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

    31 Cherry St Milford, CT 06460

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $850 /Mo ($68 SF/Yr)

    Lower level office space near town offices and train station.

    Property size:
    150 SF
    Lot size:
    0.96 Acres

    Property Features for 31 Cherry St

    General Information

    Size
    150 SF
    Lot size
    0.96 Acres

    We can help!

    Listing Contact
    Richard Lombardo
    Richard Lombardo
    Source: Moodyscre

    Listing Agent: Richard Lombardo

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

    Learn more

    Property Insight Report

    Overview

    Small Office Space For Rent

    This is a small lower level office space located in an attractive office building with ample parking. The property benefits from its location, which is within easy walking distance to town offices, the Milford Green, the Metro North train station, restaurants, and shops. The property is also situated on a public bus route. The office space has a size of 150 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    LeaseUp US Real Estate Rental Agency Dorota's Massage Therapy Massage Therapist Annmarie Carson, LMFT Marriage Or Relationship Counselor Holistic Healing Partners, ... Nurse Practitioner Wax Relax Repeat Waxing Hair Removal Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Milford
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.05497
    Latitude
    41.226137

    Nearby Similar for Lease

    • $30 SF/Yr
      2,750 SF

      Restaurant-Ready Space Near Woodmont Beach

      High-visibility restaurant/cafe space steps from Woodmont Beach in Milford, CT.
      27 Village Rd, Milford, CT 06460
      View Details
    • $10 SF/Yr
      4,400 SF

      Modern Office Flex Building

      Two office spaces available in Milford, CT.
      135 Research Dr, Milford, CT 06460
      View Details
    • $1,600 /Mo
      5,463 SF

      Milford Commercial Space For Lease

      Clean commercial space with overhead doors, suitable for various businesses.
      190 Depot Rd, Milford, CT 06460
      View Details
    • $20 SF/Yr
      1,674 SF

      Milford Commercial Space For Rent

      Commercial space in Milford with high visibility and ample parking.
      680 Boston Post Rd, Milford, CT 06460
      View Details
    • $8 SF/Yr
      85,000 SF

      Milford Industrial Space For Lease

      High-quality industrial space with excellent connectivity in Milford, Connecticut.
      80 Wampus Ln, Milford, CT 06460
      View Details
    • Contact for pricing
      68,278 SF

      Retail Center on Bridgeport Avenue

      85,061 SF retail center on Bridgeport Avenue in Milford.
      853 Bridgeport Ave, Milford, CT 06460
      View Details
    • $8 SF/Yr
      28,385 SF

      Industrial Building Near I-95

      28,385 SF industrial building for lease near I-95.
      45 Woodmont Rd, Milford, CT 06460
      View Details
    • Contact for pricing
      100,000 SF

      PENT PARK Office Space Available

      Prime Office Park, 100,000 SF Total
      0 Wheelers Farm Rd, Milford, CT 06460
      View Details
    • $30 SF/Yr

      Prime Commercial Space on Milford Green

      Bright, flexible space ideal for retail, office, or studio.
      4 Broad St, Milford, CT 06460
      View Details
    • $22 SF/Yr
      27,025 SF

      Prime Milford Office Space

      Modern Office Suites, Excellent Location
      670 Boston Post Rd, Milford, CT 06460
      View Details
    • $2,000 /Mo
      1,600 SF

      Milford Commercial Space For Lease

      1600 SF office or retail space available in Milford, CT.
      990 Bridgeport Ave, Milford, CT 06460
      View Details
    • $2,300 /Mo
      1,976 SF

      Milford Beach Retreat Rental

      Charming two-bedroom apartment near Walnut Beach and Silver Sands State Park.
      8 York St, Milford, CT 06460
      View Details

    FAQs

    What type of property is this?
    Office space - Lower level office space near town offices and train station.
    Where is this office space located?
    The property is located at 31 Cherry St Milford, CT.
    What is the lease rate?
    The lease rate is $68 SF/Yr.
    What are key features of this property?
    This property features: - Great location: Easy walking distance to town offices, Milford Green, Metro North train station, restaurants, and shops.; - Ample parking.; - Attractive office building.
    (203) 494-4817
    Request Owner's contact information
    31 Cherry St Milford, CT 06460
    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.
    31 Cherry St
    Milford, CT 06460
    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
    31 Cherry St Milford, CT 06460
    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
    Richard Lombardo
    Richard Lombardo
    (203) 494-4817
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.