Technical
Financial
Distress signals
Property profile

248 Main St Farmington, CT 06032

FOR LEASE
Office buildings
Property ID
US15-0117758
5,800 SF 0.26 ac lot Built 1900
Individually Owned 6-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This newly constructed (2022) two-story creative office building in Farmington, CT, offers 4,550 square feet of versatile space, with 1,575 square feet currently available for lease. Located at 248 Main Street (06085), this high-visibility property boasts significant improvements over neighboring structures, including vastly improved fenestration for abundant natural light. The building features five total suites, with a minimum divisible space of 710 square feet and a maximum contiguous space of 865 square feet. Each suite includes its own private bathroom. The building benefits from all-new mechanical systems and technology, ensuring maximum efficiency and security. The connected parking lots at 240 and 244-248 Main Street provide ample parking and enhance the village atmosphere. The property is zoned B2 and sits on a 0.63-acre lot. Space sizes are customizable to meet a variety of professional office and service needs. This is a prime opportunity to lease in a newly renovated, high-quality office space in a desirable Farmington location. No elevators are present.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1900
Total area 5,800 SF
Lot 0.26 ac (11,326 SF)
Zoning code B2
APN FARM M:0129 B:6-11600248
UPID US15-0117758

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
  • Hair Salon
  • Hair Salon
  • Nail Salon
  • Insurance Agency

Location

248 Main St Farmington, CT 06032
Farmington metro Census 460204 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$629k
Blend (final) Blend
$350k

Owner & transaction history

since 2020
3 recorded transactions
2020
$284,000
1997
$450,000
1969
Price N/A

Zoning & alternative use

B2 · Farmington, CT
Top alternative use upside
Restaurant $990,000 +52.4%
Retail stores $670,000 +2.6%

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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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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