Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    74 Park Lane Rd New Milford, CT 06776

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $325,000

    Turnkey office/retail space with additional building suitable for various uses.

    Property size:
    1,297 SF
    Lot size:
    0.21 Acres

    Property Features for 74 Park Lane Rd

    General Information

    Standard status
    Contract
    Size
    1,297 SF
    Lot size
    0.21 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Rich Pomerantz
    Source: Corcoran

    Listing Agency: William Pitt Sotheby's Int'l Listing Agent: Rich Pomerantz

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

    Learn more

    Overview

    Turnkey Office and Retail Space

    This property features a turnkey office space that has been used as a professional office since 1996. Located on the second floor are two office spaces with a half bath. One of the offices includes an additional private room. The main floor comprises a reception area, a conference room, and an additional private office space, with room for more desks if needed. The property is suitable for retail, professional, or other office uses. There is an additional building on the property that was previously used as a frame shop. This building could be used as an art studio, workshop, gym, or for storage. The total property size is 1297 square feet.
    Location Intelligence

    Current Use by Public Records

    Katherine Webster-O’Keefe LLC Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Milford
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.4065977
    Latitude
    41.5992558

    Nearby Similar for Sale

    • New
      $325,000
      Pending

      Turnkey Office and Retail Space

      Commercial property suitable for office, retail, or studio use.
      74 Park Lane Rd, New Milford, CT 06776
      View Details
    • $750,000
      6,547 SF

      New Milford Church and Rectory

      Church with antique rectory house available for sale.
      685 Kent Rd, New Milford, CT 06755
      View Details
    • $62,400
      Pending

      Main Level Office Condo

      Office condo with great exposure and flexible interior.
      56 Danbury Rd, New Milford, CT 06776
      View Details
    • $325,000
      Pending

      Turnkey Office and Studio Space

      Professional office with additional studio/workshop space in New Milford.
      74 Park Lane Rd, New Milford, CT 06776
      View Details
    • $595,000

      Versatile Industrial Condo For Sale

      Industrial condo with offices, warehouse space, and storage.
      50 S End Plz, New Milford, CT 06776
      View Details
    • $450,000
      4,496 SF

      Turn-Key Medical Space Available

      Medical space with rooms, offices, and essential amenities for sale.
      219 Kent Rd, New Milford, CT 06776
      View Details
    • $595,000
      4,518 SF

      Versatile Industrial Condo For Sale

      Industrial condo with offices, bathrooms, kitchenette, and storage.
      50 South End Plz, New Milford, CT 06776
      View Details
    • $269,900
      1,700 SF

      Industrial Condo for Automotive Repair

      1700 SF industrial condo suitable for automotive repair.
      34 Old Route 7 Plz, New Milford, CT 06776
      View Details
    • $630,000

      Well-Maintained Office Building For Sale

      Highly visible office building with investment potential in New Milford.
      315 Litchfield Rd, New Milford, CT 06776
      View Details
    • $2,865,000
      21,150 SF

      New Milford Investment Opportunity

      Prime investment property on the historic New Milford Green.
      43 Main St, New Milford, CT 06776
      View Details
    • $995,000

      Specialty Property For Sale

      Specialty property available for purchase.
      10 Juniper Dr, New Milford, CT 06776
      View Details
    • $1,200,000

      Merryall Road Specialty Property

      Specialty property available for sale on Merryall Road.
      159 Merryall Rd, New Milford, CT 06776
      View Details

    FAQs

    What type of property is this?
    Office units - Turnkey office/retail space with additional building suitable for various uses.
    Where is this office units located?
    The property is located at 74 Park Lane Rd New Milford, CT.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: - Turnkey office space ready for immediate occupancy.; - Versatile main floor layout with reception area, conference room, and private office.; - Additional building suitable for art studio, workshop, gym, or storage.
    (203) 770-1879
    Request Owner's contact information
    74 Park Lane Rd New Milford, CT 06776
    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.
    74 Park Lane Rd
    New Milford, CT 06776
    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
    74 Park Lane Rd New Milford, CT 06776
    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
    Rich Pomerantz
    (203) 770-1879 (860) 868-6600 (860) 868-6920
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!