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    Property profile & analytics

    115 Main St Seymour, CT 06483

    • Banks
    • 12,980 SF
    • 0.43 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Value Estimations
    $450,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0518039
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • True Health Chiropractic - Seymour Office / Chiropractor
    • Migdalia LMT / Massage Therapist
    • The Vault Virtual Reality Center / Video Arcade
    • Kathleen Odonnell / Social Worker / Practitioner Service Location
    • The Vault Academics / Day Care Center

    Property Details for 115 Main St

    Year built
    1922
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.43 lot acres
    Property size
    12,980 SF
    Zone code
    CBD1
    Property type
    Banks
    APN
    SEYM M:10-1-0 L:54
    APU
    SEYMM1010L54

    Description

    This exceptional commercial property, located at 115/124 Main Street in Seymour, Connecticut, offers a unique blend of office and warehouse space ideal for a variety of businesses. The property boasts a total of 12,980 square feet, with 5,000 square feet currently available for lease. The building features a flexible layout suitable for both executive office space and warehouse operations, making it an excellent choice for companies requiring a combined workspace. The high ceilings, measuring 20 inches plus, provide ample vertical space for storage or specialized equipment within the warehouse area. The property sits on a 0.8-acre lot and is zoned CBD1, offering significant potential for various commercial uses. Parking is readily available with 21 or more dedicated spaces for tenants and their clients. The property is located in New Haven County, Connecticut, with easy access to major transportation routes, making it a convenient location for employees and clients alike. The single-tenant occupancy provides a private and secure environment for your business operations. This is a rare opportunity to secure a versatile and well-located commercial property in the thriving Seymour market. Inquire today to learn more about leasing this exceptional space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $673,000
      Market price range: $674k - $1.71M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Seymour
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0735
    Latitude
    41.3948
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,929
    $51,870
    $640,990
    $692,860
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      2,570 SF

      15 New Hvn Rd

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      15 New Hvn Rd, Seymour, CT 06483-3404
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    • Value Estimation
      $255,000
      1,122 SF

      20 1st St

      FINANCIAL BUILDING • 1,122 SF
      20 1st St, Seymour, CT 06483
      View Details
    • Value Estimation
      $405,000
      10,020 SF

      249 Ww St

      FINANCIAL BUILDING • 10,020 SF
      249 Ww St, Seymour, CT 06483-2650
      View Details
    • Value Estimation
      $270,000
      1,280 SF

      249 Bank St

      FINANCIAL BUILDING • 1,280 SF
      249 Bank St, Seymour, CT 06483-2742
      View Details
    • Value Estimation
      $275,000
      1,457 SF

      167 Ww St

      RETAIL STORES (PERSONAL SERVICES) • 1,457 SF
      167 Ww St, Seymour, CT 06483
      View Details
    • Value Estimation
      $265,000
      4,720 SF

      768 Derby Ave

      SHOW ROOM, WAREHOUSE • 4,720 SF
      768 Derby Ave, Seymour, CT 06483-2412
      View Details

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    Similar Nearby for Lease

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    115 Main St
    Seymour, CT 06483
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    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
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