Add Listing
    For Sale
    • 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

    169 Kelsey St New Britain, CT 06051

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $750,000

    Commercial garage with income potential in a prime location.

    Lot size:
    0.51 Acres

    Property Features for 169 Kelsey St

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    0.51 Acres

    Building Details

    Year built
    1920

    We can help!

    Listing Contact
    Niccolo Saraceno
    Source: Elliman

    Listing Agent: Niccolo Saraceno

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

    Learn more

    Overview

    Oversized Commercial Garage on Corner Lot

    This property features an oversized 3-bay commercial garage suitable for a mechanic, contractor, or investor. Situated on a corner lot with frontage on Kelsey St and Rocky Hill Ave, the location offers convenient access to surrounding areas. The property includes 8-bay garages in the rear, providing income potential, along with ample parking space. The zoning allows for multiple business uses. The spacious, oversized lot may also offer the possibility for subdivision or development to build two multi-family properties.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    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.

    Similar Places Nearby

    Supreme Automotive LLC Service, Tint Pro, Caguas Used Tires Center LLC, Ak Auto, Caguas Used Tire Center LLC

    Location Insight

    • Map
    • Local Demand
    City
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7627395
    Latitude
    41.6622143

    Nearby Similar for Sale

    • New
      $450,000
      Pending

      New Britain Two-Family Home

      Two-family home with potential for a third unit.
      126 Winthrop St, New Britain, CT 06052
      View Details
    • New
      $525,000
      3,405 SF

      New Britain Three-Family Home

      Well-maintained three-family home with strong rental potential.
      811 East St, New Britain, CT 06051
      View Details
    • New
      $374,999
      Pending

      Spacious Multifamily Property in New Britain

      8-bedroom, 3-family property near shopping, schools, and transportation.
      221 Fairview St, New Britain, CT 06051
      View Details
    • $459,900
      3,126 SF

      New Britain Three-Family House

      Well-maintained three-family house in the heart of New Britain.
      15 Tremont St, New Britain, CT 06051
      View Details
    • $515,000
      3,348 SF

      Tenant-Occupied Three-Family Property

      Well-maintained, three 2-bedroom units, updated, near amenities.
      67 Brooklawn St, New Britain, CT 06052
      View Details
    • $725,000
      4,760 SF

      Versatile Commercial Building in New Britain

      Adaptable commercial building with office, garage, and parking.
      551 Stanley St, New Britain, CT 06051
      View Details
    • $475,000

      New Britain Commercial Property For Sale

      Commercial property in New Britain's Central Business District for sale.
      61 Glen St, New Britain, CT 06051
      View Details
    • $490,000

      Thriving Restaurant with Prime Parking

      Well-established Dominican restaurant with real estate and parking included.
      647 Stanley St, New Britain, CT 06051
      View Details
    • $995,500
      4,209 SF

      Arch Street Tavern Business Opportunity

      Freestanding restaurant and bar business with real estate for sale.
      85 Arch St, New Britain, CT 06051
      View Details
    • $475,000

      New Britain Commercial Property For Sale

      Commercial property in New Britain's Central Business District for sale.
      61 Glen St, New Britain, CT 06051
      View Details
    • $399,000

      Mixed-Use Investment Opportunity in Poland

      Versatile commercial property with multi-family potential in thriving Little Poland.
      527 Burritt St, New Britain, CT 06053
      View Details
    • $374,999
      Pending

      Spacious Multifamily Property in New Britain

      8-bedroom, 3-family property near amenities and public transportation.
      221 Fairview St, New Britain, CT 06051
      View Details

    FAQs

    What type of property is this?
    Auto shop - Commercial garage with income potential in a prime location.
    Where is this auto shop located?
    The property is located at 169 Kelsey St New Britain, CT.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Oversized 3-bay commercial garage suitable for mechanic, contractor, or investor.; - Income-generating 8-bay garages located in the rear of the property.; - Corner lot location with frontage on two streets.
    (860) 559-1695
    Request Owner's contact information
    169 Kelsey St New Britain, CT 06051
    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.
    169 Kelsey St
    New Britain, CT 06051
    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
    169 Kelsey St New Britain, CT 06051
    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
    Niccolo Saraceno
    (860) 559-1695
    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!