Add Listing
    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

    123 Elm St, Unit 14 Old Saybrook, CT 06475

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,450 /Mo ($14 SF/Yr)

    Updated office space with new flooring and private restrooms.

    Property size:
    1,200 SF
    Lot size:
    1,200 SF

    Property Features for 123 Elm St

    General Information

    Standard status
    Active
    Size
    1,200 SF

    Building Details

    Year built
    1985

    We can help!

    Listing Contact
    Susan Malan
    Susan Malan
    Source: Corcoran

    Listing Agency: William Pitt Sotheby's Int'l Listing Agent: Susan Malan

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

    Learn more

    Overview

    Updated Office Space For Rent

    This updated office space offers approximately 1,200 square feet on the second floor. The unit features new flooring throughout and private restrooms. Off-street parking is available. The property is located near the center of town, providing a balance of convenience and privacy. It is suitable for professional offices, wellness services, or other commercial uses seeking a well-maintained and accessible location.
    Location Intelligence

    Current Use by Public Records

    Donovan & Donovan Law Firm Executive Real Estate Real Estate Agency Sarette Home Builders Construction Company Southeastern Connecticut Medical ... Medical Clinic Seaside CoWork Suites Coworking & Hybrid Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm 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
    Old Saybrook
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.385847
    Latitude
    41.295472

    Nearby Similar for Lease

    • New
      $1,450 /Mo
      1,200 SF

      Updated Office Space For Rent

      Clean, updated 1,200 SF office space in Old Saybrook.
      123 Elm St, Old Saybrook, CT 06475
      View Details
    • New
      $3,500 /Mo
      2,400 SF

      Old Saybrook Commercial Space Available

      Commercial space for lease in Old Saybrook, Connecticut.
      87 Spencer Plain Rd, Old Saybrook, CT 06475
      View Details
    • New
      $2,800 /Mo
      1,440 SF

      Old Saybrook Office Space For Lease

      Open office space with kitchen and bath in Old Saybrook.
      5 Barnes Ave, Old Saybrook, CT 06475
      View Details
    • New
      $15 SF/Yr
      4,032 SF

      Old Saybrook Commercial Space Available

      Highly visible office/retail space for lease on Boston Post Road.
      880 Boston Post Road Pl, Old Saybrook, CT 06475
      View Details
    • $475 /Mo

      Private Office Space Available

      Single office in two-story building, utilities included.
      23 School House Rd, Old Saybrook, CT 06475
      View Details
    • $950 /Mo

      Main Level Retail Space

      Retail space on heavily traveled road, perfect for business.
      1550 Boston Post Rd, Old Saybrook, CT 06475
      View Details
    • $6,700 /Mo
      2,900 SF

      Renovated Office Space For Rent

      2900 SF renovated office space suitable for medical or law offices.
      1180 Boston Post Rd, Old Saybrook, CT 06475
      View Details
    • $14 SF/Yr
      6,800 SF

      Prime Retail Space in Old Saybrook

      Spacious retail space with excellent visibility and convenient parking.
      118 Main St, Old Saybrook, CT 06475
      View Details
    • $8 SF/Yr
      256 SF

      Single-Room Office in Old Saybrook

      256 SF office with shared amenities in Old Saybrook.
      139-143 Mill Rock Rd E, Old Saybrook, CT 06475
      View Details
    • $24 SF/Yr

      Office and Retail Space Available

      Office and retail spaces for rent on high traffic corridor.
      900 Boston Post Rd, Old Saybrook, CT 06475
      View Details
    • $3,500 /Mo
      2,400 SF

      Industrial Space with Hoop House

      2,400 sq ft industrial space with hoop house.
      87 Spencer Plain Rd, Old Saybrook, CT 06475
      View Details
    • $785 /Mo
      760 SF

      Old Saybrook Office Space For Rent

      Office space in the heart of Old Saybrook, CT.
      263 Main St, Old Saybrook, CT 06475
      View Details

    FAQs

    What type of property is this?
    Office units - Updated office space with new flooring and private restrooms.
    Where is this office units located?
    The property is located at 123 Elm St, Unit 14 Old Saybrook, CT.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Updated office space with brand-new flooring; - Approximately 1,200 square feet of space.; - Convenient location near the center of town.
    (617) 645-4392
    Request Owner's contact information
    123 Elm St, Unit 14 Old Saybrook, CT 06475
    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.
    123 Elm St, Unit 14
    Old Saybrook, CT 06475
    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
    123 Elm St, Unit 14 Old Saybrook, CT 06475
    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
    Susan Malan
    Susan Malan
    Real Estate License ID: 0801539
    (617) 645-4392 (860) 767-7488 (860) 767-5011
    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!