Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Mill Retail and Office Title is generated by Realmo AI

    11 Main Street #1, Stonington, CT 06355

    View on Map
    Claim this Listing
    For Lease
    $550/Mo $47 SF/Yr (calc)

    Charming retail and office spaces in historic Mystic Mill.

    Property size:
    140 SF
    Added:
    Dec 12, 2024
    Days on Market:
    533
    Last Refresh:
    Mar 16 at 9:08 am

    Property Features for 11 Main Street #1

    General Information

    Standard status
    Active
    Size
    140 SF

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    MANTAS LAURECKIS

    Listing agent MANTAS LAURECKIS License #RES.0806337

    Listing office William Raveis Real Estate

    Listing date Dec 12, 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 William Raveis Real Estate

    HighLights

    • Prime location in desirable Mystic, CT.
    • Historic charm and character.
    • Excellent visibility and convenient access.
    • Retail spaces available at $22/sqft.
    • Office spaces starting at $550/month, including utilities.
    • Suitable for retail and office tenants.

    Overview

    Available for lease, the historic Old Mystic Mill commercial building in Mystic, CT, offers a combination of charm and functionality. This preserved property is suitable for retail and office tenants. The building is positioned for businesses seeking a location in this community. Retail spaces are offered at $22 per square foot, suited for boutique shops, specialty retailers, or service-based businesses aiming to benefit from the building's historic appeal and foot traffic. Office spaces start at $550 per month, including utilities, making them suitable for small businesses, startups, or independent professionals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Accounting Firm Skin Care Clinic Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Stonington
    County
    New London
    State
    Connecticut
    Longitude
    -71.9054
    Latitude
    41.3317

    Nearby Similar for Lease

    • $1,650/Mo
      300 SF

      Charming Retail Space in Stonington

      Retail or professional space in historic Stonington Borough.
      14 Church Street, Stonington, CT 06378
      View Details
    • $550/Mo
      100 SF

      Furnished Office Suite in Stonington

      Furnished office suite available for immediate occupancy in Stonington.
      232 Greenmanville Avenue, Stonington, CT 06355
      View Details
    • $1,250/Mo
      6,400 SF

      Stonington Office Space For Lease

      Office suite in high-traffic location near Mystic Golden Triangle.
      232 Greenmanville Avenue, Stonington, CT 06355
      View Details
    • $800/Mo
      215 SF

      Renovated Corner Office Space Available

      Private corner office in Pawcatuck with shared amenities for rent.
      158 S Broad St 3C, Stonington, CT 06379
      View Details
    • $2,500/Mo
      1,500 SF

      Customizable Retail Space on Route 1

      High-visibility commercial space with buildout allowance and flexible lease terms.
      158 South Broad Street #A, Stonington, CT 06379
      View Details
    • $1,500/Mo
      1,300 SF

      Newly Renovated Shared Office Space

      High-exposure, shared office space available for immediate occupancy.
      158 South Broad Street #3B, Stonington, CT 06379
      View Details
    • $800/Mo
      215 SF

      Corner Office Space Available

      Private corner office in renovated shared space for lease.
      158 South Broad Street #3C, Stonington, CT 06379
      View Details
    • $600/Mo
      300 SF

      Office Space with Skylight

      Office space near downtown Mystic and Pawcatuck/Westerly.
      530 Stonington Road #204, Stonington, CT 06378
      View Details
    • $1,650/Mo
      300 SF

      Charming Retail/Office Space in Stonington

      Retail or office space in historic Stonington Borough.
      14 Church Street, Stonington, CT 06378
      View Details
    • $2,700/Mo
      3,000 SF

      Stonington Warehouse with Overhead Doors

      3,000 SF warehouse with large overhead doors for lease.
      46 Taugwonk Spur Road, Stonington, CT 06378
      View Details
    • $795/Mo
      398 SF

      Office Space in Mystic

      Bright office space in a premium Mystic location.
      14 Masons Island Road #3, Stonington, CT 06355
      View Details
    • $2,040/Mo
      1,020 SF

      Retail Space in Stonington

      Retail space available for lease in Stonington, Connecticut.
      80 Stonington Road #A3, Stonington, CT 06355
      View Details

    FAQs

    What type of property is this?
    Office units - Charming retail and office spaces in historic Mystic Mill.
    Where is this office units located?
    The property is located at 11 Main Street #1 Stonington, CT.
    What is the lease rate?
    The lease rate is $550 /Mo.
    What are key features of this property?
    This property features: Prime location in desirable Mystic, CT.; Historic charm and character.; Excellent visibility and convenient access.
    (860) 739-4455
    We can help!
    Listing Contact
    MANTAS LAURECKIS
    Real Estate License ID: RES.0806337
    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
    11 Main Street #1, Stonington, CT 06355
    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!