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    Retail Strip Plaza with Ranch Title is generated by Realmo AI

    497 Winthrop Road, Deep River, CT 06417

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    Claim this Listing
    Pending
    $749,900

    COMMERCIAL - Deep River, CT

    Lot size:
    4.00 Acres
    Added:
    May 8, 2025
    Days on Market:
    393
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 497 Winthrop Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    NCD
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
    Parking
    20
    Exterior features
    Doors - 10-15 ft,Lighting,Doors - 16-20 ft
    Standard status
    Pending
    Lot size
    4.00 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    11522

    Utilities

    Sewer type
    Shared Septic
    Heating system
    Baseboard
    Cooling system
    Wall Unit(s), Central Air
    Water source
    Well, Private

    Building Details

    Year built
    1957

    We can help!

    Listing Contact
    Kathleen Thuerling
    Kathleen Thuerling

    Listing agent Kathleen Thuerling

    Listing office Century 21 AllPoints Realty 857 N Main St. Ext Suite 3, Southington, CT

    Listing date May 8, 2025

    MLS# 24094162

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4‑acre strip plaza with 3 retail spaces, plus 2 separate garages and a single‑family ranch with garage/storage—all rented separately
    • Two ponds at the rear of the property with picnic tables
    • Many updates and renovations completed within the past 6 years
    • Units feature separated heat, hot water, and electric
    • Central air and wall unit(s) plus baseboard heating
    • Water source: well/private; sewer: shared septic

    Overview

    This offering is a small strip plaza on approximately 4 acres featuring three retail spaces, two separate garages rented independently, and a single-family ranch with garage/storage that is also rented separately. The retail spaces include two units with longer-term leases, while the single-family ranch is on a yearly rental term. All units have separated heat, hot water, and electric. Updates and renovations have been completed within the past six years.

    The property is situated on a state road and benefits from a good traffic count per day, according to the seller’s remarks. At the rear of the site, there are two ponds with picnic tables, providing a quiet setting to enjoy lunch while watching a blue heron at its nest.

    For an owner seeking a mixed-use income setup, this configuration combines multiple retail tenancies with separately rented accessory structures and a residential component. The separate utilities for each unit may appeal to tenants who prefer independent service while simplifying building management for the next operator. The property is listed under zoning designation NCD.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apizza Grande Deep ... Restaurant

    Suggested Use

    Restaurant Auto Repair Shop Kitchen & Bath Showroom Garden Center Electrical Service Cafe & Coffee Shop Shopping Center & Mall Travel Agency Restaurant Nursing Home

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Deep River
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.497468
    Latitude
    41.359475

    Nearby Similar for Sale

    • $1,270,000

      Industrial Warehouse in Deep River

      100% occupied industrial warehouse with a long-term ground lease.
      900 Industrial Park Rd, Deep River, CT 06417
      View Details
    • $1,200,000
      10,000 SF

      Industrial Warehouse in Deep River

      100% occupied industrial warehouse with long-term ground lease.
      900 Industrial Park Rd, Deep River, CT 06417
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    • $1,700,000

      Commercial

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      View Details

    FAQs

    What type of property is this?
    Strip mall - Three retail spaces plus a rented ranch on separate utilities, positioned on a state road with a good daily traffic count.
    Where is this strip mall located?
    The property is located at 497 Winthrop Road Deep River, CT.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: 4‑acre strip plaza with 3 retail spaces, plus 2 separate garages and a single‑family ranch with garage/storage—all rented separately; Two ponds at the rear of the property with picnic tables; Many updates and renovations completed within the past 6 years
    (203) 641-7681
    We can help!
    Listing Contact
    Kathleen Thuerling
    Kathleen Thuerling
    Request Owner's contact information
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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.

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