Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Apartment Near Downtown Putnam Title is generated by Realmo AI

    198 S Main St, Putnam, CT 06260

    View on Map
    Claim this Listing
    For Lease
    $1,900/Mo $20 SF/Yr (calc)

    Inviting 2-bedroom apartment with walkable convenience to downtown.

    Type:Multi Family
    Property size:
    1,100 SF
    Added:
    May 11, 2026
    Days on Market:
    19
    Last Refresh:
    May 11 at 5:04 pm

    Property Features for 198 S Main St

    General Information

    Standard status
    Active
    Size
    1,100 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1860

    We can help!

    Listing Contact
    Vivian Kozey

    Listing agent Vivian Kozey License #RES.0805792

    Listing office

    Listing date May 11, 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 Vivian Kozey

    HighLights

    • Great Location on Major Hwy
    • Rustic and Ready
    • Various types of businesses will fit
    • Over 2 Acres
    • Fully furnished with equipment, tables, chairs etc.
    • Turn Key Operations

    Overview

    This bright, sun-filled apartment offers 1,100 sq ft of living space in a quiet, residential neighborhood. The 2-bedroom unit features a large kitchen with a pantry, providing ample cooking and storage space. Natural light fills the apartment. A private entrance, driveway, and porch enhance the sense of privacy. The convenience of an in-unit washer and dryer is included. Recently painted, the apartment is move-in ready. Its location offers walkable convenience, being just a 5-10 minute walk to shopping, parks, banks, dining, a theater, the YMCA, the River Trail, medical facilities, and a vibrant downtown area with seasonal events and live music. Trash and snow removal services are included. The location has a walk score of 70, indicating it is very walkable, and a bike score of 40, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Putnam
    County
    Windham
    State
    Connecticut
    Longitude
    -71.903656
    Latitude
    41.909349

    Nearby Similar for Lease

    • $14 SF/Yr
      3,848 SF

      Spacious Commercial Office Building

      Well-designed office building suitable for medical, professional, or administrative use.
      7 Kennedy Drive, Putnam, CT 06260
      View Details
    • $13 SF/Yr
      3,200 SF

      Functional Office Suite For Rent

      3,200 SF office suite with finished lower level.
      30 Harris Street, Putnam, CT 06260
      View Details
    • $13 SF/Yr
      3,324 SF

      Functional Office Suite For Rent

      3,200 SF office suite with finished lower level.
      30 Harris Street, Putnam, CT 06260
      View Details
    • $1,675/Mo
      600 SF

      Downtown Putnam Commercial Space

      Versatile commercial space in downtown Putnam, suitable for various uses.
      112 Main Street, Putnam, CT 06260
      View Details
    • $14 SF/Yr

      Spacious Office Building For Rent

      Well-designed commercial office building suitable for medical or professional use.
      7 Kennedy Dr, Putnam, CT 06260
      View Details
    • Contact for pricing
      6,000 SF

      Professional Office Space Available

      Up to 6,000 SF of office space for lease.
      35-39 Kennedy Dr, Putnam, CT 06260
      View Details
    • $7 SF/Yr
      32,000 SF

      Industrial/Warehouse Space For Lease

      Flexible industrial/warehouse space available for lease. Convenient truck access.
      30 Harris Street, Putnam, CT 06260
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space Near Interstate-395

      Retail space with high visibility and ample parking available for rent.
      97 Providence Pike, Putnam, CT
      View Details
    • Contact for pricing

      Industrial Single Tenant Opportunity

      Industrial property available for rent, suitable for a single tenant.
      51 Ridge Rd, Putnam, CT 06260
      View Details
    • Contact for pricing
      28,630 SF

      Putnam Retail/Medical/Restaurant Spaces For Lease

      Two in-line retail spaces available for lease in Putnam, CT.
      97 Providence Pike, Putnam, CT 06260
      View Details

    FAQs

    What type of property is this?
    Residential income property - Inviting 2-bedroom apartment with walkable convenience to downtown.
    Where is this residential income property located?
    The property is located at 198 S Main St Putnam, CT.
    What is the lease rate?
    The lease rate is $1,900 /Mo.
    What are key features of this property?
    This property features: Great Location on Major Hwy; Rustic and Ready; Various types of businesses will fit
    (860) 455-5363
    We can help!
    Listing Contact
    Vivian Kozey
    Real Estate License ID: RES.0805792
    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

    Thank You for Inquiry
    198 S Main St, Putnam, CT 06260
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!