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    Apartment Building with On-Site Laundry Title is generated by Realmo AI

    61 Colony St 3C, Meriden, CT 06451

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    New
    For Lease
    $1,795 /Mo

    One- and two-bedroom rentals with on-site laundry and walkable access to shopping, dining, and nearby transit.

    Type:Multi Family
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 2:02 am

    Property Features for 61 Colony St 3C

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1921

    We can help!

    Listing Contact
    Yvonne Bailey

    Listing agent Yvonne Bailey License #REB.0794372

    Listing office I'Lann Realty, LLC

    Listing date Jun 3, 2026

    Source Elliman

    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 I'Lann Realty, LLC

    HighLights

    • One- and two‑bedroom rental apartments in downtown Meriden (Year Built: 1921)
    • On‑site laundry facilities for residents
    • Walkable access to local shops and dining
    • Close to the Meriden train station for commuting
    • Accessibility metrics: Walk Score 81, Bike Score 48, Transit Score 40

    Overview

    This apartment building offers one- and two-bedroom residences designed for modern living. The community includes on-site laundry facilities, making everyday routines more convenient. Units are set up for comfortable, straightforward living with space that can suit a range of renter needs.

    Located in Downtown Meriden, the building places residents within easy reach of local shops and dining. It is also near the Meriden train station, which can support a hassle-free commute for those who rely on transit. WalkScore data indicates the area is very walkable, with additional bike and transit scores provided.

    The available apartments may be a good fit for tenants looking for a downtown-oriented lifestyle without giving up practical on-site amenities like laundry. With nearby retail and dining options plus proximity to train service, the layout and location can support day-to-day convenience for commuters and local residents alike. To confirm availability and tour options, prospective renters should schedule a showing with the leasing team.
    Location Intelligence

    Current Use by Public Records

    I'Lann Properties, LLC Real Estate Agency Child Care Connection Daycare Center I'Lann Realty Real Estate Agency Eric Rice Marriage Or Relationship Counselor Fukami Mizuno Marriage Or Relationship Counselor

    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
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8012251
    Latitude
    41.5397204

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    FAQs

    What type of property is this?
    Apartment building - One- and two-bedroom rentals with on-site laundry and walkable access to shopping, dining, and nearby transit.
    Where is this apartment building located?
    The property is located at 61 Colony St 3C Meriden, CT.
    What is the lease rate?
    The lease rate is $1,795 /Mo.
    What are key features of this property?
    This property features: One- and two‑bedroom rental apartments in downtown Meriden (Year Built: 1921); On‑site laundry facilities for residents; Walkable access to local shops and dining
    (860) 930-4050
    We can help!
    Listing Contact
    Yvonne Bailey
    Real Estate License ID: REB.0794372
    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.

    More about this property
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    61 Colony St 3C, Meriden, CT 06451
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