Add Listing
    For Lease
    • 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

    98 Washington Street Middletown, CT 06457

    View on Map
    For Lease
    $1,550 /Mo

    COMMERCIAL - Middletown, CT

    Property size:
    1,100 SF
    Lot size:
    0.19 Acres
    Added:
    Jan 24, 2025
    Days on Market:
    432
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 98 Washington Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    MX
    Exterior features
    Awnings,Gutters,Lighting,Pole Sign
    Standard status
    Active
    Size
    1,100 SF
    Lot size
    0.19 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Scott Nardozzi

    Listing agent Scott Nardozzi License #RES.0799545

    Listing office Cavanaugh & Company LLC 98 Washington Street, Middletown, CT

    Listing date Jan 24, 2025

    MLS# 24070627

    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

    Downtown Middletown Office Space Available

    This commercial office space is available for lease in downtown Middletown, Connecticut. Located at the corner of Main and Washington Streets, the property benefits from its location at a major intersection. The 1,100 square foot office suite is situated on the second floor of a handicap accessible building. The layout includes a reception area, a conference room, a storage room, and three private offices. A notable feature is the on-site parking, a rarity for downtown Middletown. The property is zoned MX and the lot size is 0.19 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Film Posse, Inc. Film Production Cavanaugh & Co LLC Real Estate Agency Sanditz Travel Management Travel Agency Sandler & Hansen LLC Law Firm Gersten Steven P ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.650827
    Latitude
    41.562448

    Nearby Similar for Lease

    • Contact for pricing

      Updated Office Space Available Now

      Versatile 855 SF office space for immediate occupancy.
      670 Newfield Street unit: C, Middletown, CT 06457
      View Details
    • Contact for pricing

      Middletown Office Space for Lease

      Well-lit office spaces in the heart of Middletown available for rent.
      46 Washington Street, Middletown, CT 06457
      View Details
    • Contact for pricing

      Updated Retail Space in Middletown

      Recently updated 1,200 SF retail space for lease.
      650 S Main Street, Middletown, CT 06457
      View Details
    • Contact for pricing

      Adaptable Office Space on Newfield

      Converted office space with flexible design and ample parking.
      609 Newfield Street, Middletown, CT 06457
      View Details
    • $1.00/mo

      Professional Office Space Sublease

      Turnkey office space in a prime central Connecticut location.
      292 Main St, Middletown, CT 06457
      View Details
    • Contact for pricing

      Downtown Middletown Office with Parking

      Office space for lease in downtown Middletown with on-site parking.
      98 Washington Street unit: 201, Middletown, CT 06457
      View Details
    • $17/mo

      Retail/Office Space on State Route

      Prime retail/office space available now on State Route 17.
      701 SOUTH MAIN St, Middletown, CT 06457
      View Details
    • Contact for pricing

      Middletown Office Space For Rent

      Well-lit office spaces in central Middletown, flexible lease terms.
      46 Washington Street, Middletown, CT 06457
      View Details
    • Sponsored
      Contact for pricing

      CT, Middletown - Main Street

      366-386 And, Unit 5TH, Middletown, CT 06457
      View Details
    • Contact for pricing

      Updated Duplex Near Downtown Middletown

      Charming, updated duplex unit near downtown and Wesleyan University.
      94 Liberty St, Middletown, CT 06457
      View Details
    • Contact for pricing

      Reimagined Four-Unit Residence

      Modern four-unit residence with high-end finishes and on-site parking.
      141 Bridge St B, Middletown, CT 06457
      View Details
    • Contact for pricing

      Renovated Apartment Near Wesleyan University

      Completely renovated 2-bedroom apartment for rent near downtown.
      31 Loveland St, Middletown, CT 06457
      View Details

    FAQs

    What type of property is this?
    Office units - Handicap accessible office space for lease in downtown Middletown.
    Where is this office units located?
    The property is located at 98 Washington Street Middletown, CT.
    What is the lease rate?
    The lease rate is $1,550 /Mo.
    What are key features of this property?
    This property features: On‑site parking - a rarity in Middletown; Prime downtown location at the corner of Main and Washington Streets; Handicap accessible building
    (860) 306-3259
    We can help!
    Listing Contact
    Scott Nardozzi
    Real Estate License ID: RES.0799545
    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!