Add Listing
    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 Street unit 1200 Old Saybrook, CT 06475

    View on Map
    For Sale
    Under Contract
    $75,000

    COMMERCIAL - Old Saybrook, CT

    Property size:
    900 SF
    Added:
    Feb 24, 2026
    Days on Market:
    36
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 123 Elm Street unit 1200

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-2
    Bathrooms
    1
    Rooms
    Bathroom 1
    Exterior features
    Sidewalk,Gutters,Lighting,Pole Sign
    Standard status
    Active Under Contract
    Size
    900 SF

    Taxes and HOA fees

    TaxYear
    2026
    TaxAnnualAmount
    271

    Utilities

    Sewer type
    Shared Septic
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    2
    Flooring type
    Vinyl

    We can help!

    Listing Contact
    Jay Lafleur

    Listing agent Jay Lafleur

    Listing office William Pitt Sotheby's Int'l 13 Main Street, Stamford, CT

    Listing date Feb 24, 2026

    MLS# 24155283

    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.

    Overview

    Updated Office Space For Sale

    This commercial office space, located in Old Saybrook, Connecticut, offers approximately 900 square feet on the second floor. The unit is bright and professional, featuring a recently installed heating and A/C system (2025) for year-round comfort. The space is well-maintained, thoughtfully updated, and filled with natural light, creating an inviting and productive work environment. The property is situated in a quiet, professional setting and includes on-site parking. It is suitable for professional services, wellness providers, creatives, or other commercial uses seeking a clean, turnkey space in a peaceful atmosphere. The property is zoned B-2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Donovan & Donovan Law Firm Executive Real Estate Real Estate Agency Sarette Home Builders Construction Company Southeastern Connecticut Medical ... Medical Clinic Seaside CoWork Suites Coworking & Hybrid Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    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

    • $225,000
      2,400 SF

      Two-Unit Commercial Office Space

      Two-unit commercial office space for sale in Old Saybrook, CT.
      123 Elm Street unit: 13 & 14, Old Saybrook, CT 06475
      View Details
    • $499,900

      Turn-Key Restaurant Opportunity

      Established restaurant and bar in Old Saybrook for sale.
      254 Main Street, Old Saybrook, CT 06475
      View Details
    • $849,900
      2,616 SF

      Historic Mixed-Use Property For Sale

      Antique property in Old Saybrook with retail and residential spaces.
      323 Main Street, Old Saybrook, CT 06475
      View Details
    • $950,000
      4,256 SF

      Gas Station and Repair Facility

      B-2 Zoned gas station and repair facility for sale.
      621 Boston Post Road, Old Saybrook, CT 06475
      View Details
    • $699,500
      4,157 SF

      High-Visibility Retail/Office Opportunity

      Retail or office space on busy Route 1 near I-95.
      523 Boston Post Road, Old Saybrook, CT 06475
      View Details
    • $850,000
      2,236 SF

      Mixed-Use Investment Property on Route 1

      Mixed-use property with office/retail space and residential apartments.
      1780 Boston Post Road, Old Saybrook, CT 06475
      View Details
    • $499,995

      Mixed-Use Commercial Property Opportunity

      Mixed-use property near Old Saybrook center, ideal for owner-occupancy.
      369 Boston Post Road, Old Saybrook, CT 06475
      View Details
    • $297,500
      2,500 SF

      Established Business For Sale

      Profitable business opportunity with real estate and equipment included.
      851 Middlesex Turnpike, 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
      View Details
    • $499,999
      2,700 SF

      Mixed-Use Commercial Property Opportunity

      Mixed-use property near Old Saybrook center with income potential.
      369 Boston Post Rd, Old Saybrook, CT 06475
      View Details
    • Contact for pricing
      3,547 SF

      Old Saybrook Retail and Medical

      Retail, medical, or bank spaces available in Old Saybrook.
      196 Main St, Old Saybrook, CT 06475
      View Details

    FAQs

    What type of property is this?
    Office units - Turnkey office space with new HVAC in Old Saybrook.
    Where is this office units located?
    The property is located at 123 Elm Street unit 1200 Old Saybrook, CT.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Turnkey, updated 900 sq ft commercial office space.; Recently installed (2025) heating and A/C system.; Abundant natural light creating an inviting work environment.
    (860) 227-0275
    We can help!
    Listing Contact
    Jay Lafleur
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!