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

    521 Mill Street Southington, CT 6489

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Updated two-family property featuring a main house and attached apartment.

    Type:Multi-Family Rental
    Property size:
    1,955 SF
    Added:
    Apr 1, 2026
    Days on Market:
    24
    Last Refresh:
    Apr 20 at 8:53 pm

    Property Features for 521 Mill Street

    General Information

    Standard status
    Active
    Size
    1,955 SF
    Property subtype
    Multi-Family Rental

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    Carol Wanat
    Carol Wanat

    Listing agent Carol Wanat

    Listing office Rockoff Realty

    Listing date Apr 1, 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 Rockoff Realty

    Overview

    Spacious Two-Family Property with Updates

    This two-family property features a main house with updated kitchen including new base cabinets, counter tops, refrigerator, stove, and dishwasher. The main house also features freshly painted walls and refinished hardwood floors. The property includes a nice yard, attached garage, laundry hookups, a new, efficient boiler for heat, and a full basement for storage. The property is conveniently located close to highways, shopping, and restaurants. An attached one-bedroom apartment is also part of the property. Both units have separate utilities. The main house is heated with oil, while the apartment is heated with electric baseboard. The property size is 1955 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Southington
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8968465
    Latitude
    41.6038704

    Nearby Similar for Lease

    • $650/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $550/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $700/Mo

      Southington Office Space For Lease

      Office space in Southington Professional Office Building. Utilities included.
      100 Queen Street, Southington, CT 06489
      View Details
    • $600/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $1,150/Mo

      Southington Office Space For Rent

      Office space in a convenient location with flexible layout.
      176 N Main Street unit: 1F, Southington, CT 06489
      View Details
    • $300/Mo

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen Street, Southington, CT 06489
      View Details
    • $20 SF/Yr

      Southington Office/Medical Space Available

      Professional office/medical space for lease in a well-maintained building.
      27 Meriden Avenue unit: 1A, Southington, CT 06489
      View Details
    • $16 SF/Yr

      Southington Retail Space Available

      12,000 SF retail space in Southington, Connecticut.
      350 Queen Street, Southington, CT 06489
      View Details
    • $1,650/Mo

      Retail Space on Busy Route

      Retail space with high visibility and easy highway access.
      1783 Meriden Waterbury Turnpike unit: 11, Southington, CT 06489
      View Details
    • $20 SF/Yr

      Downtown Southington Office Suite

      Flexible commercial space in downtown Southington with elevator access.
      132 Main St, Unit Lower Level 1, Southington, CT 06489
      View Details
    • $1,500/Mo

      Downtown Southington Office Space

      Well-maintained office space in downtown Southington, all utilities included.
      133 Main St, Southington, CT 06489
      View Details
    • $750/Mo

      Renovated Downtown Office/Studio Space

      Flexible commercial space in a prime downtown location.
      132 Main St LL1, Southington, CT 06489
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated two-family property featuring a main house and attached apartment.
    Where is this duplex located?
    The property is located at 521 Mill Street Southington, CT.
    What are key features of this property?
    This property features: Updated kitchen featuring new cabinets, countertops, refrigerator, stove, and dishwasher.; Convenient location close to highways, shopping, and restaurants.; Two‑family property with a separate 1‑bedroom apartment for potential rental income.
    (860) 212-9333
    We can help!
    Listing Contact
    Carol Wanat
    Carol Wanat
    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!