Add Listing
    For Lease
    • 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

    232 Williams St Glastonbury, CT 06033

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $26 SF/Yr ($15,270 /Mo)

    7,048 SF commercial building with updated interior and ample parking.

    Property size:
    7,048 SF
    Lot size:
    1.50 Acres

    Property Features for 232 Williams St

    General Information

    Standard status
    Active
    Size
    7,048 SF
    Lot size
    1.50 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Amy Rio
    Amy Rio
    Source: Corcoran

    Listing Agency: Executive Real Estate Inc. Listing Agent: Amy Rio

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Updated Commercial Building For Lease

    This 7,048 square foot commercial building features a brick exterior and a professionally updated interior. It is heated with natural gas. The layout is designed for office, medical, or professional use, and includes 11 private offices, space for over 30 workstations, and three conference or training rooms. Additional features include three bathrooms, a full kitchen with an eat-in area, and flexible common spaces. The building is move-in ready and offers ample on-site parking.
    Location Intelligence

    Current Use by Public Records

    Facilities Maintenance Social Service Agency

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Glastonbury
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.598456
    Latitude
    41.7039696

    Nearby Similar for Lease

    • $1,750 /Mo
      700 SF

      Downtown Glastonbury Office Space

      Two-room office suite in downtown Glastonbury, heat included.
      2239 Main St Unit, Glastonbury, CT 06033
      View Details
    • $13 SF/Yr
      6,600 SF

      Glastonbury Flex Space Available

      6,600 SF flex space with office in Glastonbury.
      80 Sequin Dr, Glastonbury, CT 06033
      View Details
    • $20 SF/Yr
      1,100 SF

      Glastonbury Retail/Office Space Available

      Multiple retail/office spaces for rent in Glastonbury, CT.
      2450 Main St, Glastonbury, CT 06033
      View Details
    • $32 SF/Yr
      1,543 SF

      Retail Space in Glastonbury Center

      Retail property for lease with immediate highway access.
      119 Hebron Ave, Glastonbury, CT 06033
      View Details
    • $18 SF/Yr
      2,763 SF

      Glastonbury Office Space For Rent

      Office space for lease with immediate access to Route 2.
      55 Nye Rd, Glastonbury, CT 06033
      View Details
    • $26 SF/Yr
      890 SF

      Retail Space in Town Center

      Retail spaces available in prime Town Center location.
      30 Welles St, Glastonbury, CT 06033
      View Details
    • $21 SF/Yr
      1,770 SF

      Glastonbury Office Space For Rent

      Office spaces in renovated building, downtown Glastonbury location.
      131 New London Tpke, Glastonbury, CT 06033
      View Details
    • Contact for pricing
      7,113 SF

      Class A Office Space Available

      Office space for lease in Glastonbury, Connecticut.
      655 Winding Brook Dr, Glastonbury, CT 06033
      View Details
    • Contact for pricing
      5,000 SF

      Retail and Restaurant Space Available

      Outdoor town square with regional and national stores and restaurants.
      140 Glastonbury Blvd, Glastonbury, CT 06033
      View Details
    • Contact for pricing
      15,720 SF

      Glastonbury Office/Flex Space Available

      15,720 SF office/flex space for lease in Glastonbury, CT.
      41 Sequin Dr, Glastonbury, CT 06033
      View Details
    • $700 /Mo
      87 SF

      Glastonbury Office Space For Rent

      Prime office space in Glastonbury, near major retailers and Route 2.
      381 Hubbard St, Glastonbury, CT 06033
      View Details
    • $2,350 /Mo
      120 SF

      Glastonbury Center Office Space

      Prestigious office space in the heart of Glastonbury Center.
      212 New London Tpke, Glastonbury, CT 06033
      View Details

    FAQs

    What type of property is this?
    Office building - 7,048 SF commercial building with updated interior and ample parking.
    Where is this office building located?
    The property is located at 232 Williams St Glastonbury, CT.
    What is the lease rate?
    The lease rate is $26 SF/Yr.
    What are key features of this property?
    This property features: - Move-in ready, updated interior allows for immediate operation.; - 7,048 SF building with a flexible layout suitable for office, medical, or professional use.; - Includes **11 private offices**, space for 30+ workstations, and **3 conference/training rooms**.
    (860) 633-8800
    Request Owner's contact information
    232 Williams St Glastonbury, CT 06033
    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.
    232 Williams St
    Glastonbury, CT 06033
    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
    232 Williams St Glastonbury, CT 06033
    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

    We can help!
    Listing Contact
    Amy Rio
    Amy Rio
    Real Estate License ID: REB.0788717
    (860) 633-8800 (860) 916-6048
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!