Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    114 West Main St, Unit 102 New Britain, CT 06051

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,899 /Mo ($14 SF/Yr)

    Updated office space in a historic downtown New Britain building.

    Property size:
    2,338 SF
    Lot size:
    0.90 Acres

    Property Features for 114 West Main St

    General Information

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

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Karlyn Cyr
    Karlyn Cyr
    Source: Corcoran

    Listing Agent: Karlyn Cyr

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

    Learn more

    Property Insight Report

    Overview

    Historic Office Space in New Britain

    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
    -72.7845651
    Latitude
    41.6668682

    Nearby Similar for Lease

    • New
      $2,500 /Mo
      2,000 SF

      New Britain Storefront Opportunity

      Prime 2,000 sq ft storefront in high-traffic area.
      425 Osgood Ave, New Britain, CT 06053
      View Details
    • $3,950 /Mo
      34,046 SF

      Versatile Industrial Unit Available 2025

      7,750 SF unit ideal for commercial or light industrial uses.
      155 John Downey Dr, New Britain, CT 06051
      View Details
    • $2,995 /Mo
      2,268 SF

      Remodeled Colonial Office Space Available

      Meticulously remodeled colonial office space near downtown New Britain.
      889 West Main St, New Britain, CT 06053
      View Details
    • $2,000 /Mo

      Renovated 3-Bedroom Apartment for Rent

      Completely renovated 3-bedroom, 1-bath apartment with modern amenities.
      185 Maple St, New Britain, CT 06051
      View Details
    • $2,200 /Mo

      Spacious Apartment with Modern Amenities

      Move-in ready apartment near shopping, highways, and UConn Health.
      178 Oakland Ave, New Britain, CT 06053
      View Details
    • $1,550 /Mo

      Updated 2-Bedroom Rental

      Spacious, updated 2-bedroom rental with modern amenities and convenient location.
      465 Burritt St, New Britain, CT 06053
      View Details
    • $2,200 /Mo

      Remodeled Three-Family Home

      Completely remodeled 3-bedroom unit with modern updates.
      279 Linwood St, New Britain, CT 06052
      View Details
    • $1,990 /Mo

      Spacious Apartment in Quiet Neighborhood

      Inviting 3-bedroom apartment with modern amenities in New Britain.
      985 Slater Rd, New Britain, CT 06053
      View Details
    • $1,450 /Mo

      First-Floor Apartment with Backyard

      Bright, spacious apartment with a large, secluded backyard.
      223 Lawlor St, New Britain, CT 06051
      View Details
    • Contact for pricing
      400 SF

      Historic Office Space For Rent

      Updated office space in a historic downtown New Britain building.
      114 West Main St, New Britain, CT 06051
      View Details
    • Contact for pricing
      3,228 SF

      Historic Office Space in New Britain

      Updated office space in a historic downtown New Britain building.
      114 West Main St, New Britain, CT 06051
      View Details
    • $2,500 /Mo

      New Construction Rental with Garage

      Spacious, well-maintained rental with modern amenities and convenient location.
      92 Vine St, New Britain, CT 06052
      View Details

    FAQs

    What type of property is this?
    Office space - Updated office space in a historic downtown New Britain building.
    Where is this office space located?
    The property is located at 114 West Main St, Unit 102 New Britain, CT.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    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) 919-0709
    Request Owner's contact information
    114 West Main St, Unit 102 New Britain, CT 06051
    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.
    114 West Main St, Unit 102
    New Britain, CT 06051
    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
    114 West Main St, Unit 102 New Britain, CT 06051
    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

    We can help!
    Listing Contact
    Karlyn Cyr
    Karlyn Cyr
    Real Estate License ID: RES.0804144
    (860) 919-0709 (860) 582-0884 (860) 521-8100
    Learn more
    Google sign-in failed. Please try again or use another login method.