Property profile

245 Elm St Torrington, CT 06790

OFF-MARKET
Manufacturing properties
Property ID
US15-1295628
65,212 SF 1.6 ac lot Built 1900
Entity Owned 8-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1900
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 65,212 SF
Lot 1.6 ac (69,696 SF)
Zoning code LB
APN TORR M:125 B:006 L:011
UPID US15-1295628

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
  • Restaurant

Location

245 Elm St Torrington, CT 06790-5059
Torrington metro Census 310100 TORRINGTON, CT MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$825k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.49M
Blend (final) Blend
$825k

Owner & transaction history

since 2017
5 recorded transactions
2017
Price N/A
2016
$154,785
2014
$75,000
2013
$75,000
2011
Price N/A

Zoning & alternative use

LB · Torrington, CT
Zoning description

The intent of this zone is to promote local business uses.

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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