Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Office Building Near Hospital Title is generated by Realmo AI

    103 S Main St, Middletown, CT

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Early 19th-century office conversion near Middlesex Hospital.

    Type:OFFICE
    Property size:
    4,455 SF
    Lot size:
    0.37 Acres
    Price / SF:
    $145/SF
    Added:
    Jul 23, 2025
    Days on Market:
    304
    Last Refresh:
    Apr 5 at 10:49 pm

    Property Features for 103 S Main St

    General Information

    Standard status
    Active
    Size
    4,455 SF
    Lot size
    0.37 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Brendan Kelly
    Brendan Kelly

    Listing agent Brendan Kelly License #REB-0795159

    Listing office Harding Development Group

    Listing date Jul 23, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Harding Development Group

    HighLights

    • Prime location across from Middlesex Hospital campus
    • Flexible zoning allows for continued office use or multifamily redevelopment
    • Substantial size: Approximately 4,455sf on 3 floors with a full basement
    • Ample parking: Between 15 & 20 parking spaces plus a detached 2‑car garage
    • Suitable for medical practices or related businesses
    • Classic architectural design

    Overview

    Located at 103 South Main St in Middletown, this early 19th-century home has been converted into an office building and is now for sale. Situated across from the Middlesex Hospital campus, the property's zoning permits continued office use or multifamily redevelopment. The building was most recently used as a behavioral health clinic, making it suitable for private practices that collaborate with the hospital. The property features a detached two-car garage and provides between 15 and 20 parking spaces. The building has approximately 4,455 square feet of space across three floors, with a full basement suitable for storage and laundry. Its classic architectural design is intended to appeal to clients or tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Daniels Kimberly M Physician Samantha Dippolino Physician Susan Meunier Physician Leake Nancy S Physician Tsukada Richard K Foster Care Service

    Suggested Use

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

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

    Similar Places Nearby

    • Pieper Veterinary Berlin Street — 150 Berlin St, Middletown, CT 06457

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6497
    Latitude
    41.5533

    Nearby Similar for Sale

    • $475,000
      4,956 SF

      Middletown Commercial Office Building For Sale

      Well-maintained office building in a highly visible, accessible location.
      737 Newfield Street, Middletown, CT 06457
      View Details
    • $330,000
      1,470 SF

      Two-Family Home in Central Connecticut

      Charming two-family home near Middlesex Health and Wesleyan University.
      31 Burr Avenue, Middletown, CT 06457
      View Details
    • $1,400,000
      27,090 SF

      Middletown Industrial Facility For Sale

      27,000 SF industrial facility with I-91 access.
      35 Industrial Park Place, Middletown, CT 06457
      View Details
    • $699,609
      1,500 SF

      Adaptable Commercial Space on Newfield

      Converted office space with high visibility and flexible design.
      609 Newfield St, Middletown, CT 06457
      View Details
    • $399,900
      1,482 SF

      Retail Building on Main Street

      1482 SF retail building in high-traffic Middletown location.
      346 Main Street, Middletown, CT 06457
      View Details
    • $724,900

      Industrial-Office Condo Near I-91

      Versatile industrial-office condo with excellent access and flexible layout.
      362 Industrial Park Rd STE 3, Middletown, CT 06457
      View Details
    • $895,000

      Commercial Retail Building For Sale

      Commercial retail building on Route 17 in Middletown, CT.
      695 South Main St, Middletown, CT 06457
      View Details
    • $699,609
      2,028 SF

      Adaptable Commercial Space on Newfield Street

      Versatile commercial property with high visibility and flexible usage options.
      609 Newfield Street, Middletown, CT 06457
      View Details
    • $1,800,000
      8,390 SF

      Profitable Medical/Office Investment Opportunity

      Meticulously maintained medical/office properties with immediate cash flow.
      51-57 South Main Street, Middletown, CT 06457
      View Details
    • $329,000
      1,818 SF

      Spacious Home in Prime Location

      Versatile home near Wesleyan University and downtown Middletown.
      207 Pearl Street, Middletown, CT 06457
      View Details
    • $1,800,000

      Profitable Medical/Office Investment Opportunity

      Two meticulously maintained properties with immediate cash flow potential.
      51-57 S Main St, Middletown, CT 06457
      View Details
    • $895,000
      10,459 SF

      Commercial Retail Building For Sale

      Commercial retail building on busy route 17, development opportunity.
      695 South Main Street, Middletown, CT 06457
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Early 19th-century office conversion near Middlesex Hospital.
    Where is this medical office space located?
    The property is located at 103 S Main St Middletown, CT.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Prime location across from Middlesex Hospital campus; Flexible zoning allows for continued office use or multifamily redevelopment; Substantial size: Approximately 4,455sf on 3 floors with a full basement
    (860) 463-3326 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brendan Kelly
    Brendan Kelly
    Real Estate License ID: REB-0795159
    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

    Thank You for Inquiry
    103 S Main St, Middletown, CT
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!