Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    1943 Berlin Tpke Berlin, CT

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    7,000 SF endcap retail space, dividable to 1,500 SF.

    Type:RETAIL
    Property size:
    7,000 SF
    Lot size:
    4.76 Acres
    Added:
    Apr 3, 2024
    Days on Market:
    765
    Last Refresh:
    Apr 5 at 9:49 pm

    Property Features for 1943 Berlin Tpke

    General Information

    Standard status
    Active
    Size
    7,000 SF
    Lot size
    4.76 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 1943 Berlin Tpke Contact us

    We can help!

    Listing Contact
    Dusty Burke

    Listing agent Dusty Burke

    Listing office American Commercial Real Estate

    Listing date Apr 3, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of American Commercial Real Estate

    HighLights

    • High Traffic Location: Boasting 27,000+ Average Daily Traffic (ADT).
    • Endcap Unit: 7,000 SF endcap retail space on a corner lot.
    • High Parking Capacity: 109 parking spaces.
    • Signalized Intersection: Provides easy access and visibility.
    • Divisible Space: Can be divided to 1,500 SF.
    • Established Co‑Tenants: Join Elle Nails & Spa, Heritage Wine & Spirits, and Halal Munchies Restaurant.

    Overview

    Endcap Retail Space Available

    This 7,000 square foot retail space is available for rent and can be divided into units as small as 1,500 square feet. The property is located on a corner lot at a signalized intersection. It benefits from high traffic volume, with over 27,000 vehicles per day. The site includes 109 parking spaces. Current tenants include Elle Nails & Spa, Heritage Wine & Spirits, and Halal Munchies Restaurant. The property is located adjacent to a Mobil Gas Station and Dunkin Donuts.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Halal Munchies - Berlin, ... Restaurant Heritage Wine & Spirits (Bike/Boat/Book/etc) Store Elle Nail & Spa Nail Salon

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center Hotel & Motel Kitchen & Bath Showroom Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7536
    Latitude
    41.5981

    Nearby Similar for Lease

    • $2,025/Mo

      Desirable Berlin Office Space

      Office space in high-demographic area, suitable for medical or professional.
      320 New Britain Rd 2, Berlin, CT 06037
      View Details
    • Sponsored
      Contact for pricing

      East Berlin

      1224 Mill St, Unit B, Berlin, CT 06023
      View Details
    • $3,250/Mo

      Unique Loft Residence For Rent

      One-bedroom residence with den, loft, and modern finishes.
      414 Berlin Tpke 1410, Berlin, CT 06037
      View Details
    • $3,300/Mo

      Berlin Duplex with Garage

      Spacious duplex with garage, walk-out basement, and outdoor space.
      57 Four Rod Rd, Berlin, CT 06037
      View Details
    • $2,150/Mo

      Apartment in Heart of Berlin

      Conveniently located apartment near restaurants, grocery stores, and shopping.
      1044 Farmington Ave, Berlin, CT 06037
      View Details
    • $2,400/Mo

      Updated Apartment in Historic Berlin

      Spacious, updated 2-bedroom apartment near Berlin's historic district.
      883 Worthington Rdg 2nd Floor, Berlin, CT 06037
      View Details
    • $600/Mo

      Office Space Available For Rent

      Office unit with 1060 square feet available for rent.
      9 Steele Boulevard, Berlin, CT 06037
      View Details
    • $9 SF/Yr

      Flex Space with Retail/Warehouse

      3,750 SF flex space with retail and warehouse components.
      2590 Berlin Tpke, Berlin, CT
      View Details
    • $1,950/Mo

      Kensington Three-Bedroom Apartment For Rent

      Three-bedroom apartment in Kensington Village, near shops and transportation.
      861 Farmington Ave 2nd Floor, Berlin, CT 06037
      View Details
    • $6 SF/Yr

      Versatile Warehouse Space Available

      20,000 SF warehouse for lease, divisible to 5,000 SF.
      128 Old Brickyard Lane #5, Berlin, CT 06037
      View Details
    • Contact for pricing

      Berlin Duplex with Attached Garage

      Half duplex in Berlin, hardwood floors, walk to downtown.
      57 Four Rod Road, Berlin, CT 06037
      View Details
    • Contact for pricing

      Unique Loft Residence For Rent

      Spacious 1-bedroom residence with loft, den, and modern finishes.
      414 Berlin Turnpike Unit 1410, Berlin, CT 06037
      View Details

    FAQs

    What type of property is this?
    Retail space - 7,000 SF endcap retail space, dividable to 1,500 SF.
    Where is this retail space located?
    The property is located at 1943 Berlin Tpke Berlin, CT.
    What are key features of this property?
    This property features: High Traffic Location: Boasting 27,000+ Average Daily Traffic (ADT).; Endcap Unit: 7,000 SF endcap retail space on a corner lot.; High Parking Capacity: 109 parking spaces.
    (508) 735-6378 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dusty Burke
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1943 Berlin Tpke, Berlin, CT
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!