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

    83 Center Street Ext, Unit 1 Southington, CT 06489

    View on Map
    New
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $19 SF/Yr ($2,512 /Mo)

    Street-level commercial space in a thriving downtown district.

    Property size:
    1,587 SF
    Lot size:
    0.47 Acres

    Property Features for 83 Center Street Ext

    General Information

    Standard status
    Active
    Size
    1,587 SF
    Lot size
    0.47 Acres

    Building Details

    Year built
    1880

    We can help!

    Listing Contact
    Ryan O'Keeffe
    Source: Corcoran

    Listing Agency: Salzillo Realty Company Listing Agent: Ryan O'Keeffe

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Prime Downtown Southington Retail Space

    This 1,587 SF street-level commercial space is located in downtown Southington. The unit offers visibility along Center Street and is suitable for a coffee shop, boutique retail concept, pilates or fitness studio, spa, medical or professional office, or specialty service use. The layout provides flexibility for various business types seeking a downtown presence in a walkable setting. The property is located in the heart of Southington's downtown district, near shops, restaurants, parks, walking trails, a dog park, and fitness facilities. It is located five minutes from I-84 (Exit 30) and I-691, providing access to Boston and New York City. The location benefits from regional draw. The town of Southington has a population of approximately 43,500 with an average household income of approximately $130,000. Luxury residential developments are transforming the area into a live-work-play destination.
    Location Intelligence

    Current Use by Public Records

    Retail space

    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
    -72.897728
    Latitude
    41.598399

    Nearby Similar for Lease

    • New
      $14 SF/Yr
      3,997 SF

      Southington Retail/Office Space Available

      Retail or professional office space for lease in Southington, CT.
      979 Meriden Waterbury Tpke, Southington, CT 06479
      View Details
    • New
      $650 /Mo
      288 SF

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen St, Southington, CT 06489
      View Details
    • New
      $600 /Mo
      246 SF

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building for lease.
      100 Queen St, Southington, CT 06489
      View Details
    • New
      $550 /Mo
      268 SF

      Southington Office Space For Lease

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

      Southington Office Space For Lease

      Office space in Southington Professional Office Building. Utilities included.
      100 Queen St, Southington, CT 06489
      View Details
    • New
      $1,650 /Mo
      1,180 SF

      Retail Space on Busy Route

      Retail space with high visibility and easy highway access.
      1783 Meriden Waterbury Tpke, Southington, CT 06489
      View Details
    • $5,366 /Mo
      Pending

      Versatile Commercial Space Near Queen Street

      Spacious, adaptable commercial space in a high-traffic Southington location.
      50 Spring St, Southington, CT 06489
      View Details
    • New
      $300 /Mo
      108 SF

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen St, Southington, CT 06489
      View Details
    • $18 SF/Yr
      11,985 SF

      Southington Retail Space Available

      11,985 SF retail space in Southington, Connecticut.
      350 Queen St, Southington, CT 06489
      View Details
    • $20 SF/Yr
      14,000 SF

      Downtown Southington Office Suite

      Office for Lease with Walk in Vault
      132 Main St, Southington, CT 06489
      View Details
    • New
      $18 SF/Yr
      1,989 SF

      Downtown Southington Retail Space

      Prime retail space in Southington's thriving downtown district.
      83 Center Street Ext, Southington, CT 06489
      View Details
    • New
      $17 SF/Yr
      6,465 SF

      Prime Downtown Southington Retail Space

      Expansive retail space in Southington's thriving downtown district.
      83 Center Street Ext, Southington, CT 06489
      View Details

    FAQs

    What type of property is this?
    Retail space - Street-level commercial space in a thriving downtown district.
    Where is this retail space located?
    The property is located at 83 Center Street Ext, Unit 1 Southington, CT.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: - Prime downtown Southington location with high visibility on Center Street; - 1,587 SF of street-level commercial space suitable for various business types; - High foot traffic and community engagement due to proximity to shops, restaurants, parks, and other amenities
    (203) 297-0849
    Request Owner's contact information
    83 Center Street Ext, Unit 1 Southington, CT 06489
    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.
    83 Center Street Ext, Unit 1
    Southington, CT 06489
    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
    83 Center Street Ext, Unit 1 Southington, CT 06489
    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

    We can help!
    Listing Contact
    Ryan O'Keeffe
    (203) 297-0849 (860) 637-1379
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!