123 Elm StOld Saybrook, CT 06475

Property Details for 123 Elm St

Year built

1985

Construction

FRAME

Property size (Sq ft)

1,200 SF

Zone code

B-2

Property type

Office properties

APN

OSAY M:036 B:059 L:U001

APU

OSAYM036B059LU001

Description

This 3,600 square foot, two-story office space in Old Saybrook, CT, is available for lease. Located at 123 Elm Street, this Class B building, constructed in 1985 and renovated in 2019, offers a versatile layout ideal for coworking, creative offices, or executive suites. The space features a bright, open first floor with two large rooms suitable for training or conferencing, along with a kitchenette. The second floor boasts unique mid-century modern semi-circular workspaces, adaptable for individual or collaborative use. Interior walls are reconfigurable for maximum flexibility. Ample surface parking accommodates fourteen vehicles. The property includes a full-height basement for storage. Located near Old Saybrook's main retail corridor and a quarter-mile from I-95, this serene yet convenient location offers privacy and easy access. The lease includes all condominium fees and property taxes. An adjacent suite with three offices is also available for lease. The building has a 9-foot ceiling height and is zoned B-2. Power is 200 amps. There are no elevators. The property is situated on 0 acres of land with a building floor area ratio of 3,600. This space is perfect for a variety of businesses, including legal, financial, real estate, investment, accounting, and creative firms. Its proximity to the shoreline and commuter routes makes it an attractive option for city-based professionals with secondary residences in the area.

• CAP approach

  CAP return

  Valuation

  6%

  $198,396

  6.5%

  $183,135

  7%

  $170,054

• Comparable approach

  Method

  Valuation

  Relative Method

  $156,792

  Geo Method

  $156,792

• Alternative Use

  Use

  Valuation

  Residential

  $227,087

  Hospitality

  $208,010

  Educational

  $173,062

  Medical

  $179,014

  Retail

  $269,208

Location Insight

City

Old Saybrook

County

Middlesex

State

Connecticut

Latitude

41.2963

Longitude

-72.3855

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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