Flex Industrial
For Sale
$760,000
Pending
193 Pascone Place, Newington, CT 06111
Commercial For Sale, Newington, CT
Property Size5,000 SF
Lot Size0.57 Acres
Days on Market139
Property Features for 193 Pascone Place
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
PD
Bathrooms
2
Half bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
35
Interior features
Handicap Design,Loading - Grade,Public Restrooms,Window Display
Exterior features
Doors - 10-15 ft,Gutters,Outside Storage Area
Accessibility
Accessible Approach with Ramp
Lot features
Dry, Level Lot
Directions
Berlin Turnpike Rt 5&15, at Chili's Grill & Bar, turn onto Pascone Place just past KinderCare.
Standard status
Pending
Size
5,000 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
10561
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Flooring type
Concrete
Additional Structures
Storage
Listing Agency:
Amodio & Co.
(860) 674-8908
Listed By:
Frank Amodio · License #REB.0756053
(860) 674-8908
Added: Apr 16
Changed: Aug 25
Last Checked: Sep 1 at 9:06PM
MLS# 24167845
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.
Investment Insights
Based on property information with market context.
Set on 0.57 acres, this 5,000-square-foot masonry flex facility was built in 1960 and includes open clear-span space at the rear with a finished showroom and office area at the front. A 12-by-12-foot overhead drive-in door, unit heaters, concrete flooring, public restrooms, window display, and accessible ramp entry support a range of commercial operations. The property is zoned PD and has public water and public sewer.
Exterior improvements include approximately 19,500 square feet of asphalt paving, providing on-site areas for parking, loading, truck maneuvering, equipment, and fleet storage. The site has prominent street frontage and is adjacent to Route 5 and Route 15 along the Berlin Turnpike, identified as a north-south commercial corridor carrying approximately 25,000 vehicles per day. An outside storage area, gutters, and grade-level loading further expand the property's functional utility.
Exterior improvements include approximately 19,500 square feet of asphalt paving, providing on-site areas for parking, loading, truck maneuvering, equipment, and fleet storage. The site has prominent street frontage and is adjacent to Route 5 and Route 15 along the Berlin Turnpike, identified as a north-south commercial corridor carrying approximately 25,000 vehicles per day. An outside storage area, gutters, and grade-level loading further expand the property's functional utility.
Key Highlights
- 5,000 SF flex facility on 0.57 acres
- 19,500 sq ft of asphalt paving for parking, loading, and maneuvering
- 12'x12' overhead drive‑in door with grade‑level loading
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,016
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,380,320
$1.4M
Cap Rate 7%
$985,943
$985.9K
Cap Rate 9%
$766,844
$766.8K
Market Conditions
NOI Build-Up for 5,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$85.2K $17.04/SF
− Vacancy
−$4.0K −$0.80/SF
EGI
$81.2K $16.24/SF
− OpEx
−$12.2K −$2.44/SF
NOI
$69.0K $13.80/SF
Area
Hartford, CT
Vacancy
4.70%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,380,320
Cap Rate 7%
$985,943
Cap Rate 9%
$766,844
Alternative Uses
Best Use
Office B
$1.11M
$969.5K – $1.29M
NOI $77,558 @ 7.0% cap · market cap 10.21%
Second Best
Warehouse
$985.9K
$862.7K – $1.15M
NOI $69,016 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,325 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06111, CT
30,536
Population
13,334
Households
2.3
Avg Household Size
45
Median Age
40%
College-Educated
92%
High-School Grad
13.0 sq mi
ZIP Area
2,349
Density / Sq Mi
$98,585
Median Household Income
$54,916
Median Earnings
$1,487
Median Rent
$279,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Masonry facility combines open production space with a finished showroom, offices, and grade-level loading access.
Where is this flex space located?
The property is located at 193 Pascone Place Newington, CT.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 5,000 SF flex facility on 0.57 acres; 19,500 sq ft of asphalt paving for parking, loading, and maneuvering; 12'x12' overhead drive‑in door with grade‑level loading
