Add Listing
    For Sale
    • 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

    196 Main St Old Saybrook, CT 06475

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Old Saybrook location, multiple units available.

    Property size:
    1,225 SF

    Property Features for 196 Main St

    General Information

    Property type
    Day care centers
    Square Feet
    1,225 SF

    We can help!

    Listing Contact
    Matt Halprin
    Matt Halprin

    Listing Agency: New England Retail Properties Inc Listing Agent: Matt Halprin

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

    Learn more

    Property Insight Report

    Overview

    This exceptional Old Saybrook, Connecticut retail property, located at 196-210 Main Street (Route 154), offers a diverse range of leasing opportunities. The property encompasses a 5-acre lot with over 250 on-site parking spaces, ensuring ample convenience for tenants and customers. Currently, a thriving shopping center, it features a mix of established businesses including restaurants, a day care, fitness centers, and various retail shops. Available spaces range from 1,225 square feet to a maximum of 3,547 square feet, with the potential for division of larger units. A unique opportunity exists for a drive-thru bank branch on a build-to-suit or ground lease of a separate 1-acre pad site. The property boasts excellent visibility from Main Street (Route 154), benefiting from its central location in downtown Old Saybrook, a vibrant shoreline community with strong demographics. Its proximity to Interstate-95 (1 mile, 3-minute drive) provides easy access for both local and regional clientele. The existing tenants include Paperback Cafe, Fiore Pizzeria, Middletown Adult Education (two locations), The Dead Whale Tattoo Studio, Elegance Nails, Fantasia Consignments, SeaSalt Medical Aesthetics, AAA Insurance, AJ Noodle Bar, Achieve Wellness Chiropractic, BAM Fitness, and Rise Martial Arts. This property presents a compelling investment opportunity for businesses seeking a high-traffic location within a thriving community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Day care centers

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Saybrook
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.376194369503
    Latitude
    41.29202035302

    Nearby Similar for Sale

    • New
      $139,000
      Pending

      Updated Office Space in Saybrook

      Updated office space with parking near the center of town.
      123 Elm St, Old Saybrook, CT 06475
      View Details
    • $225,000
      2,400 SF

      Two-Unit Commercial Office Space

      Two-unit commercial office space for sale in Old Saybrook, CT.
      123 Elm St, Old Saybrook, CT 06475
      View Details
    • New
      $499,900

      Turn-Key Restaurant Opportunity

      Established restaurant and bar in Old Saybrook for sale.
      254 Main St, Old Saybrook, CT 06475
      View Details
    • $85,000
      900 SF

      Updated Office Space For Sale

      Turnkey office space with updated systems and ample parking.
      123 Elm St, Old Saybrook, CT 06475
      View Details
    • $990,000

      Old Saybrook Center Property

      Property available for sale in Old Saybrook Center.
      621 Boston Post Rd, Old Saybrook, CT 06475
      View Details
    • $664,900

      Old Saybrook Center Specialty Property

      Specialty property available for sale in Old Saybrook Center.
      21 Cottage Pl, Old Saybrook, CT 06475
      View Details
    • $1,900,000
      31,414 SF

      Industrial Property with Flexible Space

      Well-maintained industrial property with warehouse and office space for sale.
      55 Research Pkwy, Old Saybrook, CT 06475
      View Details
    • $615,000

      Old Saybrook Specialty Property

      Specialty property available for sale in Old Saybrook Center.
      18 Quarry St, Old Saybrook, CT 06475
      View Details
    • $925,000

      Lynde Street Specialty Property

      Specialty property available for sale in Old Saybrook Center.
      19 Lynde St, Old Saybrook, CT 06475
      View Details
    • $899,900

      Old Saybrook Specialty Property

      Specialty property available for sale in Old Saybrook, CT.
      7 Sharon Ln, Old Saybrook, CT 06475
      View Details
    • $699,900

      Ayers Point Road Property

      Property at 117 Ayers Point Rd, Old Saybrook, CT 06475
      117 Ayers Point Rd, Old Saybrook, CT 06475
      View Details
    • $1,075,000

      Saybrook Manor Specialty Property

      Specialty property available for sale in Saybrook Manor, CT.
      122 Old Post Rd, Old Saybrook, CT 06475
      View Details

    FAQs

    What type of property is this?
    Day care center - Prime Old Saybrook location, multiple units available.
    Where is this day care center located?
    The property is located at 196 Main St Old Saybrook, CT.
    What are key features of this property?
    This property features: Retail space available for lease in Old Saybrook, CT, ranging from 1,225 to 3,547 square feet.; A 1-acre pad site is available for build-to-suit or ground lease, ideal for a drive-thru bank.; Unit B9 offers up to 3,547 square feet, divisible into two 2,422 SF and 1,225 SF units, suitable for retail, medical, or other uses.
    (860) 729-6810 Call to check price and availability
    Request Owner's contact information
    196 Main St Old Saybrook, CT 06475
    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.
    196 Main St
    Old Saybrook, CT 06475
    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
    196 Main St Old Saybrook, CT 06475
    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 Matt Halprin
    Matt Halprin
    Real Estate License ID: 0292130
    (860) 729-6810 (860) 529-9000
    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!