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Property profile

123 Elm St 1 Old Saybrook, CT 06475

OFF-MARKET
Office Spaces
Property ID
US15-0897363
1,200 SF Built 1985
Entity Owned 11-yr Hold Free & Clear
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Property summary

AI-generated overview

This 3,600 square foot, two-story office space in Old Saybrook, CT, is available for lease. Located at 123 Elm Street, this Class B building, constructed in 1985 and renovated in 2019, offers a versatile layout ideal for coworking, creative offices, or executive suites. The space features a bright, open first floor with two large rooms suitable for training or conferencing, along with a kitchenette. The second floor boasts unique mid-century modern semi-circular workspaces, adaptable for individual or collaborative use. Interior walls are reconfigurable for maximum flexibility. Ample surface parking accommodates fourteen vehicles. The property includes a full-height basement for storage. Located near Old Saybrook's main retail corridor and a quarter-mile from I-95, this serene yet convenient location offers privacy and easy access. The lease includes all condominium fees and property taxes. An adjacent suite with three offices is also available for lease. The building has a 9-foot ceiling height and is zoned B-2. Power is 200 amps. There are no elevators. The property is situated on 0 acres of land with a building floor area ratio of 3,600. This space is perfect for a variety of businesses, including legal, financial, real estate, investment, accounting, and creative firms. Its proximity to the shoreline and commuter routes makes it an attractive option for city-based professionals with secondary residences in the area.

Property profile

Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 1985
Construction FRAME
Total area 1,200 SF
Zoning code B-2
APN OSAY M:036 B:059 L:U001
UPID US15-0897363

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Law Firm
  • Real Estate Agency
  • Construction Company General Contractor
  • Medical Clinic
  • Coworking & Hybrid Office

Location

123 Elm St, Unit 1 Old Saybrook, CT 06475-4108
Old Saybrook metro Census 670200 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$275k

Owner & transaction history

since 2015
4 recorded transactions
2015
Price N/A
2014
$137,500
2002
$70,000
1988
$125,000

Zoning & alternative use

B-2 · Old Saybrook, CT
Zoning description

one. 1. None. C. Townhouse TH Subzone. 1. None. D. Multi-family MF Subzone. 1. Saybrook Junction Multi-family MF Subzone. The Saybrook Junction Multi- family Subzone overlays that portion of the Shopping Center Business…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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