257 Main St Torrington, CT 06790-5206
- Office buildings
- 7,238 SF
- 0.26 lot acres
Current Use by Public Records
- Smith Keefe Moraghan Waterfall / Attorney
- Bowen Agency / Insurance Agency
- Coldwell Banker / Real Estate Agency
- Law Offices of Mark E. Salomone & Morelli / Law Firm / Personal Injury Attorney
- Benhamm Place / Social Services Organization
Property Details for 257 Main St
- Year built
- 1955
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.26 lot acres
- Property size
- 7,238 SF
- Zone code
- DD
- Property type
- Office buildings
- APN
- TORR M:118 B:010 L:006
- APU
- TORRM118B010L006
Description
This exceptional 7,283 sq ft, two-story creative office building in downtown Torrington, CT, presents a compelling value-add investment opportunity. Boasting a 7.80% cap rate and 100% occupancy across 16 units, the property enjoys an extremely high-traffic location (16,000 VPD) with excellent visibility near City Hall. A comprehensive 2024 renovation eliminated deferred maintenance, including a new roof, HVAC systems, flooring, LED lighting, energy-efficient windows, and upgraded security systems. The building features city water/sewer and gas. Currently leased to a diverse tenant mix (lawyers, healthcare professionals, etc.), this property offers significant value-add potential through lease adjustments and potential rooftop development. Its prime location near Charlotte Hungerford Hospital and the Litchfield County Courthouse ensures strong tenant demand. The low operating costs and stable income stream make this an ideal investment for passive income generation with minimal landlord responsibilities. The property is zoned DD and sits on a highly visible corner lot with ample private parking. Built in 1955, this Class B multi-tenant building offers a rare combination of strong cash flow and future upside.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $480,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $640,000
- 6.5%
- $620,000
- 7%
- $625,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $620,000
- Geo Method
- $535,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $585,000
- Retail
- $605,000
- Mixed-Use
- $625,000
- Hospitality
- $560,000
- Educational
- $485,000
- Residential Income
- $540,000
- Energy
- $635,000
- Income-Based Land
- $495,000
- Food Service
- $610,000
Location Insight
- Map
- Local Demand
- City
- Torrington
- County
- Litchfield
- State
- Connecticut
- Longitude
- -73.1215
- Latitude
- 41.8057
- CBSA code
- 45860
- CBSA name
- TORRINGTON, CT MICROPOLITAN STATISTICAL AREA
