd, Old Saybrook, CT 06475
      View Details
    • $114,000
      1,200 SF

      Updated Office Space For Sale

      Clean, updated office space in a convenient, private location.
      123 Elm St, Old Saybrook, CT 06475
      View Details
    • $1,900,000
      31,414 SF

      Industrial Property with Flexible Space

      Well-maintained industrial property with warehouse and office space for sale.
      55 Research Pkwy, Old Saybrook, CT 06475
      View Details
    • $899,900

      Old Saybrook Specialty Property

      Specialty property available for sale in Old Saybrook, CT.
      7 Sharon Ln, Old Saybrook, CT 06475
      View Details
    • $649,900

      Residential Income Property For Sale

      Residential income property available for purchase.
      46 Maple Ave, Old Saybrook, CT 06475
      View Details
    • $699,900

      Ayers Point Road Property

      Property at 117 Ayers Point Rd, Old Saybrook, CT 06475
      117 Ayers Point Rd, Old Saybrook, CT 06475
      View Details
    • $615,000

      Old Saybrook Specialty Property

      Specialty property available for sale in Old Saybrook Center.
      18 Quarry St, Old Saybrook, CT 06475
      View Details
    • $925,000

      Lynde Street Specialty Property

      Specialty property available for sale in Old Saybrook Center.
      19 Lynde St, Old Saybrook, CT 06475
      View Details
    • $1,360,000

      Elm Street Specialty Property

      Specialty property available for sale in Old Saybrook Center.
      93 Elm St, Old Saybrook, CT 06475
      View Details
    • $1,045,000

      Seabreeze Road Specialty Property

      Specialty property available for sale in Old Saybrook, CT.
      24 Seabreeze Rd, Old Saybrook, CT 06475
      View Details

    FAQs

    What type of property is this?
    Office space - Updated office space with off-street parking in Old Saybrook.
    Where is this office space located?
    The property is located at 123 Elm St Old Saybrook, CT.
    What is the asking price?
    The asking price for this property is $114,000.
    What are key features of this property?
    This property features: - Updated 1,200 sq ft office space on the first floor.; - Brand-new flooring throughout.; - Convenient location near the center of town with added privacy.
    (617) 645-4392
    Request Owner's contact information
    123 Elm St Old Saybrook, CT 06475
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    123 Elm St
    Old Saybrook, CT 06475
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    123 Elm St Old Saybrook, CT 06475
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Susan Malan
    Real Estate License ID: REB.0794430
    (617) 645-4392
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.