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

    38 Centennial Ave Meriden, CT 06451

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,750 /Mo

    Recently remodeled multifamily property with easy access to amenities.

    Lot size:
    0.22 Acres

    Property Features for 38 Centennial Ave

    General Information

    Lot size
    0.22 Acres

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Raymond D. Valenti
    Source: Elliman

    Listing Agent: Raymond D. Valenti

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

    Learn more

    Overview

    Remodeled Multifamily Property For Rent

    This multifamily property is available for rent and has been completely remodeled. The property offers convenient access to highways, shopping areas, and schools.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8221391
    Latitude
    41.5397053

    Nearby Similar for Lease

    • New
      $1,300 /Mo
      850 SF

      Meriden Office Space For Rent

      Commercial office space for rent in Meriden with front-street exposure.
      615 East Main St, Meriden, CT 06450
      View Details
    • New
      $1,200 /Mo
      350 SF

      Meriden Commercial Office Space Available

      Commercial office space for rent in Meriden with front-street exposure.
      615 East Main St, Meriden, CT 06450
      View Details
    • New
      $4,000 /Mo
      3,400 SF

      Prime Retail Space in Meriden

      3400 sq ft retail space in high-traffic Meriden location.
      711 East Main St, Meriden, CT 06450
      View Details
    • $2 SF/Yr
      31,600 SF

      Meriden Mixed-Use Facility Available

      438,000 SF mixed-use facility on 12.63 acres for lease.
      290 Pratt St, Meriden, CT 06450
      View Details
    • $775 /Mo
      600 SF

      Furnished Office Space in Meriden

      Newly renovated, furnished office space in downtown Meriden near train.
      61 Colony St, Meriden, CT 06451
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Shopping Center

      Retail space with high visibility and easy highway access.
      1231 E Main St, Meriden, CT 06450
      View Details
    • New
      $1,200 /Mo
      500 SF

      Meriden Commercial Office Space

      Commercial office space for rent in Meriden with front-street exposure.
      615 East Main St, Meriden, CT 06450
      View Details
    • $7 SF/Yr
      66,409 SF

      Meriden Flex Space Available

      66,409± SF flex space available for lease.
      45 Gracey Ave, Meriden, CT 06451
      View Details
    • $800 /Mo
      800 SF

      Retail/Office Space in Downtown Meriden

      800 sq ft space in Meriden's Transit Development zone.
      28 West Main St, Meriden, CT 06451
      View Details
    • $2,400 /Mo
      2,400 SF

      Downtown Retail/Office Space Available

      2,400 sq.ft. open floorplan retail/office space in downtown Meriden.
      30 West Main St, Meriden, CT 06451
      View Details
    • $4 SF/Yr
      422,000 SF

      Meriden Industrial Space For Lease

      422,000 SF Industrial/Flex Space in CT
      500 Broad St, Meriden, CT 06450
      View Details
    • $11 SF/Yr
      422,000 SF

      Meriden Office Space for Lease

      422,000 SF Office Building, Flexible Suites
      500 Broad St, Meriden, CT 06450
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Recently remodeled multifamily property with easy access to amenities.
    Where is this multifamily property located?
    The property is located at 38 Centennial Ave Meriden, CT.
    What are key features of this property?
    This property features: - Completely remodeled; - Move-in ready; - Easy access to highways
    (203) 238-1977
    Request Owner's contact information
    38 Centennial Ave Meriden, CT 06451
    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.
    38 Centennial Ave
    Meriden, CT 06451
    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
    38 Centennial Ave Meriden, CT 06451
    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
    Raymond D. Valenti
    Real Estate License ID: RES.0695875
    (203) 238-1977
    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.