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    453 West Main St Meriden, CT 06451
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    453 West Main St, Meriden, CT 06451

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    • Commercial real estate
    • 1.75 lot acres
    For Lease
    $175,000 SF/Yr
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    High-Traffic Corner Retail Opportunity For Lease
    $175,000 SF/Yr

    High-Traffic Corner Retail Opportunity

    Retail space on heavily trafficked corner, near major retailers.

    453 West Main Street, Meriden, CT 6451
    View Listing
    Property ID
    US15-0344835
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 453 West Main St

    Year built
    2025
    Lot size
    1.75 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.75-acre commercial land parcel, located at 453 W Main St, Meriden, CT 06451, presents a unique investment opportunity. Zoned C-2, this Class A property boasts a prime location at the heavily trafficked corner of West Main Street and Vine Street, offering 170 feet of frontage on West Main Street and 440 feet on Vine Street. The site benefits from excellent visibility and accessibility, abutting a new Taco Bell and situated directly across from a Walgreens, ensuring high daily traffic volume (12,700 vehicles per day). The property is serviced by city water, gas, and sewer. A proposed development plan outlines a 11,730 square foot building with a 2,000 square foot endcap featuring a drive-thru. This versatile land is ideal for a variety of commercial uses, offering significant potential for development and strong returns. The property is available for lease at $120,000 per year on a triple net (NNN) basis. Built in 2025, this site represents a rare opportunity to establish a thriving business in a high-demand area. Further details and showing arrangements can be made upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.818280012292
    Latitude
    41.540245374266

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      Prime Retail Space Available

      High-visibility retail space suitable for various businesses.
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    Similar Nearby for Lease

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      900 SF

      Three Bedroom Townhouse Style Unit

      Townhouse style unit with washer/dryer hookup and off-street parking.
      19 Goff St, Meriden, CT 06451
      View Details
    • $4,500 /Mo

      Established Auto Repair Shop Rental

      Auto repair shop in high-traffic area with dealership license.
      327 W Main St, Meriden, CT 06451
      View Details
    • Contact for pricing
      7,200 SF

      Freestanding Retail Building For Lease

      Former Aaron’s building available for lease.
      500 W Main St, Meriden, CT 06451
      View Details
    • $4,500 /Mo
      3,944 SF

      Meriden Auto Repair Shop Rental

      Established auto repair shop for rent in high-traffic Meriden corridor.
      327 West Main St, Meriden, CT 06451
      View Details
    • $5,000 /Mo
      1,600 SF

      Prime Retail Space Available

      High-visibility retail space suitable for various businesses.
      325 Chamberlain Hwy, Meriden, CT 06451
      View Details
    View Listing
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    453 West Main St
    Meriden, CT 06451
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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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