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    Freestanding Retail Building with Fitness Anchor Title is generated by Realmo AI

    469 East Main Street, Branford, CT 06405

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    For Sale
    $4,650,000

    Stabilized multi-tenant retail investment anchored by Planet Fitness with lease term and renewal options in place.

    Type:Commercial
    Property size:
    28,088 SF
    Price / SF:
    $165/SF
    Added:
    May 29, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 3 at 1:46 am

    Property Features for 469 East Main Street

    General Information

    Standard status
    Active
    Size
    28,088 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Nick Mastrangelo
    Nick Mastrangelo

    Listing agent Nick Mastrangelo

    Listing office Coldwell Banker Realty

    Listing date May 29, 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 Coldwell Banker Realty

    HighLights

    • 28,088 SF freestanding retail building built in 2005
    • Anchored by Planet Fitness with approximately eight years remaining on the current lease term
    • Lease includes multiple renewal options for additional long‑term tenancy
    • Multi‑tenant retail investment with a stated approximate 7.5% capitalization rate
    • Stabilized income structure described as secure income and long‑term market stability

    Overview

    469 East Main Street is a well-maintained, freestanding retail building offered as a stabilized, turn-key multi-tenant investment anchored by Planet Fitness. The property totals 28,088 square feet and is described as having a complementary mix of tenants, designed to support steady occupancy and predictable income. Planet Fitness is in place with approximately eight years remaining on its current lease term, along with multiple renewal options.

    The building is positioned along a high-visibility commercial corridor between New York City and Boston, benefiting from strong regional retail exposure. The property is also located in proximity to Yale University and Yale New Haven Hospital, which the offering cites as supporting long-term market stability and demand.

    For investors seeking durable cash flow, this asset combines a major fitness anchor with established tenancy and an income profile supported by remaining lease term and available renewals. The freestanding configuration and stabilized structure are suited to buyers looking for a relatively low-management investment opportunity in Connecticut’s retail market.
    Location Intelligence

    Current Use by Public Records

    Connecticut Orthopaedics Medical Clinic Connecticut Orthopaedics Sports ... Physician R3 Fitness Branford Gym & Fitness Center Jacqueline Murray Physician Dr. Louis J. ... Physician

    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.

    Similar Places Nearby

    • Ebb and Flo Wellness — 9 Business Park Dr Suite 5, Branford, CT 06405
    • Stony Creek Athletics — 9 Business Park Dr STE 10, Branford, CT 06405
    • Zane's Cycles — 330 E Main St, Branford, CT 06405
    • Dorothy Ruggiero, LMT — 328 E Main St, Branford, CT 06405, United States
    • Avant Garde Salon, New Age Boutique & Wellness Center — 328 E Main St, Branford, CT 06405

    Location Insight

    • Map
    • Local Demand
    City
    Branford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8473649
    Latitude
    41.2792374

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    FAQs

    What type of property is this?
    Fitness center & gym - Stabilized multi-tenant retail investment anchored by Planet Fitness with lease term and renewal options in place.
    Where is this fitness center & gym located?
    The property is located at 469 East Main Street Branford, CT.
    What is the asking price?
    The asking price for this property is $4,650,000.
    What are key features of this property?
    This property features: 28,088 SF freestanding retail building built in 2005; Anchored by Planet Fitness with approximately eight years remaining on the current lease term; Lease includes multiple renewal options for additional long‑term tenancy
    (203) 641-2100
    We can help!
    Listing Contact
    Nick Mastrangelo
    Nick Mastrangelo
    Learn More
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    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.

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