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    Bethel Manufacturing Space Available Title is generated by Realmo AI

    159 Grassy Plain Street, Bethel, CT 06801

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    For Lease
    $12 SF/Yr $17,500/Mo (calc)

    17,500 SF manufacturing space with office, available October 2025.

    Type:Commercial
    Property size:
    17,500 SF
    Lot size:
    3.00 Acres
    Added:
    Dec 28, 2024
    Days on Market:
    524
    Last Refresh:
    May 11 at 1:07 am

    Property Features for 159 Grassy Plain Street

    General Information

    Standard status
    Active
    Size
    17,500 SF
    Lot size
    3.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1984

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    Listing Contact
    MICHAEL STRUNA

    Listing agent MICHAEL STRUNA

    Listing office Advantage Realty, Inc.

    Listing date Dec 28, 2024

    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 Advantage Realty, Inc.

    HighLights

    • 17,500 SF industrial manufacturing facility with 2,500 SF office space available for lease at $11.50/SF gross or for sale at $3,250,000.
    • Clean environmental report with completed Phases I, II, and III.
    • Heavy power (2,000 amps) and recent tenant improvements including LED lighting, kitchenette, electrical and air line drops, and hi‑bay racking.
    • IP (Industrial Park) zoning allows for a wide range of industrial uses.
    • Excellent condition with updates in 2000.
    • Features include 1 exterior truck well, 2 drive‑in doors, 17‑foot ceiling height, gas heat, wet sprinkler system, and 85 parking spaces.

    Overview

    The property at 159 Grassy Plain Street, Bethel, CT, features 17,500 square feet of manufacturing space, including approximately 2,500 square feet of office space. The space will be available for occupancy starting October 1, 2025. Zoned IP (Industrial Park), the property allows for a wide range of industrial uses. Constructed of metal with a light pre-engineered steel frame, the building was built in 1984 and updated in 2000. It features a 17-foot ceiling height, one exterior truck well, and two drive-in doors. The property is equipped with heavy power at 2,000 amps, a wet sprinkler system, and gas heat. There are 85 surface parking spaces, with a ratio of 2.42 per 1,000 square feet. Utilities include natural gas, municipal water, and sewer. Recent tenant improvements include LED lighting throughout the factory and hi-bay storage area, a newly installed kitchenette area, 115V and 220V electrical drops throughout the factory, new sub-panels for the factory, a direct feed for the new compressor, air line drops throughout the factory, hi-bay racking, dock spotting light, and a dumpster enclosure. The property is in excellent condition and has a clean environmental report, with documented phases I, II, and III completed and available for review. The lease rate is $11.50 per square foot, gross, with estimated operating expenses of $2.75 per square foot. The property sits on a 3.00-acre land area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Handler Manufacturing, LLC Industrial Manufacturer Closets by Design ... General Contractor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bethel
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4224
    Latitude
    41.3618

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    FAQs

    What type of property is this?
    Manufacturing property - 17,500 SF manufacturing space with office, available October 2025.
    Where is this manufacturing property located?
    The property is located at 159 Grassy Plain Street Bethel, CT.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 17,500 SF industrial manufacturing facility with **2,500 SF office space available for lease at $11.50/SF gross or for sale at $3,250,000.**; Clean environmental report with completed Phases I, II, and III.; **Heavy power (2,000 amps)** and recent tenant improvements including LED lighting, kitchenette, electrical and air line drops, and hi‑bay racking.
    (203) 798-9345
    We can help!
    Listing Contact
    MICHAEL STRUNA
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    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.

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