Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    21 Furnace St Killingly, CT 06239

    • Retail space
    • 3,930 SF
    • 0.06 lot acres
    For Sale
    View listing
    $600,000
    Last Sale
    Oct 22, 2024
    $340,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1034201
    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

    • CNA Bootcamp of CT / Nursing School / Medical School

    Property Details for 21 Furnace St

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Property size
    3,930 SF
    Zone code
    CBD
    Property type
    Retail space
    APN
    KILL M:198 B:144
    APU
    KILLM198B144

    Description

    This exceptional 2,280 square foot retail space is located in a beautifully renovated (2011) 4,150 square foot building in the heart of downtown Danielson, CT. Built in 1900, this iconic structure boasts unique architectural details, including beautiful woodwork and a charming design, making it one of Connecticut's most recognizable commercial properties. The space features a large reception area, front, side, and rear entrances, a private loft office, a cleverly concealed maintenance closet, and a full bathroom with a shower. Benefit from easy access to ample free public parking (70+ spaces) and extremely high year-round vehicle and foot traffic. Currently, there are tenants in place at below-market rents with upcoming lease renewals, offering an owner-occupant the potential for significant rental income to offset expenses. The central business district (CBD) zoning allows for a variety of uses, including but not limited to a dispensary, liquor store, restaurant, coffee shop, or specialty store. The entire building is also available for purchase. This is a truly unique opportunity to own or lease a piece of Connecticut history in a thriving downtown location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $340,000
      ML approach
      $340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $235,000
      Market price range: $218k - $526k

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

    Location Insight

    • Map
    • Local Demand
    City
    Killingly
    County
    Windham
    State
    Connecticut
    Longitude
    -71.8839
    Latitude
    41.8041
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-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
    $2,430
    $15,680
    $60,060
    $75,740
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $290,000
      12,824 SF

      13 Commerce Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,824 SF
      13 Commerce Ave, Killingly, CT 06239-2804
      View Details
    • Value Estimation
      $535,000
      22,534 SF

      134 Main St

      RETAIL STORES (PERSONAL SERVICES) • 22,534 SF
      134 Main St, Killingly, CT 06239
      View Details
    • Value Estimation
      $225,000
      6,994 SF

      157 Main St

      RETAIL STORES (PERSONAL SERVICES) • 6,994 SF
      157 Main St, Killingly, CT 06239-2814
      View Details
    • Value Estimation
      $455,000
      12,816 SF

      100 Main St

      RETAIL STORES (PERSONAL SERVICES) • 12,816 SF
      100 Main St, Killingly, CT 06239-2820
      View Details
    • Value Estimation
      $285,000
      3,743 SF

      181 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,743 SF
      181 Main St, Killingly, CT 06239-2815
      View Details
    • Value Estimation
      $340,000
      15,050 SF

      12 Furnace St

      RETAIL STORES (PERSONAL SERVICES) • 15,050 SF
      12 Furnace St, Killingly, CT 06239-3027
      View Details

    Similar Nearby for Sale

    • $600,000
      4,150 SF

      Downtown Danielson Retail Gem

      High-yield retail storefront, prime location
      21 Furnace St, Killingly, CT 06239
      View Details
    • $59,000

      Revitalized Downtown Business Opportunity

      Steel conex container in a thriving downtown location.
      14 Central St, Danielson, CT 06239
      View Details
    • $630,000

      Commercial Building in Danielson with Parking

      Versatile commercial building with storefronts and expansion potential.
      162 Main St, Danielson, CT 06239
      View Details
    • $1,100,000
      15,096 SF

      Downtown Killingly Mixed-Use Building

      Renovated mixed-use building in downtown Danielson with retail and office space.
      134 Main St, Killingly, CT 06239
      View Details
    • New
      $359,900
      Pending

      Mixed-Use Building on Main Street

      Mixed-use property with offices, apartments, and high visibility.
      239 Main St, Killingly, CT 06239
      View Details
    • $529,900
      4,592 SF

      High-Visibility Commercial Property in Killingly, CT

      Prime Commercial Space, Multi-Use Potential
      124 Westcott Rd, Killingly, CT 06239
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,275 SF

      Danielson Office/Retail Space Available

      Subdividable office/retail space in Killingly, near I-395.
      71 Westcott Rd, Killingly, CT 06239
      View Details
    • $2,000 /Mo
      3,930 SF

      Downtown Retail Space with Patio

      Retail space in downtown Danielson with high traffic and parking.
      21 Furnace St, Killingly, CT 06239
      View Details
    • $1,500 /Mo
      1,024 SF

      Office Space Available for Rent

      Office space for rent, 1024 square feet in Killingly.
      543B Wauregan Rd, Killingly, CT 06239
      View Details
    • $2,000 /Mo

      Remodeled Two-Bedroom Apartment for Rent

      Recently remodeled two-bedroom apartment with new appliances and hardwood floors.
      3 Water St, Danielson, CT 06239
      View Details
    • $1,200 /Mo

      Cozy Apartment Near Riverfront Shops

      One-bedroom apartment near riverfront shops and restaurants in Danielson, CT.
      47 Commerce Ave, Danielson, CT 06239
      View Details
    Request Owner's contact information
    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.
    21 Furnace St
    Killingly, CT 06239
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.