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    Property profile & analytics

    98 Main St Southington, CT 06489-2500

    • Office buildings
    • 25,480 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $1,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0465044
    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

    • Flair Restaurant & Bar / Restaurant
    • Comprehensive Orthopaedics: Biondino C Robert MD / Physician
    • Comprehensive Orthopaedics - SOUTHINGTON / Medical Clinic
    • Mix Fine Cakes & Pastries / Bakery / Take-out & Catering
    • Mr. Christopher Sortino / Foster Care Service / Social Service Agency

    Property Details for 98 Main St

    Year built
    1960
    Construction
    STEEL FRAME
    Lot size
    0.36 lot acres
    Property size
    25,480 SF
    Zone code
    CB
    Property type
    Office buildings
    APN
    SOUT M:100 L:066
    APU
    SOUTM100L066

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,851,000
      Market price range: $1.80M - $3.94M
      AI Estimate
      $2,023,000
      Market price range: $1.58M - $4.50M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,810,000
      Current use
      RETAIL STORES
      $2,930,000
      Change: +4% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $2,555,000
      Change: -9% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,410,000
      Change: -14% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,340,000
      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
    -72.8788
    Latitude
    41.6005
    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
    $33,028
    $95,440
    $992,430
    $1,087,870
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $645,000
      7,392 SF

      835 Queen St

      OFFICE BUILDING • 7,392 SF
      835 Queen St, Southington, CT 06489-1032
      View Details
    • Value Estimation
      $1,015,000
      11,480 SF

      941 Queen St

      OFFICE BUILDING • 11,480 SF
      941 Queen St, Southington, CT 06489-1234
      View Details
    • Value Estimation
      $810,000
      6,220 SF

      176 Laning St

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

      193 Main St

      OFFICE BUILDING • 3,246 SF
      193 Main St, Southington, CT 06489
      View Details
    • Value Estimation by Request
      3,066 SF

      101 Main St

      OFFICE BUILDING • 3,066 SF
      101 Main St, Southington, CT 06489-2513
      View Details
    • Value Estimation
      $675,000
      6,182 SF

      133 Main St

      OFFICE BUILDING • 6,182 SF
      133 Main St, Southington, CT 06489-2556
      View Details

    Similar Nearby for Sale

    • New
      Contact for pricing
      49,108 SF

      Southington Retail and Office Investment

      Multi-tenant retail and office property in Southington, Connecticut.
      29 N Main St, Southington, CT 06489
      View Details
    • Contact for pricing
      15,040 SF

      15,040 SF Industrial Building For Sale

      15,040 SF industrial building with warehouse and office space.
      213 Spring St, Southington, CT 06489
      View Details
    • $1,800,000
      15,920 SF

      Southington Commercial Building For Sale

      Renovated commercial building on high-visibility West Street in Southington.
      1650 West St, Southington, CT 06489
      View Details
    • $599,900
      1,896 SF

      Remodeled Office Building For Sale

      Extensively remodeled office building suitable for owner-user in revitalized downtown.
      100 Center Street Ext, Southington, CT 06489
      View Details
    • $1,800,000
      Pending

      Renovated Commercial Building on West Street

      Turn-key building with versatile layout, ideal for various uses.
      1650 West 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 N Main St, Southington, CT 06489
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Southington Office Building For Lease

      150,000± SF office building with renovated spaces for lease.
      200 Executive Blvd N, 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
    • $550 /Mo
      268 SF

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building available for lease.
      100 Queen St, Southington, CT 06489
      View Details
    • $600 /Mo
      246 SF

      Southington Office Space For Lease

      Prime office space in Southington Professional Office Building for lease.
      100 Queen St, Southington, CT 06489
      View Details
    • $650 /Mo
      288 SF

      Southington Professional Office Space

      Prime office space in Southington Professional Office Building for rent.
      100 Queen St #4, Southington, CT 06489
      View Details
    • $1,850 /Mo
      1,200 SF

      North Main Street Office Space

      Second floor office space in Southington, Connecticut.
      143 North Main St, Southington, CT 06489
      View Details
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    98 Main St
    Southington, CT 06489-2500
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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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