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

    185 Albert St Torrington, CT 06790

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,100 /Mo

    Multi-use office space near downtown Torrington.

    Property Features for 185 Albert St

    General Information

    Property type
    Commercial
    Standard status
    Active

    Building Details

    Year built
    1915

    We can help!

    Listing Contact
    Christian A. Marino
    Source: Elliman

    Listing Agency: Cohen Agency Listing Agent: Christian A. Marino

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

    Learn more

    Overview

    Versatile Office Space Available

    This multi-use commercial space is suitable for law, dental, and medical offices, with potential for other businesses. The spacious office includes a reception area and waiting room. The layout can be configured to accommodate various uses. The property is located in close proximity to downtown Torrington.
    Location Intelligence

    Current Use by Public Records

    Gregory S Jones ... Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Torrington
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.125627
    Latitude
    41.7945459

    Nearby Similar for Lease

    • $1,250 /Mo
      800 SF

      Torrington Commercial Space For Lease

      800 sq ft office/retail space in a 3-unit building.
      286 Main St, Torrington, CT 06790
      View Details
    • $5,000 /Mo
      5,900 SF

      Medical Office in Downtown Torrington

      Meticulously maintained medical office building near hospital with apartment.
      95 New Litchfield St, Torrington, CT 06790
      View Details
    • $850 /Mo
      600 SF

      Downtown Torrington Commercial Space Available

      Versatile commercial space in downtown Torrington, suitable for various businesses.
      86 Water St, Torrington, CT 06790
      View Details
    • New
      $1,000 /Mo
      670 SF

      Torrington Office or Retail Space

      High-visibility, customizable space in a well-maintained mixed-use building.
      835 New Harwinton Rd, Torrington, CT 06790
      View Details
    • $3,000 /Mo
      2,300 SF

      Torrington Flex Space with Loading

      Flex space featuring loading dock, office, and basement storage.
      132 Franklin St, Torrington, CT 06790
      View Details
    • $2,300 /Mo
      2,300 SF

      Modern Commercial Unit in Downtown

      Two-story commercial unit in vibrant downtown district with parking.
      122 Franklin St, Torrington, CT 06790
      View Details
    • $3,300 /Mo
      3,412 SF

      Retail Building with Ample Parking

      Single-story retail building with parking available for lease.
      2407 Winsted Rd, Torrington, CT 06790
      View Details
    • $1,300 /Mo
      650 SF

      Renovated Retail/Office Space Available

      Newly renovated space with high visibility and ample parking.
      835 New Harwinton Rd, Torrington, CT 06790
      View Details
    • $1,250 /Mo
      800 SF

      Main Street Office/Retail Space

      800 sq ft office/retail space in a 3-unit building.
      286 Main St, Torrington, CT 06790
      View Details
    • $1,400 /Mo
      1,269 SF

      Downtown Storefront with High Visibility

      Centrally located downtown space with flexible layout and ample storage.
      19 East Main St, Torrington, CT 06790
      View Details
    • $1,850 /Mo
      1,500 SF

      Downtown Torrington Commercial Space Available

      Ground level commercial space for lease in downtown Torrington.
      257 Main St, Torrington, CT 06790
      View Details
    • $1,000 /Mo

      Free Standing Retail Building

      1,296 SF retail space ideal for start-up business.
      55 Wall St, Torrington, CT 06790
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Multi-use office space near downtown Torrington.
    Where is this medical office space located?
    The property is located at 185 Albert St Torrington, CT.
    What is the lease rate?
    The lease rate is $2,100 /Mo.
    What are key features of this property?
    This property features: - Ideal for law, dental, and medical offices.; - Spacious office with reception area and waiting room.; - Configurable to accommodate different uses.
    (860) 618-5800
    Request Owner's contact information
    185 Albert 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.
    185 Albert 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
    185 Albert 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
    Christian A. Marino
    (860) 618-5800 (860) 482-6864
    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!