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

    547 Center St Meriden, CT 06450

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,100,000

    30,000 sqft building on 1.3 acres with adaptive reuse potential.

    Lot size:
    1.37 Acres

    Property Features for 547 Center St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.37 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Ross Gulino
    Source: Elliman

    Listing Agency: Gulino Real Estate Listing Agent: Ross Gulino

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

    Learn more

    Overview

    Adaptive Reuse Potential on Center

    This property features a 30,000 sqft building situated on 1.3 acres. Identified as a potential adaptive reuse property, the old mill/manufacturing/retail building presents opportunities for investors. The special zone allows for a large list of uses, including residential apartments. Details regarding permitted uses can be found in the city zoning regulations (Ch 213- 39.1 Adaptive Reuse).
    Location Intelligence

    Current Use by Public Records

    Construction Workforce Initiative ... Charitable Organization

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.792418
    Latitude
    41.549312

    Nearby Similar for Sale

    • $699,000
      2,160 SF

      Established Liquor Store with Real Estate

      Profitable liquor store with property on high-traffic Hanover Road.
      854 Hanover Rd, Meriden, CT 06451
      View Details
    • $540,000
      5,410 SF

      Mixed-Use Building Near Train Station

      Versatile mixed-use property with industrial, retail, office, and residential spaces.
      109 Hanover St, Meriden, CT 06451
      View Details
    • $514,900
      2,174 SF

      East Side Duplex with Garage

      Duplex with 3 bedrooms each unit, garage, near park.
      43 N Pearl St, Meriden, CT 06450
      View Details
    • New
      $525,000
      3,303 SF

      Spacious Meriden Multifamily Investment

      Well-maintained 3-family property in Meriden with strong rental potential.
      22 Webster St, Meriden, CT 06450
      View Details
    • $380,000
      3,561 SF

      Meriden Multifamily Investment Opportunity

      Three-unit property in Meriden, Connecticut, ideal for investment.
      201 Colony St, Meriden, CT 06451
      View Details
    • $475,000
      2,990 SF

      Renovated Multifamily Property in Meriden

      Extensively renovated multifamily property with eight bedrooms, a cash cow.
      56 N 1St St, Meriden, CT 06451
      View Details
    • $475,000
      2,102 SF

      Meriden Multifamily Investment Opportunity

      Multifamily property in Meriden, Connecticut, with renovation potential.
      151 View St, Meriden, CT 06450
      View Details
    • $187,720
      Pending

      Versatile Multifamily Property in Meriden

      Charming multifamily property with investment potential in Meriden, Connecticut.
      86 Linsley Ave, Meriden, CT 06451
      View Details
    • $1,100,000
      1,238 SF

      Meriden Multifamily Investment Opportunity

      Four-unit multifamily property in Meriden, Connecticut, all units currently rented.
      111 Sunset Ave, Meriden, CT 06450
      View Details
    • $375,000
      2,294 SF

      Meriden Multi-Family Income Property

      Two-family property with six bedrooms, part of a larger portfolio.
      144 View St, Meriden, CT 06450
      View Details
    • $800,000

      Historic Brownstone with Endless Possibilities

      22,856 SF historic brownstone suitable for various uses.
      136 E Main St, Meriden, CT 06450
      View Details
    • $699,000

      Established Liquor Store with Real Estate

      Profitable liquor store with property on high-traffic Hanover Road.
      854 Hanover Rd, Meriden, CT 06451
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 30,000 sqft building on 1.3 acres with adaptive reuse potential.
    Where is this manufacturing property located?
    The property is located at 547 Center St Meriden, CT.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Currently rented 30,000 sqft building provides immediate income.; - 1.3 acre lot offers significant development potential.; - Identified as potential adaptive reuse property.
    (203) 631-4444
    Request Owner's contact information
    547 Center St Meriden, CT 06450
    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.
    547 Center St
    Meriden, CT 06450
    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
    547 Center St Meriden, CT 06450
    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
    Ross Gulino
    Real Estate License ID: REB.0791635
    (203) 631-4444 (203) 237-5397
    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!