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    6 Storrs Rd Mansfield, CT 06226

    Sponsored
    For Sale
    $1,895,000

    Multi-tenant office building, value-add opportunity.

    Property size:
    15,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This 15,000 square foot, three-story office building located at 6 Storrs Road (Route 195) in Mansfield, Connecticut presents a compelling value-add investment opportunity. The property, built in 1975 and renovated in 2018, features a mix of creative and medical office spaces, currently boasting 96% occupancy across six units. KeyBank, a credit-rated tenant, occupies a significant portion of the building, recently exercising a lease option for a five-year term commencing January 1, 2026, with an additional five-year option including rent increases. The remaining tenants are currently under market rent, offering significant upside potential. The property sits on a 0.5-acre lot and is zoned PB1. With a Class B rating and a Net NNN lease structure, this investment offers a strong foundation for future growth. The building's proximity to East Brook Mall, the Windham town line, and the University of Connecticut and Eastern Connecticut State University provides excellent visibility and access to a robust talent pool. The potential for redevelopment of the upper floor into residential units in a high-demand rental market further enhances the property's long-term value. The asking price is $1,895,000, translating to $123.86 per square foot. The property includes five tenants with a total of 6.1 years remaining on their leases.

    Property Features for 6 Storrs Rd

    General Information

    Property type
    Medical offices
    Square Feet
    15,300 SF
    Class
    B
    Lot Size
    21,780 SF

    Building Details

    Year Built/Renovated
    1975/2018
    Buildings
    1
    Stories
    3
    Units
    6
    Property Profile Location Intelligence

    Current Use by Public Records

    Coinstar Money Transfer Service Lash House Beauty ... Beauty Salon Tiffany B Beauty ... Permanent Make-Up Clinic

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.201507453147
    Latitude
    41.728445505282

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    FAQs

    What type of property is this?
    Medical office - Multi-tenant office building, value-add opportunity.
    Where is this medical office located?
    The property is located at 6 Storrs Rd Mansfield, CT.
    What is the asking price?
    The asking price for this property is $1,895,000.
    Request Owner's contact information
    6 Storrs Rd Mansfield, CT 06226
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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
    6 Storrs Rd Mansfield, CT 06226
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