Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Main Street Rental Opportunity Title is generated by Realmo AI

    324 Main Street Unit 3, Portland, CT 06480

    View on Map
    Claim this Listing
    For Lease
    $1,800/Mo $6 SF/Yr (calc)

    Two-bedroom, one-bathroom unit with included heat and hot water.

    Type:Multi-Family Rental
    Property size:
    3,184 SF
    Added:
    Apr 23, 2026
    Days on Market:
    38
    Last Refresh:
    May 15 at 12:46 pm

    Property Features for 324 Main Street Unit 3

    General Information

    Standard status
    Active
    Size
    3,184 SF
    Property subtype
    Multi-Family Rental

    Building Details

    Year Built
    1850

    We can help!

    Listing Contact
    Amy Rio
    Amy Rio

    Listing agent Amy Rio License #3334578

    Listing office Better Homes and Gardens Real Estate Executive Real Estate

    Listing date Apr 23, 2026

    Source Lockandkeyre

    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 Better Homes and Gardens Real Estate Executive Real Estate

    HighLights

    • Laundry in unit for your convenience.
    • Heat and hot water included in rent.
    • Features 2 bedrooms.
    • Includes 1 bathroom.
    • Located on Main Street.
    • Historic building (Year Built: 1850).

    Overview

    This rental opportunity is located on Main Street. The unit features 2 bedrooms and 1 bathroom. Laundry is available in the unit. Heat and hot water are included in the rent. The property size is 3184 square feet.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6373492
    Latitude
    41.5783806

    Nearby Similar for Lease

    • $4,000/Mo
      4,804 SF

      Route 66 Commercial Property

      Two-building commercial property on Route 66 with flexible uses.
      143 Marlborough St, Portland, CT 06480
      View Details
    • $1,738/Mo
      511 SF

      Studio Apartment in Brainerd Place

      Studio apartment with amenities in Portland's Brainerd Place.
      85 Marlborough St 416, Portland, CT 06480
      View Details
    • $4,500/Mo
      5,000 SF

      Prime Retail/Office Space Available

      5000 sqft retail/office space in high-traffic area.
      143 Marlborough Street, Portland, CT 06480
      View Details
    • $2,195/Mo

      First Floor Apartment with Amenities

      First floor apartment with modern amenities and convenient location.
      75 Marlborough St 224, Portland, CT 06480
      View Details
    • $1,600/Mo

      Downtown Portland 1-Bedroom Apartment

      Remodeled 1-bedroom apartment in downtown Portland with included utilities.
      252 Main St A 3, Portland, CT 06480
      View Details
    • $1,800/Mo

      Main Street Rental Opportunity

      Two-bedroom, one-bathroom rental unit on Main Street.
      324 Main St 3, Portland, CT 06480
      View Details
    • Contact for pricing
      72,002 SF

      Retail Space in New Development

      Retail space available in mixed-use development in Portland, Connecticut.
      Marlborough Street, Portland, CT, 06480
      View Details
    • $48 SF/Yr
      500 SF

      Retail Space in Portland, CT

      Retail space available for lease in Portland, Connecticut.
      850 Portland-Cobalt Rd, Portland, CT
      View Details
    • Contact for pricing
      4,602 SF

      New Mixed-Use Development Space

      Retail, restaurant, and office spaces available in Portland, Connecticut.
      185 Main St, Portland, CT
      View Details
    • Contact for pricing
      9,982 SF

      Retail and Restaurant Space Available

      Retail and restaurant spaces for lease in mixed-use development.
      25 Marlborough St, Portland, CT
      View Details
    • Contact for pricing
      5,244 SF

      New Mixed-Use Development Space

      Commercial spaces available in Portland, Connecticut's new town center.
      2 Perry Ave, Portland, CT
      View Details
    • Contact for pricing
      10,242 SF

      Mixed-Use Development Retail Space

      Retail, medical, and office spaces available in new town center.
      69 Marlborough St, Portland, CT
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Two-bedroom, one-bathroom unit with included heat and hot water.
    Where is this multifamily property located?
    The property is located at 324 Main Street Unit 3 Portland, CT.
    What is the lease rate?
    The lease rate is $1,800 /Mo.
    What are key features of this property?
    This property features: Laundry in unit for your convenience.; Heat and hot water included in rent.; Features 2 bedrooms.
    (860) 916-6048
    We can help!
    Listing Contact
    Amy Rio
    Amy Rio
    Real Estate License ID: 3334578
    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

    Thank You for Inquiry
    324 Main Street Unit 3, Portland, CT 06480
    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!