Professional Office Suite For
For Sale
$119,900
Pending
390 Middlebury Rd 3, Middlebury, CT 06762
Well-located office suite with four private offices in Middlebury, CT.
Property Size850 SF
Days on Market153
Property Features for 390 Middlebury Rd 3
General Information
Standard status
Pending
Size
850 SF
Property subtype
Commercial
Building Details
Building Size
850 SF
Year Built
1978
Listing Agency:
Oxford Realty
(475) 313-5640
Listed By:
Steve Colon · License #RES.0823484
(475) 313-5640
Source:
Elliman
Added: Mar 31
Changed: Aug 23
Last Checked: Aug 29 at 1:36PM
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 Oxford Realty
Investment Insights
Based on property information with market context.
This professional office suite is located at 390 Middlebury Rd, Suite 3, in Middlebury, CT. The suite features a versatile layout with four private offices, making it suitable for professional services such as legal, financial, medical, or consulting. The property is conveniently situated near retail amenities and dining options, providing easy access for employees and clients. The location also offers connectivity to major highways, enhancing commute times and regional accessibility. On-site parking is available. The property is located in a car-dependent area with minimal transit options, but is somewhat bikeable. It is an opportunity to own office space in an accessible Middlebury location.
Key Highlights
- Four private offices suitable for various professional services (legal, financial, medical, consulting).
- Convenient location in the heart of Middlebury, near retail and dining amenities.
- Ample on‑site parking for employees and clients.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,978
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,560
$219.6K
Cap Rate 7%
$156,829
$156.8K
Cap Rate 9%
$121,978
$122.0K
Market Conditions
NOI Build-Up for 850 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.9K $21.00/SF
− Vacancy
−$3.2K −$3.78/SF
EGI
$14.6K $17.22/SF
− OpEx
−$3.7K −$4.31/SF
NOI
$11.0K $12.92/SF
Area
Waterbury, CT
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$219,560
Cap Rate 7%
$156,829
Cap Rate 9%
$121,978
Alternative Uses
Best Use
Office B
$156.8K
$137.2K – $183.0K
NOI $10,978 @ 7.0% cap · market cap 9.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$225.6K
$197.4K – $263.2K
NOI $15,790 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 06762, CT
7,574
Population
3,071
Households
2.5
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
17.8 sq mi
ZIP Area
426
Density / Sq Mi
$142,750
Median Household Income
$66,184
Median Earnings
$452,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-located office suite with four private offices in Middlebury, CT.
Where is this office units located?
The property is located at 390 Middlebury Rd 3 Middlebury, CT.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: Four private offices suitable for various professional services (legal, financial, medical, consulting).; Convenient location in the heart of Middlebury, near retail and dining amenities.; Ample on‑site parking for employees and clients.
