Add Listing
    For Sale
    • 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

    388 Main St Monroe, CT 06468

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $1,300,000

    Income-producing office property in Monroe's thriving business district.

    Property size:
    11,867 SF
    Lot size:
    0.62 Acres

    Property Features for 388 Main St

    General Information

    Standard status
    Contract
    Size
    11,867 SF
    Lot size
    0.62 Acres

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    Stephen Hodson
    Source: Corcoran

    Listing Agency: Hodson Realty, Inc. Listing Agent: Stephen Hodson

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

    Learn more

    Overview

    Fully Leased Office Investment Property

    This fully occupied, income-producing office property is located in the heart of Monroe's thriving business district. Situated on a busy section of Main Street, the property benefits from high visibility and strong traffic exposure, with approximately 19,000 cars passing by daily. The property is fully leased to seven established tenants, providing a diverse and balanced rent roll. Multiple improvements have been made to the facility. The location on Monroe's Main Street corridor is one of the area's busiest commercial routes. The property offers stable occupancy and a varied tenant mix, creating dependable income. The estimated annual income is $195,000. The property size is 11,867 square feet. The annual taxes are $13,799.
    Location Intelligence

    Current Use by Public Records

    Joseph P Ziehl ... Law Firm Value Four Big Box & Wholesale Store Knepler Driving Schools Training Center Allikai Spa Medical Clinic Team Four Foodservice Big Box & Wholesale Store

    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
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2621101
    Latitude
    41.31963

    Nearby Similar for Sale

    • $135,000
      700 SF

      444 Main Street, Monroe, CT 06468

      Coffee shops • 700 SF
      444 Main St, Monroe, CT 06468
      View Details
    • $1,300,000
      Pending

      Monroe Investment Office Property

      Fully occupied office property in Monroe's thriving business district.
      388 Main St, Monroe, CT 06468
      View Details
    • $95,000

      Refreshed Office Condominium Unit

      Functional and stylish office condominium with newer carpeting.
      324 Elm St, Monroe, CT 06468
      View Details
    • $895,000

      Mixed-Use Building with Retail Space

      Two-story building with retail and residential potential.
      605 Main St, Monroe, CT 06468
      View Details
    • $95,000

      Inviting Office Condominium Unit

      Functional and stylish office space in a convenient location.
      324 Elm St, Monroe, CT 06468
      View Details
    • $465,000
      Pending

      Jockey Hollow Road Property

      Property at 161 Jockey Hollow Rd, Monroe, CT 06468.
      161 Jockey Hollow Rd, Monroe, CT 06468
      View Details
    • $650,000
      Pending

      Specialty Property For Sale

      Specialty property available for purchase.
      124 Bagburn Rd, Monroe, CT 06468
      View Details
    • Contact for pricing
      10,560 SF

      NNN Leased Retail Investment Property

      Retail property with NAPA Auto Parts and Webster Bank tenants.
      495 Monroe Tpke, Monroe, CT 06468
      View Details
    • Contact for pricing
      7,500 SF

      Retail Property on Main Street

      Retail property available for sale on Main Street.
      656 Main St, Monroe, CT 06468
      View Details
    • Contact for pricing
      5,300 SF

      Retail Property in Monroe, CT

      Retail property available for sale in Monroe, Connecticut.
      143 Purdy Hill Rd, Monroe, CT 06468
      View Details
    • Contact for pricing
      4,166 SF

      Main Street Restaurant and Apartments

      Restaurant with apartments for sale on Main Street.
      171 Main St, Monroe, CT 06468
      View Details
    • $95,000
      589 SF

      Refreshed Office Condo Unit

      Functional and stylish office condo with newer carpeting and convenient location.
      324 Elm St, Monroe, CT 06468
      View Details

    FAQs

    What type of property is this?
    Office building - Income-producing office property in Monroe's thriving business district.
    Where is this office building located?
    The property is located at 388 Main St Monroe, CT.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Fully leased with seven established tenants, providing a diverse and balanced rent roll.; - Located on Monroe's Main Street with **high visibility** and strong traffic exposure (19,000 cars per day).; - Estimated annual income of $195,000.
    (203) 268-7743
    Request Owner's contact information
    388 Main St Monroe, CT 06468
    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.
    388 Main St
    Monroe, CT 06468
    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
    388 Main St Monroe, CT 06468
    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
    Stephen Hodson
    (203) 268-7743 (203) 260-1369
    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!