984 Southford RdMiddlebury, CT 06762

  • Office properties
  • 32,260 SF
For Lease
$14/SF/YR View listing

Property Details for 984 Southford Rd

Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
6.91 AC
Property size (Sq ft)
32,260 SF
Zone code
GI40
Property type
Office properties
Property subtype
Office buildings
APN
MIDD M:8-04 L:009
APU
MIDDM804L009

Description

This exceptional executive office building, located at 984 Southford Rd in Middlebury, Connecticut (zip code 06762), offers 2,650 square feet of versatile space in a single, well-maintained building. Built in 1988, the property boasts a Class B rating and sits on a generous 8.06-acre lot, providing ample parking with 86 spaces. The building features a 9-foot ceiling height and is conveniently located just half a mile from I-84, ensuring easy access for commuters. The zoning is Gateway Industrial. The interior layout is highly functional, including multiple private offices, a conference room, reception and waiting areas, a kitchenette, and a large bullpen area. Flexible lease options are available, ranging from smaller private office suites (approximately 150 sq ft) to the entire 2,500+ sq ft building. Utilities are included in the lease rate for smaller suites. Larger space lease rates are $14.00 per square foot, plus CAMs. Power is supplied by Eversource. This property presents a unique opportunity for businesses seeking a professional and convenient office space in a desirable location. The entire 2,650 square feet is currently vacant.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $5,333,542
    6.5%
    $4,923,269
    7%
    $4,571,607
  • Comparable approach

    Method
    Valuation
    Relative Method
    $4,215,092
    Geo Method
    $4,215,092
  • Alternative Use

    Use
    Valuation
    Residential
    $6,104,854
    Hospitality
    $5,592,013
    Educational
    $4,652,490
    Medical
    $4,812,496
    Retail
    $7,237,206
984 Southford Rd, Middlebury, Connecticut

Location Insight

City
Middlebury
County
New Haven
State
Connecticut
Latitude
41.5014
Longitude
-73.1557
CBSA code
35300
CBSA name
NEW HAVEN-MILFORD, 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
$56,239
$564,400
$1,178,900
$1,743,300
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-
-
-

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