Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot Prime Location Title is generated by Realmo AI

    246 Pratt Street, Meriden, CT 06450

    View on Map
    Claim this Listing
    For Sale
    $169,900

    Level commercial lot with highway access and development potential.

    Type:Land or Vacant Lot
    Lot size:
    0.32 Acres
    Added:
    Oct 3, 2025
    Days on Market:
    245
    Last Refresh:
    Apr 5 at 10:25 pm

    Property Features for 246 Pratt Street

    General Information

    Standard status
    Active
    Lot size
    0.32 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    DANNY TORRES
    DANNY TORRES

    Listing agent DANNY TORRES License #RES.0684642

    Listing office Century 21 AllPoints Realty

    Listing date Oct 3, 2025

    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 Century 21 AllPoints Realty

    HighLights

    • Prime location with easy access to major highways.
    • Zoning allows for gas stations, warehouses, offices, fast food, or sit‑down restaurants.
    • High traffic area.
    • Level commercial lot.
    • Potential for development.
    • Can be purchased with 250 Pratt St.

    Overview

    This level commercial lot is located at 246 Pratt St. in Meriden, CT. Its prime location offers easy access to major highways, making it suitable for businesses seeking high accessibility. The zoning allows for various uses, including gas stations, warehouses, offices, fast food establishments, or sit-down restaurants, offering development potential. Situated in a high-traffic area, the lot can be purchased together with the adjacent property at 250 Pratt St.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.7859
    Latitude
    41.544

    Nearby Similar for Sale

    • $699,000
      2,160 SF

      Established Liquor Store with Real Estate

      Profitable liquor store with property on high-traffic Hanover Road.
      854 HANOVER Road, Meriden, CT 06451
      View Details
    • $259,000
      1,432 SF

      Move-In-Ready Two-Family Duplex

      Move-in-ready two-family brick duplex with updated interiors, wood-look flooring, and baseboard heating in a C-1 zone.
      393 Colony Street, Meriden, CT 06450
      View Details
    • $540,000
      5,410 SF

      Mixed-Use Building Near Train Station

      Versatile mixed-use property with industrial, retail, office, and residential spaces.
      109 Hanover Street, Meriden, CT 06451
      View Details
    • $450,000
      2,611 SF

      Income-Producing Three-Family Property

      Three-unit property with investment potential in a convenient location.
      96 Franklin Street, Meriden, CT 06450
      View Details
    • $450,000
      3,008 SF

      Turnkey Three-Family Property in Meriden

      Three-unit property with strong rental demand, ideal for investors.
      102 Franklin Street, Meriden, CT 06450
      View Details
    • $385,000
      2,436 SF

      Meriden Multifamily Investment Opportunity

      Well-managed, fully rented multifamily property with garage and ample parking.
      126 Willow Street, Meriden, CT 06450
      View Details
    • $1,100,000
      1,238 SF

      Meriden Multifamily Investment Opportunity

      Four-unit multifamily property in Meriden, Connecticut, all units currently rented.
      111,113 & 115 Sunset Avenue, Meriden, CT 06450
      View Details
    • $400,000
      1,839 SF

      Meticulously Maintained Two-Family Residence

      Two-family residence with cash-flow potential and long-term upside.
      67 Pine Street, Meriden, CT 06451
      View Details
    • $419,999
      2,198 SF

      Reborn Multifamily Property in Meriden

      Renovated multifamily property with income potential in Meriden, CT.
      16 Winthrop Street, Meriden, CT 06451
      View Details
    • $450,000
      1,904 SF

      Meriden Multifamily Home with Garage

      Spacious two-unit home with garage, large yard, convenient location.
      7 Linden Place, Meriden, CT 06450
      View Details
    • $315,000
      11,108 SF

      Operating Restaurant and Banquet Facility

      Fully operational Indo-Pakistani restaurant and banquet facility for sale.
      1835 North Broad Street, Meriden, CT 06450
      View Details
    • $249,900
      2,184 SF

      Meriden Two-Family Home with Garage

      Two-family home with a detached two-car garage in Meriden.
      85 Hicks Street, Meriden, CT 06450
      View Details

    FAQs

    What type of property is this?
    Commercial land - Level commercial lot with highway access and development potential.
    Where is this commercial land located?
    The property is located at 246 Pratt Street Meriden, CT.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: Prime location with easy access to major highways.; Zoning allows for gas stations, warehouses, offices, fast food, or sit‑down restaurants.; High traffic area.
    (203) 265-1931
    We can help!
    Listing Contact
    DANNY TORRES
    DANNY TORRES
    Real Estate License ID: RES.0684642
    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
    246 Pratt Street, Meriden, CT 06450
    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!