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

    40 Union City Road Prospect, CT 6712

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,250 /Mo

    1,200 SF commercial bay available for lease.

    Type:Commercial
    Property size:
    1,200 SF
    Lot size:
    7.72 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    65
    Last Refresh:
    Mar 26 at 2:37 am

    Property Features for 40 Union City Road

    General Information

    Standard status
    Active
    Size
    1,200 SF
    Lot size
    7.72 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    MICHAEL GUASTAFERRI

    Listing agent MICHAEL GUASTAFERRI License #REB.0791907

    Listing office MAG Investments LLC

    Listing date Jan 27, 2026

    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 MAG Investments LLC

    Overview

    Prospect Commercial Bay For Lease

    A 1,200 square foot commercial bay is available for lease in Prospect. The space includes a 10-foot garage door and a half bath. Propane warm air heat is provided. The tenant is responsible for monthly rent, utilities, and a pro rata share of snow plowing during the winter. The intended use is for clean operations only, with no mechanical work permitted.
    Location Intelligence

    Current Use by Public Records

    Nikochic Salon Hair Salon R.I.S.E. Fitness Gym & Fitness Center Union City Crossfit Gym & Fitness Center The Speed Center Gym & Fitness Center Performance Lab CT Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Prospect
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9857
    Latitude
    41.5058

    Nearby Similar for Lease

    • Contact for pricing

      Office Space in Prospect, CT

      Small office space with high visibility and convenient highway access.
      6 New Haven Road unit: 10, Prospect, CT 06712
      View Details
    • Contact for pricing

      Small Office in Quiet Area

      Office space with high visibility and convenient highway access.
      6 New Haven Road #10, Prospect, CT 06712
      View Details
    • Contact for pricing

      Charming Office Space, Prospect CT

      Office space with high visibility in Prospect, CT.
      31 Waterbury Road, Prospect, CT 06712
      View Details
    • Contact for pricing

      Retail/Office Space in Prospect

      Retail or office space available on busy RT 68.
      94 Union City Rd, Prospect, CT
      View Details
    • Contact for pricing

      Adaptable Commercial Space Available Now

      Spacious commercial suite with flexible layout, utilities included, ample parking.
      158 Waterbury Road, Prospect, CT 06712
      View Details
    • $9/mo

      Warehouse with Office and Generator

      12,100 SF warehouse with office, loading docks, and generator.
      60 Scott Rd, Prospect, CT
      View Details
    • Contact for pricing

      Warehouse Space for Rent

      Warehouse space with one drive-in door, heat included.
      123 Union City Rd, Prospect, CT 06712
      View Details
    • Contact for pricing

      Furnished Office Space Available

      Affordable, furnished office spaces for lease with separate utilities.
      33 Union City Rd, Prospect, CT
      View Details
    • Contact for pricing

      Office Space Available For Rent

      Office space available for lease in Prospect, Connecticut.
      115 Waterbury Rd, Prospect, CT
      View Details
    • Contact for pricing

      Industrial Space Available For Rent

      Single tenant industrial space available, totaling 1,525 square feet.
      32 Industrial Rd, Prospect, CT 06712
      View Details
    • Contact for pricing

      Retail/Office Space on RT 68

      Retail or office space available on busy RT 68.
      94 Union City Rd, Prospect, CT 06712
      View Details

    FAQs

    What type of property is this?
    Flex space - 1,200 SF commercial bay available for lease.
    Where is this flex space located?
    The property is located at 40 Union City Road Prospect, CT.
    What is the lease rate?
    The lease rate is $1,250 /Mo.
    What are key features of this property?
    This property features: 1,200 sq ft commercial bay in Prospect.; 10 ft garage door for easy access.; Tenant only pays rent, utilities, and snow plowing pro rata share.
    (203) 758-5180
    We can help!
    Listing Contact
    MICHAEL GUASTAFERRI
    Real Estate License ID: REB.0791907
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!