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

    554 Spring Street Southington, CT 6489

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $149,900

    Lightly wooded industrial lot near major routes.

    Type:Land / Industrial Land
    Added:
    Nov 13, 2024
    Days on Market:
    520
    Last Refresh:
    Mar 13 at 3:53 pm

    Property Features for 554 Spring Street

    General Information

    Standard status
    Active
    Property subtype
    Land / Industrial Land

    We can help!

    Listing Contact
    Jarod R Stevens

    Listing agent Jarod R Stevens License #REB.0789199

    Listing office Precision Realty LLC

    Listing date Nov 13, 2024

    Source Compass

    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 Precision Realty LLC

    Overview

    Industrial Lot For Sale

    This is an industrial lot zoned I-2. Interested parties are responsible for conducting their own research regarding land usage. The property benefits from its location with proximity to Route 10 Queen Street and Route 229 West Street.
    Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Southington
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8922077
    Latitude
    41.6286623

    Nearby Similar for Sale

    • $725,000
      4,947 SF

      Versatile Mixed-Use Investment Opportunity

      Mixed-use property with office, residential, and garage spaces for sale.
      256 N Main Street, Southington, CT 06489
      View Details
    • $150,000

      Southington Buildable Commercial Land

      High-visibility 1.14-acre commercial land primed for development.
      81 Laning Street, Southington, CT 06489
      View Details
    • $180,000
      1,180 SF

      Southington Commercial Condo For Sale

      Commercial condo in a busy plaza with easy highway access.
      1783 Meriden Waterbury Turnpike unit: G7, Southington, CT 06489
      View Details
    • $599,900
      7,500 SF

      Southington Office Building For Sale

      Well-maintained office building with 7,500 square feet of space.
      1006 South Main Street, Southington, CT 06479
      View Details
    • $275,000
      6,500 SF

      Turnkey Restaurant Opportunity

      Established restaurant with naming rights for sale.
      151 Queen Street, Southington, CT 06489
      View Details
    • $599,900
      1,896 SF

      Remodeled Office Building For Sale

      Extensively remodeled office building suitable for owner-user in revitalized downtown.
      100 Center Street, Southington, CT 06489
      View Details
    • $459,900

      Southington Two-Family Home

      Well-maintained two-family home in downtown Southington with upside potential.
      86 Bristol St, Southington, CT 06489
      View Details
    • $1,460,000
      5,978 SF

      Southington Auto Shop Investment Opportunity

      NNN ground lease with 10+ years remaining and rental increases.
      288 Queen St, Southington, CT
      View Details
    • $1,800,000
      15,920 SF

      Southington Commercial Building For Sale

      Renovated commercial building on high-visibility West Street in Southington.
      1650 West Street, Southington, CT 06489
      View Details
    • $1,199,000
      4,800 SF

      Remodeled Mixed-Use Commercial Property

      Fully remodeled mixed-use property with updated systems and residential units.
      410 Main Street, Southington, CT 06489
      View Details
    • $450,000
      3,481 SF

      Versatile Office/Retail Space For Sale

      Office/Retail space with modern industrial charm, commuter access, parking.
      56 Center St, Southington, CT
      View Details
    • $275,000

      Residential Land in Southington, CT

      3-acre residential parcel for development in Southington, CT.
      310 Buckland Street, Southington, CT 06479
      View Details

    FAQs

    What type of property is this?
    Industrial land - Lightly wooded industrial lot near major routes.
    Where is this industrial land located?
    The property is located at 554 Spring Street Southington, CT.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: Great location with proximity to Rt 10 Queen St and Rt 229 West St; Industrial (I‑2) zoning; Lightly wooded lot
    (860) 384-2817
    We can help!
    Listing Contact
    Jarod R Stevens
    Real Estate License ID: REB.0789199
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!