Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Historic Office Space in New Britain Title is generated by Realmo AI

    114 West Main Street #Ste 102, New Britain, CT 06051

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,899/Mo $14 SF/Yr (calc)

    Updated office space in a historic downtown New Britain building.

    Type:Commercial
    Property size:
    2,338 SF
    Lot size:
    0.90 Acres
    Added:
    May 6, 2025
    Days on Market:
    374
    Last Refresh:
    Apr 5 at 8:08 pm

    Property Features for 114 West Main Street #Ste 102

    General Information

    Standard status
    Active
    Size
    2,338 SF
    Lot size
    0.90 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    KARLYN CYR
    KARLYN CYR

    Listing agent KARLYN CYR License #RES.0804144

    Listing office Berkshire Hathaway NE Prop.

    Listing date May 6, 2025

    Source Corcoran

    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 Berkshire Hathaway NE Prop.

    HighLights

    • Historic neoclassical building, originally New Britain's post office (1910‑1979).
    • Prime Downtown New Britain location with excellent walkability.
    • Easy access to public transportation.
    • Recent upgrades to common areas and restrooms.
    • Ample parking: 70 spaces plus 2 EV spaces.
    • Internet access ready in all units.

    Overview

    Located at 114 West Main Street in downtown New Britain, this first-floor unit is situated in a building with historical significance, having served as the city's post office from 1910 to 1979. The neoclassical building has been updated to combine historic charm with modern functionality. The property offers convenient walkability and access to public transportation. Recent upgrades have been made to common areas and restrooms. The property includes 70 parking spaces and 2 EV spaces. Internet access is available in all units, requiring tenants to establish an account with a provider. Lease terms include a minimum of 1 year for smaller spaces and 3-5 years for the larger space. The unit has a size of 2338 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Westgate Plumbing Services Plumbing Service Safe Passages, LLC Crisis Center FedEx Drop Box Postal Service ecrimecheck Government Office Representative C Murphy State Government Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7846
    Latitude
    41.6669

    Nearby Similar for Lease

    • $6,000/Mo

      Remodeled Commercial Property in New Britain

      Versatile office spaces in historic New Britain business district.
      25 Court St, New Britain, CT 06051
      View Details
    • Contact for pricing

      Versatile Industrial Space For Lease

      6,598 SF industrial space with showroom and office areas.
      21 Pleasant St, New Britain, CT 06051
      View Details
    • Sponsored
      Contact for pricing

      CT, New Britain - Liberty Square

      1 Liberty Sq, Unit 301, New Britain, CT 06052
      View Details
    • $1,650/Mo

      Modern 2-Bedroom Apartment in New Britain

      Remodeled apartment near CCSU with modern amenities and convenient location.
      98 Carlton St 101, New Britain, CT 06053
      View Details
    • $9 SF/Yr

      New Britain Flex Space Available

      26,752 SF flex space for lease in New Britain.
      255 Myrtle Street, New Britain, CT, 06053
      View Details
    • $1,350/Mo

      Spacious Apartment with Private Entrance

      Downstairs apartment near major routes, shopping, and hospital.
      2015 Corbin Ave 7, New Britain, CT 06053
      View Details
    • $1,550/Mo

      Updated Two-Bedroom Apartment For Rent

      Modern, updated 2-bedroom apartment with parking and enclosed porch.
      396 W Main St 3, New Britain, CT 06052
      View Details
    • Contact for pricing

      Renovated Two Bedroom Apartment

      First-floor, two-bedroom apartment with modern updates and garage.
      73 Brooklawn St 1, New Britain, CT 06052
      View Details
    • $2,600/Mo

      Remodeled Unit in Quiet Neighborhood

      Spacious 4-5 bedroom unit with modern amenities and large backyard.
      113 FAIRVIEW St 2, New Britain, CT 06051
      View Details
    • $1,550/Mo

      Updated Apartment with Off-Street Parking

      Updated third-floor apartment with parking and laminate flooring.
      1310 Stanley St 3rd floor, New Britain, CT 06052
      View Details
    • $1,700/Mo

      Updated Two-Bedroom Apartment For Rent

      First-floor, updated 2-bedroom apartment with in-unit laundry.
      37 Wakefield Ct 1, New Britain, CT 06053
      View Details
    • $2,000/Mo

      Spacious Remodeled Unit For Rent

      Remodeled 3 bed, 1 bath unit with updated kitchen.
      70 Monroe St 3, New Britain, CT 06051
      View Details

    FAQs

    What type of property is this?
    Office units - Updated office space in a historic downtown New Britain building.
    Where is this office units located?
    The property is located at 114 West Main Street #Ste 102 New Britain, CT.
    What is the lease rate?
    The lease rate is $2,899 /Mo.
    What are key features of this property?
    This property features: Historic neoclassical building, originally New Britain's post office (1910‑1979).; Prime Downtown New Britain location with excellent walkability.; Easy access to public transportation.
    (860) 521-8100
    We can help!
    Listing Contact
    KARLYN CYR
    KARLYN CYR
    Real Estate License ID: RES.0804144
    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

    Thank You for Inquiry
    114 West Main Street #Ste 102, New Britain, CT 06051
    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!