Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space For Rent Title is generated by Realmo AI

    642 Hilliard Street #1218, Manchester, CT 06042

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $950/Mo $17 SF/Yr (calc)

    Office unit available for lease, 670 square feet.

    Type:Commercial
    Property size:
    670 SF
    Lot size:
    3.06 Acres
    Added:
    Jul 17, 2024
    Days on Market:
    667
    Last Refresh:
    Apr 6 at 2:53 am

    Property Features for 642 Hilliard Street #1218

    General Information

    Standard status
    Active
    Size
    670 SF
    Lot size
    3.06 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1925

    We can help!

    Listing Contact
    LIZ DOLL

    Listing agent LIZ DOLL

    Listing office William Raveis Real Estate

    Listing date Jul 17, 2024

    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 William Raveis Real Estate

    HighLights

    • Office unit available for lease.
    • 670 square feet of space.
    • Year Built: 1925.

    Overview

    An office unit is available for rent, offering 670 square feet of space. The property is located on Hilliard Street in Manchester, Connecticut.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    2nd Bridge Brewing ... Production Facility Dr. Kim Andrews Psychotherapist Bean Behavioral Health Physician Katie Burdick, LLC Life Coach Control Station Inc (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5524988
    Latitude
    41.7844657

    Nearby Similar for Lease

    • $1,400/Mo

      Commercial Space in Manchester, CT

      Commercial space with high visibility suitable for various businesses.
      464 E Center Street, Manchester, CT 06040
      View Details
    • Contact for pricing

      Manchester Professional Office Space Available

      Professional office space in Manchester, CT, with flexible layouts.
      160 Chapel Rd, Manchester, CT 06042
      View Details
    • Contact for pricing

      Hilliard Mills Penthouse Office Suite

      Custom 3000+ sq ft professional office suite for rent.
      642 Hilliard St 2301, Manchester, CT 06040
      View Details
    • Contact for pricing

      Office Space in Hilliard Mills

      Office space available for rent in Manchester, Connecticut.
      642 Hilliard St 1314, Manchester, CT 06042
      View Details
    • $950/Mo

      Commercial Space Available For Rent

      Commercial space for rent with existing salon and spa tenants.
      521 Middle Tpke E, Manchester, CT 06040
      View Details
    • Contact for pricing

      Hilliard Mills Creative Space Available

      Creative space available in Hilliard Mills, Manchester, CT.
      642 Hilliard St 2220, Manchester, CT 06042
      View Details
    • Contact for pricing

      Hilliard Mills Office Space Available

      Office or production space available at Hilliard Mills.
      642 Hilliard St 2004, Manchester, CT 06040
      View Details
    • $1,400/Mo

      Versatile Commercial Space Available

      Commercial space suitable for various businesses, utilities included.
      464 East Center Street #B, Manchester, CT 06040
      View Details
    • $15 SF/Yr

      431 New State Road

      431 New State Rd, Manchester, CT 06042
      View Details
    • $810/Mo

      Creative Space in Hilliard Mills

      Creative space available for rent in Manchester, Connecticut.
      642 Hilliard Street #2220, Manchester, CT 06042
      View Details
    • $830/Mo

      Hilliard Mills Office Space

      Office suite for rent in Hilliard Mills.
      642 Hilliard Street #1203, Manchester, CT 06042
      View Details
    • $830/Mo

      Hilliard Mills Office Space

      Office space available for rent in Hilliard Mills.
      642 Hilliard St 1203, Manchester, CT 06042
      View Details

    FAQs

    What type of property is this?
    Office units - Office unit available for lease, 670 square feet.
    Where is this office units located?
    The property is located at 642 Hilliard Street #1218 Manchester, CT.
    What is the lease rate?
    The lease rate is $950 /Mo.
    What are key features of this property?
    This property features: Office unit available for lease.; 670 square feet of space.; Year Built: 1925.
    (860) 633-0111
    We can help!
    Listing Contact
    LIZ DOLL
    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

    Thank You for Inquiry
    642 Hilliard Street #1218, Manchester, CT 06042
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!