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    186 East Center St Manchester, CT 06040

    Sponsored
    For Sale
    $395,000

    COMMERCIAL - Manchester, CT

    Property size:
    2,476 SF
    Lot size:
    0.39 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 1 at 11:06 pm

    Property Features for 186 East Center St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security System
    Zoning
    RC
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3
    Bathrooms
    3
    Parking
    16
    Interior features
    Security System
    Exterior features
    Sidewalk,Lighting,Pole Sign
    Size
    2,476 SF
    Lot size
    0.39 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Hot Water(Heating), Zoned
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    2

    We can help!

    Listing Contact
    Daniel Wilson

    The Wilson Company of CT,Realtors (860) 643-1108

    Listing agent Daniel Wilson (860) 643-1108

    Listing date Mar 2, 2026

    MLS# 24155684

    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

    Mixed-Use Property in Business Area

    This mixed-use property, featuring both office and apartment spaces, is situated in a prime business area. The building has been upgraded with replacement windows, laminate flooring, and updated wall finishes. The office space is move-in ready, offering large, open areas alongside private offices. A large parking lot at the rear provides 16 parking spaces, with additional spillover parking available on East Center Street. The property includes both front and back entrances. The office space is equipped with two half bathrooms, and the first floor is cooled by wall units. The refinished three-bedroom apartment features laminate floors, a partially remodeled full bathroom, and repainted walls, along with attic storage. Located close to Downtown Manchester, the property is near banks, restaurants, Town Hall, and various shops, with convenient access to I-384. This property presents an opportunity for businesses looking to own their location and build equity. The lot size is 0.39 acres, and the property size is 2476 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Academy of Connecticut Real ... Vocational School Tri-County Alliance of Realtors Charitable Organization

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5150805
    Latitude
    41.7767608

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    FAQs

    What type of property is this?
    Mixed-use property - Office and apartment property in an excellent business area.
    Where is this mixed-use property located?
    The property is located at 186 East Center St Manchester, CT.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: - Excellent business area location close to Downtown Manchester, banks, restaurants, Town Hall and shops.; - Move-in ready office space with large, open areas and private offices.; - Refinished 3-bedroom apartment with attic storage.
    (860) 977-5598
    Request Owner's contact information
    186 East Center St Manchester, CT 06040
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    Manchester, CT 06040
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    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
    186 East Center St Manchester, CT 06040
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    We can help!
    Listing Contact
    Daniel Wilson
    Real Estate License ID: REB.0756557
    (860) 977-5598 (860) 643-1108
    Learn more
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