Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1130 Hanover Ave Meriden, CT 06451

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    Specialty property available for purchase in Meriden, Connecticut.

    Lot size:
    0.76 Acres

    Property Features for 1130 Hanover Ave

    General Information

    Lot size
    0.76 Acres

    Building Details

    Year built
    2005

    We can help!

    Listing Contact
    Angelina Frascarelli
    Source: Elliman

    Listing Agent: Angelina Frascarelli

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

    Learn more

    Overview

    Meriden Specialty Property For Sale

    A specialty property located at 1130 Hanover Ave, Meriden, CT 06451, is available for sale. The list price is $575000.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Meriden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8244817
    Latitude
    41.5169764

    Nearby Similar for Sale

    • $394,900
      Pending

      Modern Meriden Multi-Family Property

      Manageable multi-family property perfect for investors or owner-occupiers.
      28 Orient St, Meriden, CT 06450
      View Details
    • $1,100,000
      1,238 SF

      Four-Unit Multifamily Property in Meriden

      Four rented units, one free-standing, in Meriden, Connecticut.
      111 Sunset Ave, Meriden, CT 06450
      View Details
    • $540,000
      5,410 SF

      Mixed-Use Building Near Train Station

      Versatile mixed-use property with industrial, retail, office, and residential spaces.
      109 Hanover St, Meriden, CT 06451
      View Details
    • $514,900
      2,174 SF

      East Side Duplex with Garage

      Duplex with three-bedroom units and a detached two-car garage.
      43 North Pearl St, Meriden, CT 06450
      View Details
    • $380,000
      3,561 SF

      Three-Unit Property in Meriden, CT

      Three-unit residential property in Meriden, Connecticut, ideal for investment.
      201 Colony St, Meriden, CT 06451
      View Details
    • $699,000
      2,160 SF

      Meriden Liquor Store with Real Estate

      Liquor store business and real estate for sale on busy road.
      854 Hanover Rd, Meriden, CT 06451
      View Details
    • $575,000
      3,247 SF

      Meriden Multifamily Investment Opportunity

      Five-unit residential building in Meriden, part of larger portfolio.
      51 Griswold St, Meriden, CT 06450
      View Details
    • New
      $475,000
      2,990 SF

      Renovated 3-Family Investment Property

      Extensively renovated 3-family property with 8 bedrooms, a cash cow.
      56 North 1St St, Meriden, CT 06451
      View Details
    • $475,000
      2,102 SF

      Meriden Multi-Family Investment Opportunity

      Two-unit property in Meriden, Connecticut, with renovation potential.
      151 View St, Meriden, CT 06450
      View Details
    • $425,000
      2,556 SF

      Meriden Two-Family Home with Garage

      Two-family home with garage and yard, to be renovated.
      235 Grove St, Meriden, CT 06451
      View Details
    • $450,000
      3,204 SF

      Meriden Two-Family Residential Property

      Two-family residential property featuring two 4-bedroom units in Meriden, CT.
      80 Olive St, Meriden, CT 06450
      View Details
    • $405,900
      Pending

      Spacious Two-Family Home

      Two-family home with expansion and income potential near I-91.
      81 Myrtle St, Meriden, CT 06450
      View Details

    FAQs

    What type of property is this?
    Specialty property - Specialty property available for purchase in Meriden, Connecticut.
    Where is this specialty property located?
    The property is located at 1130 Hanover Ave Meriden, CT.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Year Built: 2005
    (860) 451-8000
    Request Owner's contact information
    1130 Hanover Ave Meriden, CT 06451
    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.
    1130 Hanover Ave
    Meriden, CT 06451
    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
    1130 Hanover Ave Meriden, CT 06451
    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

    We can help!
    Listing Contact
    Angelina Frascarelli
    (860) 451-8000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.