Commercial Flex Space For
For Sale
$760,000
Pending
193 Pascone Place, Newington, CT 06111
5,000 SF industrial facility on 0.57 acres for sale.
Property Size1,960 SF
Lot Size0.57 Acres
Days on Market132
Property Features for 193 Pascone Place
General Information
Standard status
Pending
Size
1,960 SF
Lot size
0.57 Acres
Property subtype
Commercial
Lease Term
Business Included YNN: No
Building Details
Building Size
1,960 SF
Year Built
1960
Listing Agency:
Amodio & Co.
(860) 674-8908
Listed By:
Frank Amodio · License #REB.0756053
(860) 674-8908
Source:
Iverty
Added: Apr 16
Changed: Aug 23
Last Checked: Aug 23 at 8:51AM
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 Amodio & Co.
Investment Insights
Based on property information with market context.
This commercial flex space is a 5,000 SF industrial facility situated on 0.57 acres. The masonry building features a functional layout with prominent signage and a 12'x12' overhead drive-in door. Unit heaters are present. The property includes 19,500 sq ft of asphalt paving, suitable for parking, loading, and truck maneuverability. It benefits from street frontage in a commercial corridor that serves local residents and regional traffic. Located adjacent to Route 5&15, the Berlin Turnpike, a primary North-South artery, sees approximately 25,000 vehicles per day, offering exposure for various uses such as retail, service, office, medical, distribution, light manufacturing, fabrication, and specialty trades. The rear of the building features wide open clear span space, while the front includes a finished showroom and offices. This property is suitable for both owner-users and commercial investors.
Key Highlights
- Excellent location adjacent to Route 5&15 (Berlin Turnpike) with high traffic count (25,000 vehicles per day) providing excellent exposure.
- 5,000 SF commercial flex space on 0.57 acres suitable for various uses.
- Functional layout with open clear span space, finished showroom/offices, and 12'x12' overhead drive‑in door.
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
$65,988
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
8.68%
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%
$1,319,760
$1.3M
Cap Rate 7%
$942,686
$942.7K
Cap Rate 9%
$733,200
$733.2K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$6.5K −$1.30/SF
EGI
$101.5K $20.30/SF
− OpEx
−$35.5K −$7.11/SF
NOI
$66.0K $13.20/SF
Area
Hartford, CT
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$1,319,760
Cap Rate 7%
$942,686
Cap Rate 9%
$733,200
Alternative Uses
Best Use
Flex RnD
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 8.68%
Second Best
Industrial
$805.1K
$704.5K – $939.3K
NOI $56,360 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,325 @ 7.0% cap · market cap 13.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06111, CT
30,536
Population
13,334
Households
2.3
Avg Household Size
45
Median Age
40%
College-Educated
92%
High-School Grad
13.0 sq mi
ZIP Area
2,349
Density / Sq Mi
$98,585
Median Household Income
$54,916
Median Earnings
$1,487
Median Rent
$279,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 5,000 SF industrial facility on 0.57 acres for sale.
Where is this flex space located?
The property is located at 193 Pascone Place Newington, CT.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Excellent location adjacent to Route 5&15 (Berlin Turnpike) with high traffic count (25,000 vehicles per day) providing excellent exposure.; 5,000 SF commercial flex space on 0.57 acres suitable for various uses.; Functional layout with open clear span space, finished showroom/offices, and 12'x12' overhead drive‑in door.
