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    21 Furnace St Killingly, CT 06239

    Sponsored
    For Sale
    $600,000

    High-yield retail storefront, prime location

    Property size:
    4,150 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Class A, 4,150 square foot retail storefront at 21 Furnace Street in Killingly, CT, presents a compelling owner-user opportunity. Currently boasting 100% occupancy with two tenants, the property generates a strong NOI of $33,289, representing a 5.55% cap rate. However, with below-market rents and upcoming lease renewals in February 2025, a significant pro-forma NOI of $73,889 and a 12.31% cap rate are projected. Built in 1900 and renovated in 2011, this two-story building features stunning woodwork, 16-foot ceilings, new windows, and a unique design, making it one of the most recognizable commercial properties in Connecticut. The property includes a large reception area, front, side, and rear entrances, a private loft office, and a full bathroom. Conveniently located in the heart of downtown Danielson's Central Business District (CBD), it benefits from high year-round vehicle and pedestrian traffic and ample free public parking (70+ spaces). The 0.06-acre lot offers significant potential for a variety of uses, including a dispensary, liquor store, restaurant, coffee shop, or specialty store. The asking price is $600,000. The upper level (2,280 sq ft) is available for lease.

    Property Features for 21 Furnace St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,150 SF
    Class
    A
    Lot Size
    2,614 SF

    Building Details

    Year Built/Renovated
    1900/2011
    Stories
    2
    Units
    2

    HighLights

    • 2,280 SF of space available for lease on the top floor in downtown Danielson at 21 Furnace Street.
    • Owner‑user opportunity with immediate cash flow from the lower level's existing tenants.
    • Low operating costs due to gas‑fueled central air and a low mill rate.
    • Features stunning woodwork, 16‑foot ceilings, and new windows.
    Property Profile Location Intelligence

    Current Use by Public Records

    CNA Bootcamp of CT Nursing School

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Killingly
    County
    Windham
    State
    Connecticut
    Longitude
    -71.8839302
    Latitude
    41.8041617

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    FAQs

    What type of property is this?
    Individual retail property - High-yield retail storefront, prime location
    Where is this individual retail property located?
    The property is located at 21 Furnace St Killingly, CT.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: 2,280 SF of space available for lease on the top floor in downtown Danielson at 21 Furnace Street.; Owner-user opportunity with immediate cash flow from the lower level's existing tenants.; Low operating costs due to gas-fueled central air and a low mill rate.
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    Killingly, CT 06239
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    Realmo Value Estimation

    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.

    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.

    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
    21 Furnace St Killingly, CT 06239
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