Sign Up Successful!
You now have access to more from Realmo!
    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

    199 Park Road Ext Middlebury, CT 06762

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Premium Office Space, 2,152-3,390 SF Available

    Lot size:
    5,542 SF

    Property Features for 199 Park Road Ext

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    5,542 SF

    Spaces For Lease

    at 199 Park Road Ext, Middlebury, CT 06762 Contact us
    Unit Available Space 1

    $15 /Mo

    Size
    2,152 SF
    Contact us
    Unit Available Space 3

    $15 /Mo

    Size
    3,390 SF
    Contact us

    We can help!

    Listing Contact
    Gerry Matthews
    Gerry Matthews

    Listing Agency: Matthews Commercial Properties Listing Agent: Gerry Matthews

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

    Learn more

    Property Insight Report

    Overview

    This exceptional office space, located in the prestigious former Timex World Headquarters at 199 Park Road Extension, offers two available suites ranging from 2,152 to 3,390 square feet. The property boasts a total of 7,787 square feet of vacant space, perfect for businesses seeking flexible and modern executive office accommodations. The building features a finished interior, rubber roof, sprinkler system, and ample asphalt paving. With 1,000 parking spaces available, convenient parking is ensured for employees and clients. The property is conveniently located alongside established businesses including Aldo's Restaurant, Comcast Spotlight offices, Next Street Driving School, Garmen International, J&L Medical, and Vitas Healthcare. Utilities include Eversource gas and electric (200 amps), town water, and town sewer. The lease rate is $15.00 per square foot, plus estimated net operating expenses of $4.52 per square foot. The property is zoned LI-80. This prime location offers a professional and established environment for your business to thrive. Multiple tenancy options are available, with a minimum divisible space of 2,152 square feet and a maximum contiguous space of 3,390 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Garmin - Middlebury (Bike/Boat/Book/etc) Store J & L MEDICAL ... Production Facility International Union of Operating ... Advocacy Group VITAS Healthcare Nursing Home Owandy Radiology - I-Max ... Medical Clinic

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Middlebury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0992623
    Latitude
    41.553139

    Nearby Similar for Lease

    • $6 SF/Yr
      278,000 SF

      Prime Middlebury Industrial Space

      Versatile flex space, warehouse, & distribution.
      199 Park Road Ext, Middlebury, CT 06762
      View Details
    • $19 SF/Yr
      32,708 SF

      Middlebury Medical Office Space For Lease

      Modern medical office suites available in prime location.
      765 Straits Tpke, Middlebury, CT 06762
      View Details
    • Contact for pricing
      32,000 SF

      Prime Middlebury Office Space

      32,000 SF Office Building Available
      765 Straits Tpke, Middlebury, CT 06762
      View Details
    • $17 SF/Yr
      4,611 SF

      Middlebury Executive Office Space

      4,835 SF Office, Move-In Ready
      1625 Straits Tpke, Middlebury, CT 06762
      View Details
    • $14 SF/Yr
      2,650 SF

      Executive Office Space in Middlebury, CT

      Prime Office Building, 2,650 SF Available
      984 Southford Rd, Middlebury, CT 06762
      View Details
    • $16 SF/Yr
      30,000 SF

      Village Square Executive Offices

      Middlebury, CT: Prime Office Suites Available
      530 Middlebury Rd, Middlebury, CT 06762
      View Details
    • $17 SF/Yr
      6,813 SF

      Middlebury Medical Office Space

      Class A Office Suites, 970-3673 sqft
      1625 Straits Tpke, Middlebury, CT 06762
      View Details
    • $14 SF/Yr
      1,000 SF

      Flexible Office & Retail Space

      Office and retail spaces available in Middlebury, near I-84.
      750 Straits Tpke, Middlebury, CT 06762
      View Details
    • $750 /Mo
      650 SF

      Remodeled Office Space For Rent

      Remodeled 650 square foot office space available for rent.
      1255 Middlebury Rd, Middlebury, CT 06762
      View Details
    • Contact for pricing
      6,106 SF

      Medical Office Building For Rent

      Turn-key medical office space available with convenient highway access.
      687 Straits Tpke, Middlebury, CT 06762
      View Details
    • Contact for pricing
      1,305 SF

      New Industrial Flex Space Available

      New construction industrial flex space for lease with easy access.
      80 Turnpike Dr, Middlebury, CT 06762
      View Details
    • Contact for pricing
      400 SF

      Professional Office Space Available

      Office suites available in well-maintained plaza with utilities included.
      900 Straits Tpke, Middlebury, CT 06762
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Premium Office Space, 2,152-3,390 SF Available
    Where is this office property / space located?
    The property is located at 199 Park Road Ext Middlebury, CT.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Two executive office suites available, ranging from 2,152 to 3,390 square feet.; Located in the former Timex World Headquarters.; Building features tenants including Aldo's Restaurant, Comcast, and several other businesses.
    (203) 753-5800 Call to check price and availability
    Request Owner's contact information
    199 Park Road Ext Middlebury, CT 06762
    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.
    199 Park Road Ext
    Middlebury, CT 06762
    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
    199 Park Road Ext Middlebury, CT 06762
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gerry Matthews
    Gerry Matthews
    Real Estate License ID: REB.0754503
    (203) 753-5800 (203) 509-9512
    Learn more
    Google sign-in failed. Please try again or use another login method.