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Property profile & analytics
OFF-MARKET Estimated value $580,000
Showrooms

8 Novelty Ln Essex, CT 06426-1168

3,004 SF 0.31 ac lot Built 1890
Individually Owned 8-yr Hold Free & Clear
Property ID
US15-0425564
Property summary
AI-generated overview

This exceptional 468-square-foot office space, located at 8 Novelty Lane in Essex, CT, offers a unique blend of historic charm and modern amenities. Situated on the second floor of a prestigious building, this single-tenant office boasts cathedral ceilings and expansive windows that bathe the space in natural light. Enjoy picturesque panoramic winter views of the Connecticut River. The building's unique entry foyer, adorned with nautical photographs and checkered tiles, sets a sophisticated tone. This location offers ample off-street parking and prominent signage opportunities at the main entrance. The quiet side-street location is conveniently close to three area yacht clubs, local marinas, shops, restaurants, galleries, coffee shops, banks, and the post office. Nearby cultural attractions include The Griswold Inn, Connecticut River Museum, and the Historic Steamboat Dock. The building, recipient of an AIA/CSA Design Award in 1987, is known for its desirable office spaces within the historic Village of Essex and the Connecticut River Valley. This space is ideal for professionals seeking a serene yet connected workspace within a vibrant community of architectural firms and yacht sales businesses. Lease terms are $1600 for the first year, $1650 for the second year, and $1700 for the third year.

Property profile
Verified
Property type Showrooms
Use group SHOW ROOM, WAREHOUSE
Year built 1890
Construction FRAME
Total area 3,004 SF
Lot 0.31 ac (13,504 SF)
APN ESSE M:47 B:032 L:01
UPID US15-0425564
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Roderic M Hartung Architects Architect
  • Samantha Steinmacher Counselor
  • Mc Cann William J MD Physician
  • Atlantic Intermediaries LLC Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$586k
Blend (final) Blend
$580k
Owner & transaction history
Thomas T B Brooks · 8 yrs held
Thomas T B Brooks
since 2018
1 recorded transaction
2018
$763,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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