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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    253 Prospect St Naugatuck, CT 06770-3118

    • Office buildings
    • 2,870 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0601543
    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

    • Naugatuck Window & Glass / General Contractor / Renovation Specialist

    Property Details for 253 Prospect St

    Year built
    1956
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    2,870 SF
    Zone code
    R8
    Property type
    Office buildings
    APN
    NAUG M:041 L:2700
    APU
    NAUGM041L2700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Naugatuck
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0367
    Latitude
    41.5029
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, 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
    $8,943
    $82,670
    $117,180
    $199,850
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,250,000
      25,400 SF

      100 Prospect St

      OFFICE BUILDING • 25,400 SF
      100 Prospect St, Naugatuck, CT 06770-3075
      View Details
    • Value Estimation by Request
      5,633 SF

      159 Mdw St

      OFFICE BUILDING • 5,633 SF
      159 Mdw St, Naugatuck, CT 06770-4042
      View Details
    • Value Estimation by Request
      784 SF

      1487 New Hvn Rd

      OFFICE BUILDING • 784 SF
      1487 New Hvn Rd, Naugatuck, CT 06770
      View Details
    • Value Estimation by Request
      3,240 SF

      270 Church St

      OFFICE BUILDING • 3,240 SF
      270 Church St, Naugatuck, CT 06770-4122
      View Details
    • Value Estimation by Request
      1,752 SF

      331 Church St

      OFFICE BUILDING • 1,752 SF
      331 Church St, Naugatuck, CT 06770-2806
      View Details
    • Value Estimation
      $1,265,000
      18,168 SF

      174 Church St

      OFFICE BUILDING • 18,168 SF
      174 Church St, Naugatuck, CT 06770-4120
      View Details

    Similar Nearby for Sale

    • $600,000
      93.78 Acres

      93 Acres Naugatuck Development Land

      Prime Naugatuck land, 93.78 acres, high development potential.
      93 Andrew Mountain Rd, Naugatuck, CT 06770
      View Details
    • $545,000
      3,356 SF

      Naugatuck Commercial Building - High ROI

      Versatile Commercial Property, Multiple Income Streams
      734 Rubber Ave, Naugatuck, CT 06770
      View Details
    • $649,000
      8,320 SF

      Wheaton Executive Office Suites

      Modern Suites, Flexible Lease Terms
      600 Prospect St, Naugatuck, CT 06770
      View Details
    • $900,000

      Naugatuck Industrial Land For Sale

      3.5 acres of level land suitable for industrial uses.
      Sheridan Dr, Naugatuck, CT 06770
      View Details
    • $40,000

      Vacant Lot Near Amenities

      Vacant lot with utilities near shopping and highway access.
      8 Pond St, Naugatuck, CT 06770
      View Details
    • $450,000

      Former Funeral Home on Route 63

      Well-maintained building with high visibility and many potential uses.
      201 Meadow St, Naugatuck, CT 06770
      View Details

    Similar Nearby for Lease

    • $1,100 /Mo
      700 SF

      Naugatuck Retail/Office Space Available

      700 SF retail/office space in a high-traffic Naugatuck location.
      628 New Haven Rd, Naugatuck, CT 06770
      View Details
    • $15 SF/Yr
      1,272 SF

      Naugatuck Office Space For Rent

      Versatile office space in a dynamic downtown location.
      175 Church St, Naugatuck, CT 06770
      View Details
    • $1,300 /Mo
      1,225 SF

      Naugatuck Commercial Space Available

      Multiple commercial spaces available for rent in Naugatuck, CT.
      1183 New Haven Rd, Naugatuck, CT 06770
      View Details
    • $2,500 /Mo

      Downtown Naugatuck Retail/Office Space

      Retail or office space in revitalizing downtown Naugatuck.
      158 Church St, Naugatuck, CT 06770
      View Details
    • $2,950 /Mo
      3,000 SF

      Naugatuck Office Space Available

      Office space for lease in professional building with ample parking.
      1183 New Hvn Rd Unit, Naugatuck, CT 06770
      View Details
    • $18 SF/Yr
      2,200 SF

      Naugatuck Commercial Storefront For Lease

      Prime commercial space in revitalizing downtown Naugatuck, excellent visibility.
      175 Church St, Naugatuck, CT 06770
      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.
    253 Prospect St
    Naugatuck, CT 06770-3118
    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.