245 Elm St Torrington, CT 06790-5059
- Manufacturing properties
- 65,212 SF
- 1.60 lot acres
Current Use by Public Records
- Vinny's Restaurant & Pizza / Italian Restaurant / Pizza Restaurant
Property Details for 245 Elm St
- Year built
- 1900
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.60 lot acres
- Property size
- 65,212 SF
- Zone code
- LB
- Property type
- Manufacturing properties
- APN
- TORR M:125 B:006 L:011
- APU
- TORRM125B006L011
Description
This exceptional 60,000 square foot industrial property, situated on 1.67 acres in desirable Downtown Torrington, offers unparalleled flexibility for a diverse range of businesses. Built in 1900 and extensively renovated in 2024, the building boasts three floors of customizable space, ranging from 4,000 to 50,000 square feet. Each floor features expansive open layouts with impressive 14-foot ceilings, providing ample room for creative design and efficient workflow. The property's strategic location ensures high visibility and accessibility, benefiting from a significant daily traffic count. Three convenient drive-in loading bays and a freight elevator facilitate seamless logistics, while ample parking caters to both employees and customers. The property's zoning allows for a wide array of uses, including but not limited to restaurants, bars, entertainment venues (arcades, escape rooms), fitness centers, art studios, educational facilities, large salons, and various retail or medical businesses. This is a rare opportunity to secure a prime industrial space in a thriving downtown location, perfectly suited for businesses seeking a unique and adaptable environment. The property's recent renovation ensures modern amenities and functionality, making it an ideal choice for companies looking to establish a strong presence in the heart of Torrington.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $825,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $740,000
- 6.5%
- $820,000
- 7%
- $755,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $860,000
- Geo Method
- $750,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $845,000
- Retail
- $780,000
- Mixed-Use
- $710,000
- Hospitality
- $850,000
- Educational
- $710,000
- Residential Income
- $800,000
- Energy
- $765,000
- Income-Based Land
- $640,000
- Food Service
- $820,000
Location Insight
- Map
- Local Demand
- City
- Torrington
- County
- Litchfield
- State
- Connecticut
- Longitude
- -73.1162
- Latitude
- 41.8088
- CBSA code
- 45860
- CBSA name
- TORRINGTON, CT MICROPOLITAN STATISTICAL AREA
