Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    131 Canal Street Southington, CT 6479

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $450/Mo $41 SF/Yr (calc)

    Affordable 130 sq.ft. office space with easy highway access.

    Type:Commercial
    Property size:
    130 SF
    Added:
    Nov 13, 2024
    Days on Market:
    533
    Last Refresh:
    Apr 5 at 8:53 pm

    Property Features for 131 Canal Street

    General Information

    Standard status
    Active
    Size
    130 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1991

    We can help!

    Listing Contact
    KARA PEDERSEN
    KARA PEDERSEN

    Listing agent KARA PEDERSEN

    Listing office Carl Guild & Associates

    Listing date Nov 13, 2024

    Source Corcoran

    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 Carl Guild & Associates

    Overview

    Functional Office Space with Entrance

    This functional 130 sq.ft. office space offers a great opportunity for small businesses, startups, or professionals seeking a convenient and affordable workspace. It features a private entrance and versatile space, ideal for a desk, storage, or meeting area. The location provides high visibility and excellent access to nearby highways. Commuting is facilitated by easy access to Rte. 84. Two parking spaces are available for tenants and guests. Flexible lease options are available to suit business needs. On-site storage is available for an additional cost. Rent includes common maintenance charges, shared kitchen, shared bathroom, trash, heat, AC, water, wireless internet, exterior maintenance, and property management.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Southington
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.9004
    Latitude
    41.5741

    Nearby Similar for Lease

    • $650/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $550/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $1,150/Mo

      Southington Office Space For Rent

      Office space in a convenient location with flexible layout.
      176 N Main Street, Southington, CT 06489
      View Details
    • $300/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $20 SF/Yr

      Southington Office/Medical Space Available

      Professional office/medical space for lease in a well-maintained building.
      27 Meriden Avenue, Southington, CT 06489
      View Details
    • $16 SF/Yr

      Southington Retail Space Available

      12,000 SF retail space in Southington, Connecticut.
      350 Queen Street, Southington, CT 06489
      View Details
    • $1,650/Mo

      Retail Space on Busy Route

      Retail space with high visibility and easy highway access.
      1783 Meriden Waterbury Turnpike, Southington, CT 06489
      View Details
    • $20 SF/Yr

      Downtown Southington Office Suite

      Flexible commercial space in downtown Southington with elevator access.
      132 Main St, Unit Lower Level 1, Southington, CT 06489
      View Details
    • $1,500/Mo

      Downtown Southington Office Space

      Well-maintained office space in downtown Southington, all utilities included.
      133 Main St, Southington, CT 06489
      View Details
    • $750/Mo

      Renovated Downtown Office/Studio Space

      Flexible commercial space in a prime downtown location.
      132 Main St LL1, Southington, CT 06489
      View Details
    • Contact for pricing

      Office Space in Convenient Location

      Flexible office space featuring vintage details and quick occupancy.
      176 N Main St 1F, Southington, CT 06489
      View Details
    • $18 SF/Yr

      Downtown Southington Retail Space Available

      Prime retail space in downtown Southington, ideal for various businesses.
      83 Center Street #2, Southington, CT 06489
      View Details

    FAQs

    What type of property is this?
    Office units - Affordable 130 sq.ft. office space with easy highway access.
    Where is this office units located?
    The property is located at 131 Canal Street Southington, CT.
    What is the lease rate?
    The lease rate is $450 /Mo.
    What are key features of this property?
    This property features: Prime location with easy access to Rte. 84 for convenient commuting.; Rent includes all common maintenance charges (CMC), heat, AC, water, wireless internet, exterior maintenance, and property management.; Flexible lease options to suit business needs.
    (860) 474-3500
    We can help!
    Listing Contact
    KARA PEDERSEN
    KARA PEDERSEN
    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!