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

    173-177 Prospect St Torrington, CT 06790

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,200 /Mo ($24 SF/Yr)

    Downtown Torrington office space for professional use, private parking.

    Property size:
    600 SF
    Lot size:
    0.53 Acres

    Property Features for 173-177 Prospect St

    General Information

    Size
    600 SF
    Lot size
    0.53 Acres

    We can help!

    Listing Contact
    Mario Longobucco
    Mario Longobucco
    Source: Moodyscre

    Listing Agent: Mario Longobucco

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

    Learn more

    Overview

    Downtown Torrington Office Space Available

    This downtown Torrington office space offers private parking and street visibility. The property is suitable for an attorney, accountant, realtor, therapist, or other professional use. The lease is modified gross, with the tenant responsible for their share of all utilities and any increase in real estate taxes. The space is 600 square feet.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Torrington
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.123662
    Latitude
    41.800956

    Nearby Similar for Lease

    • $5,000 /Mo
      5,900 SF

      Medical Office Building For Lease

      Meticulously maintained medical office building near hospital in downtown Torrington.
      95 New Litchfield St, Torrington, CT 06790
      View Details
    • $1,500 /Mo

      Spacious Two Bedroom Apartment Rental

      Charming ground floor apartment with garage and modern amenities.
      123 Calhoun St, Torrington, CT 06790
      View Details
    • $1,500 /Mo

      Spacious Apartment Near Downtown

      Two-bedroom apartment with modern amenities, close to downtown.
      68 Cooper St, Torrington, CT 06790
      View Details
    • $1,650 /Mo

      Spacious Apartment with Large Yard

      Bright 2-bedroom apartment with yard, near downtown and hospital.
      80 Blake St, Torrington, CT 06790
      View Details
    • $2,200 /Mo

      Prime Retail Space Available

      High-visibility storefront in a busy downtown area, ready for your business.
      38 East Main St, Torrington, CT 06790
      View Details
    • $2,000 /Mo

      Spacious Four-Bedroom Apartment For Rent

      Recently renovated four-bedroom apartment with modern finishes and ample storage.
      64 Lincoln Ave, Torrington, CT 06790
      View Details
    • $1,415 /Mo

      Luxury Apartment in Downtown Torrington

      New 1-bedroom apartment with modern amenities, available September 1st.
      120 E Main St, Torrington, CT 06790
      View Details
    • $2,000 /Mo

      Spacious Duplex Style Rental

      Well-maintained 3-bedroom duplex near downtown, available Nov. 1, 2025.
      292 Brightwood Ave, Torrington, CT 06790
      View Details
    • $1,300 /Mo

      Spacious Two-Bedroom Apartment in Torrington

      Charming apartment with hardwood floors and ample natural light.
      62 Lincoln Ave, Torrington, CT 06790
      View Details
    • Contact for pricing
      37,800 SF

      Warehouse Space in Torrington, CT

      37,800 SF Industrial Space Available
      299 Industrial Ln, Torrington, CT 06790
      View Details
    • Contact for pricing
      96,864 SF

      Torrington Medical Office Space

      Prime Medical Office Suites Available Now
      681 Main St, Torrington, CT 06790
      View Details
    • $1,700 /Mo

      Renovated 3-Bedroom Unit For Rent

      Newly renovated 3-bedroom unit with garage space available.
      40 Mortimer St, Torrington, CT 06790
      View Details

    FAQs

    What type of property is this?
    Office space - Downtown Torrington office space for professional use, private parking.
    Where is this office space located?
    The property is located at 173-177 Prospect St Torrington, CT.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: - Downtown Torrington office space.; - Private parking.; - Great visibility from the street.
    (860) 307-5945
    Request Owner's contact information
    173-177 Prospect St Torrington, CT 06790
    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.
    173-177 Prospect St
    Torrington, CT 06790
    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
    173-177 Prospect St Torrington, CT 06790
    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
    Mario Longobucco
    Mario Longobucco
    (860) 307-5945
    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.