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    350 South Main St, Unit 31 Cheshire, CT 06410
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    Property profile & analytics

    350 South Main St, Unit 31, Cheshire, CT 06410

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    • Office buildings
    • 6,728 SF
    • 1.00 lot acres
    For Lease
    $500/Mo
    View Listing →
    Office Space in Cheshire Location For Lease
    $500/Mo

    Office Space in Cheshire Location

    Office units available for rent in Cheshire, CT.

    350 South Main Street #31, Cheshire, CT 6410
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    Property ID
    US15-0785945
    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.
    Value Estimations
    $855,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Proto Francis R DDS / Dental Office
    • Kathleen A. Lieberman, LCSW / Physician
    • Marty L. Ernstoff, LMFT / Marriage Or Relationship Counselor
    • Cara C. Nappi, LPC / Counselor / Doctor
    • Adolescent & Family Counseling Center, LLC / Counselor

    Property Details for 350 South Main St

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.00 lot acres
    Zone code
    R-20A
    Property type
    Office buildings
    APN
    CHES M:64 B:290 L:
    APU
    CHESM64B290L

    Description

    This attractive 6,728 square foot office building, situated on a 1.09-acre lot at 350 South Main Street in the heart of Cheshire, CT, presents a compelling investment or owner-occupancy opportunity. Currently operating at 58% occupancy, the building boasts a diverse tenant mix including a counseling center, attorney's office, fitness zone, massage therapist, and wellness facility. The remaining 42% vacancy comprises two sizable office suites (1,060 sq ft and 907 sq ft) and additional individual spaces in the lower level, all currently available for lease. This presents a significant value-add opportunity for an investor to increase rental income or for an end-user to expand their business. The property is zoned R-20A, ensuring flexibility for a variety of commercial uses. The building is being sold "as is," providing the buyer with the opportunity to customize and enhance the property to their specific needs. Its prime location in Cheshire offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a high-traffic area with strong local presence. This is a rare opportunity to acquire a well-located, multi-tenant commercial building in a thriving Connecticut town.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $895,000
      ML approach
      $860,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $595,000
      Market price range: $499k - $1.05M
      AI Estimate
      $563,000
      Market price range: $354k - $1.05M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $745,000
      Current use
      RESTAURANT
      $985,000
      Change: +32% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $760,000
      Change: +1% Conversion: Easy
      RETAIL STORES
      $730,000
      Change: -2% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $705,000
      Change: -6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $610,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheshire
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.903
    Latitude
    41.4931
    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
    $13,384
    $117,830
    $263,580
    $381,410
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,250,000
      8,054 SF

      330 Main St

      OFFICE BUILDING
      330 Main St, Cheshire, CT 06410-3197
      View Details
    • Value Estimation by Request
      8,652 SF

      2055 Meriden Rd

      OFFICE BUILDING
      2055 Meriden Rd, Cheshire, CT 06410-1060
      View Details
    • Value Estimation
      $555,000
      2,182 SF

      2091 Highland Ave

      OFFICE BUILDING
      2091 Highland Ave, Cheshire, CT 06410-1219
      View Details
    • Value Estimation
      $4,900,000
      46,590 SF

      525 Knotter Dr

      OFFICE BUILDING
      525 Knotter Dr, Cheshire, CT 06410-1100
      View Details
    • Value Estimation
      $865,000
      3,955 SF

      219 Main St

      OFFICE BUILDING
      219 Main St, Cheshire, CT 06410-6300
      View Details
    • Value Estimation by Request
      2,204 SF

      577 Main St

      OFFICE BUILDING
      577 Main St, Cheshire, CT 06410-3146
      View Details

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      Multi-Use Building in Cheshire Center

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      Accessible Office Space in Cheshire

      First-floor office space in a professional building, Cheshire, CT.
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    Similar Nearby for Lease

    • $23 SF/Yr
      4,182 SF

      Cheshire Office/Medical Space Available

      Two-story office/medical building with ample parking and convenient highway access.
      1781 Highland Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building with suites available for lease.
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      View Details
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      Prime Cheshire Location, Suites Available

      Centrally located property with high accessibility and ample parking.
      286 Maple Ave, Cheshire, CT 06410
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      Adaptable Flex Space for Lease

      Flex space with parking and utilities near I-84 and I-691.
      Cheshire, CT 06410
      View Details
    • $18 SF/Yr
      48,636 SF

      Cheshire, CT Office Space for Lease

      6,190 SF Class A Office Suite Available
      1781 Highland Ave, Cheshire, CT 06410
      View Details
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    Cheshire, CT 06410
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    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
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