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    Prime Retail Space in Mansfield Title is generated by Realmo AI

    1717 Storrs Road #C, Mansfield, CT 06268

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    For Lease
    $25 SF/Yr $2,964/Mo (calc)

    Retail space for lease in a high-traffic UConn adjacent development.

    Property size:
    1,423 SF
    Added:
    Feb 1, 2024
    Days on Market:
    854
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 1717 Storrs Road #C

    General Information

    Standard status
    Active
    Size
    1,423 SF

    Building Details

    Year Built
    2025

    We can help!

    Listing Contact
    JENNIE KESSELMAN
    JENNIE KESSELMAN

    Listing agent JENNIE KESSELMAN License #RES.0816437

    Listing office Berkshire Hathaway NE Prop.

    Listing date Feb 1, 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 Berkshire Hathaway NE Prop.

    HighLights

    • Prime retail space (1,423 SF) in Mansfield's new development.
    • Located in The Standard at Four Corners, a large development with 398 housing units.
    • High‑traffic location near UConn, providing exposure to students, faculty, and local residents.
    • Easy access to Rt 84.
    • Flexible interior space that can be customized.
    • Part of a larger retail space offering, with potential to combine units for more space.

    Overview

    This listing pertains to Unit C, which offers 1,423 square feet of retail space within a new development in Mansfield. Known as The Standard at Four Corners, the project encompasses over 684,000 square feet and 398 housing units distributed across 7 buildings, establishing it as a prominent housing development near the University of Connecticut (UConn). The location provides access to Route 84 and the main route into the University, offering exposure to a customer base that includes students, faculty, and local residents. The retail space is designed to allow flexibility in shaping it according to specific business needs. A total of 12,551 square feet of retail space is available across three buildings, with individual units ranging from 880 to 4,200 square feet. Combining units is a possibility for businesses requiring more space. The location's high traffic, generated by the university community, presents a business opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Hotel & Motel Department Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Windham
    State
    Connecticut
    Longitude
    -72.2003
    Latitude
    41.7677

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    FAQs

    What type of property is this?
    Retail space - Retail space for lease in a high-traffic UConn adjacent development.
    Where is this retail space located?
    The property is located at 1717 Storrs Road #C Mansfield, CT.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Prime retail space (1,423 SF) in Mansfield's new development.; Located in The Standard at Four Corners, a large development with 398 housing units.; High‑traffic location near UConn, providing exposure to students, faculty, and local residents.
    (860) 633-3674
    We can help!
    Listing Contact
    JENNIE KESSELMAN
    JENNIE KESSELMAN
    Real Estate License ID: RES.0816437
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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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