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

    51 Main St Southington, CT 06489

    • Office buildings
    • 25,725 SF
    • 0.59 lot acres
    For Lease
    View listing
    $5,400 /Mo
    Last Sale
    May 10, 2023
    $2,000,000
    Value Estimations
    $1,905,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0284310
    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

    • Will F. Epperson & Associates LLC / Tax Preparation Service
    • David J Meiners, LPC / Counselor
    • Casey's Image Consultants / Beauty Salon
    • Alkon Jack DDS / Dentist
    • Timeless Therapy - Melissa Glaser, MS, LPC - Therapist Southington CT Counseling / Counselor / Psychotherapist

    Property Details for 51 Main St

    Year built
    1920
    Construction
    FRAME
    Lot size
    0.59 lot acres
    Property size
    25,725 SF
    Zone code
    CB
    Property type
    Office buildings
    APN
    SOUT M:111 L:190
    APU
    SOUTM111L190

    Description

    This exceptional 9,062 square foot multi-tenant office building, located at 51 N Main St in Southington, CT 06489, offers 8 available suites ranging from 140 to 973 contiguous square feet. Currently, 5,048 square feet are vacant. The building is situated in the newly remodeled Abby Park, Abby South building, under new management. Each suite boasts modern amenities including private bathrooms and dedicated storage. The building features high ceilings, stunning hardwood floors, and a welcoming waiting area. This prestigious location in the heart of downtown Southington provides unparalleled convenience and a professional atmosphere, ideal for businesses seeking a sophisticated and comfortable workspace. The property is categorized as both Executive and Medical Office space, making it suitable for a variety of professional uses. The minimum divisible space is 140 square feet, offering flexibility for businesses of various sizes. This is a fantastic opportunity to establish or expand your business in a thriving downtown location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,935,000
      ML approach
      $1,975,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,818,000
      Market price range: $1.82M - $3.98M
      AI Estimate
      $1,598,000
      Market price range: $1.60M - $4.54M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,835,000
      Current use
      RETAIL STORES
      $2,960,000
      Change: +4% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,580,000
      Change: -9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,430,000
      Change: -14% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,365,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Southington
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8776
    Latitude
    41.6025
    CBSA code
    25540
    CBSA name
    HARTFORD-WEST HARTFORD-EAST HARTFORD, 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
    $24,151
    $101,350
    $694,130
    $795,480
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $320,000
      6,220 SF

      176 Laning St

      OFFICE BUILDING • 6,220 SF
      176 Laning St, Southington, CT 06489-1603
      View Details
    • Value Estimation
      $340,000
      3,246 SF

      193 Main St

      OFFICE BUILDING • 3,246 SF
      193 Main St, Southington, CT 06489
      View Details
    • Value Estimation
      $350,000
      3,066 SF

      101 Main St

      OFFICE BUILDING • 3,066 SF
      101 Main St, Southington, CT 06489-2513
      View Details
    • Value Estimation
      $260,000
      6,182 SF

      133 Main St

      OFFICE BUILDING • 6,182 SF
      133 Main St, Southington, CT 06489-2556
      View Details
    • Value Estimation
      $250,000
      1,464 SF

      35 Meriden Ave

      OFFICE BUILDING • 1,464 SF
      35 Meriden Ave, Southington, CT 06489
      View Details
    • Value Estimation
      $260,000
      6,269 SF

      1842 Meriden Waterbury Tpke

      OFFICE BUILDING • 6,269 SF
      1842 Meriden Waterbury Tpke, Southington, CT 06489
      View Details

    Similar Nearby for Sale

    • $675,000
      4,550 SF

      Two-Story Bank/Office Building For Sale

      Two-story bank/office building on Main Street, Southington, CT.
      22 Main St, Southington, CT 06489
      View Details
    • $725,000
      4,947 SF

      Versatile Mixed-Use Investment Opportunity

      Mixed-use property with office, residential, and garage spaces for sale.
      256 North Main St, Southington, CT 06489
      View Details
    • $1,800,000

      Renovated Commercial Building on West Street

      Turn-key building with versatile layout, ideal for office or showroom.
      1650 West St, Southington, CT 06489
      View Details
    • $190,000
      1,180 SF

      Southington Commercial Condo For Sale

      Commercial condo in busy plaza, easy access to highways.
      1783 Meriden Waterbury Tpke, Southington, CT 06489
      View Details
    • $450,000
      3,481 SF

      Versatile Office/Retail Space For Sale

      Office/Retail space with modern industrial charm, commuter access, parking.
      56 Center St, Southington, CT 06489
      View Details
    • $599,000

      Southington Specialty Property For Sale

      Specialty property available for purchase in Southington, Connecticut.
      922 Flanders Rd, Southington, CT 06489
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      5,064 SF

      Renovated Office Building For Rent

      Two-story office building with elevator and ample parking.
      72 Queen St, Southington, CT 06489
      View Details
    • $3,100,000
      12,054 SF

      Southington Office Space Available

      Office building in Southington, CT, available for lease.
      714-742 West St, Southington, CT 06489
      View Details
    • Contact for pricing
      32,732 SF

      Four-Story Office Building Available

      122,089 SF office building with covered parking.
      400 Executive Blvd, Southington, CT 06489
      View Details
    • $5,400 /Mo
      9,062 SF

      Southington Office Suites Available

      Prime downtown Southington office space.
      51 Main St, Southington, CT 06489
      View Details
    • $10 SF/Yr
      551 SF

      Southington Office Space Available

      Office suites and lower level space for lease in Southington.
      1-7 N Main St, Southington, CT 06489
      View Details
    • $1,300 /Mo

      Remodeled Office Space in Southington

      Office space with build-to-suit options in downtown Southington.
      51 North Main St, Southington, CT 06489
      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.
    51 Main St
    Southington, CT 06489
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.