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    New 12,000 SF Steel Building Title is generated by Realmo AI

    144 Rowley St, Winchester, CT 06098

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    For Sale
    $1,900,000

    Newly constructed flex space with expansion potential on 20+ acres.

    Type:Commercial
    Property size:
    12,000 SF
    Lot size:
    21.00 Acres
    Price / SF:
    $158/SF
    Added:
    Mar 23, 2026
    Days on Market:
    62
    Last Refresh:
    Mar 19 at 9:03 am

    Property Features for 144 Rowley St

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Lot size
    21.00 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    Ryan Horvay

    Listing agent Ryan Horvay

    Listing office Smith & DeGroat Real Estate

    Listing date Mar 23, 2026

    Source Elliman

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

    All listing content including descriptions, pricing, images are the copyrighted material of Smith & DeGroat Real Estate

    HighLights

    • Newly constructed 12,000 SF steel building divided into eight (8) customizable units.
    • Sits on 20+ acres of land, allowing for future expansion.
    • Zoned for commercial/industrial use, suitable for diverse operations.
    • Excellent road visibility and access.
    • Durable, low‑maintenance steel‑frame construction with high ceilings and wide spans.
    • Eight (8) overhead doors and ample parking.

    Overview

    This newly constructed 12,000 SF steel building is divided into eight units, each approximately 1,500 SF. Situated on over 20 acres of land, the property offers flexibility, privacy, and space for future expansion. The building features modern design and high-quality materials. It has outstanding road visibility and access. Zoned for commercial and industrial use, the property is suitable for a range of operations. The build-to-suit layout allows for customizable interior walls or an open-span layout based on buyer needs. Potential uses include contractor services, light manufacturing, logistics, agricultural storage, retail showroom, or mixed-use site planning. The durable steel-frame construction requires low maintenance. High ceilings and wide interior spans allow for efficient space use. Options include service bays, warehouse space, contractor units, or equipment storage. The property includes eight overhead drive-in doors, utilities, and ample parking space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Winchester
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.06418
    Latitude
    41.913887

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    FAQs

    What type of property is this?
    Flex space - Newly constructed flex space with expansion potential on 20+ acres.
    Where is this flex space located?
    The property is located at 144 Rowley St Winchester, CT.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Newly constructed 12,000 SF steel building divided into eight (8) customizable units.; Sits on 20+ acres of land, allowing for future expansion.; Zoned for commercial/industrial use, suitable for diverse operations.
    (860) 480-0357
    We can help!
    Listing Contact
    Ryan Horvay
    Request Owner's contact information
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    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
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