Connecticut Retail Market Report
By CREhunt Research · Data through Q4 2023 · Aggregated from Colliers, Cushman & Wakefield
Quarterly retail market indicators for Connecticut, aggregated by CREhunt from Colliers, Cushman & Wakefield. As of Q4 2023, average asking rent was $24.47/SF/yr and vacancy was 4.1%, per Colliers.
Projected current retail pricing — Connecticut
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Connecticut retail yet, so this applies the typical cap rate across comparable retail markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q4 2023 multiple brokerages asking-rent data (benchmark cap rate 6.1%–7.2%, asking rent held flat). Assumes ~96% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 Colliers | $24.47/SF/yr | 4.1% | 4 SF | — | Colliers |
| Q4 2022 Cushman & Wakefield | $22.50/SF/yr | 4.2% | 4 SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for retail space in Connecticut?
- As of Q4 2023, the average asking rent for retail space in Connecticut was $24.47/SF/yr, per Colliers.
- What is the retail vacancy rate in Connecticut?
- The retail vacancy rate in Connecticut was 4.1% as of Q4 2023 (Colliers).
- Where does CREhunt's Connecticut market data come from?
- This report aggregates quarterly retail market data for Connecticut from Colliers, Cushman & Wakefield.