Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space Near Major Highways Title is generated by Realmo AI

    241 Shunpike Rd, Cromwell, CT 06416

    View on Map
    Claim this Listing
    For Lease
    $1,000/Mo $12 SF/Yr (calc)

    Office space in high-traffic area near Cromwell and Rocky Hill.

    Type:Commercial
    Property size:
    1,000 SF
    Added:
    Apr 27, 2026
    Days on Market:
    35
    Last Refresh:
    Apr 27 at 5:44 pm

    Property Features for 241 Shunpike Rd

    General Information

    Standard status
    Active
    Size
    1,000 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    Nick Palazzo

    Listing agent Nick Palazzo

    Listing office Century 21 Clemens Group

    Listing date Apr 27, 2026

    Source Elliman

    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 Century 21 Clemens Group

    HighLights

    • High‑traffic commercial location near Cromwell and Rocky Hill.
    • Includes property tax and utilities (heat/air conditioning, water, and snow removal).
    • Centrally located near major highways.
    • Connected to a successful dance studio.
    • Approximately 1,000 SF space with lobby, private bathroom, and office.
    • Separate entrance for the office space.

    Overview

    Located in a high-traffic commercial area near the Cromwell and Rocky Hill town lines, this office space is connected to a successful dance studio. The landlord has approximately 1,000 square feet, including a lobby, private bathroom, and office with its own entrance. Centrally located near major highways, this space is suitable for a studio or office. The listed price includes property tax and utilities such as heat, air conditioning, water, and snow removal from the parking lot. The walk score is 48, indicating car-dependent accessibility, and the bike score is 16, suggesting it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    New England Dance Training Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Cromwell
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6767
    Latitude
    41.6323362

    Nearby Similar for Lease

    • $3,400/Mo
      2,000 SF

      Retail Space in Cromwell, CT

      Retail property for lease in Cromwell, Connecticut.
      309 Main St, Cromwell, CT 06416
      View Details
    • $2,100/Mo
      1,200 SF

      Unique Commercial Space in Cromwell

      Retail/office space in a unique location, must see!
      309 Main Street, Cromwell, CT 06416
      View Details
    • $1,600/Mo
      850 SF

      Unique Retail Space in Cromwell

      Retail space for lease in a unique Cromwell location.
      309 Main Street, Cromwell, CT 06416
      View Details
    • $1,000/Mo
      1,000 SF

      Commercial Space Near Major Highways

      Commercial space in high-traffic area, utilities included.
      241 Shunpike Road, Cromwell, CT 06416
      View Details
    • $18 SF/Yr
      4,800 SF

      New Construction Industrial Flex Space

      New construction industrial condominium units for lease, convenient location.
      60 Countyline Dr, Cromwell, CT
      View Details
    • Contact for pricing
      4,500 SF

      Cromwell Office Space Sublease

      Office space available for sublease in Cromwell, Connecticut.
      106 Sebethe Dr, Cromwell, CT 06416
      View Details
    • $11 SF/Yr
      7,250 SF

      Cromwell Flex/Industrial Space Available

      7,250 SF flex/industrial space for lease in Cromwell, CT.
      100 Sebethe Drive, Cromwell, CT, 06416
      View Details
    • $2,800/Mo

      Main Street Mixed-Use Property

      Mixed-use property with retail and office space available for rent.
      542 Main Street, Cromwell, CT 06416
      View Details
    • Contact for pricing
      936,000 SF

      936,000 SF Distribution Opportunity

      936,000 SF built-to-suit distribution center opportunity.
      Shunpike Road, Cromwell, CT, 06416
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Cromwell Center

      Retail space available in well-located Cromwell shopping center.
      45-61 Shunpike Rd, Cromwell, CT
      View Details
    • Contact for pricing
      3,060 SF

      Retail Space with Tesla Charging

      Renovated retail space with high visibility and Tesla Supercharging.
      34 Shunpike Rd, Cromwell, CT
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Cromwell, Connecticut.
      136 Berlin Rd, Cromwell, CT 06416
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in high-traffic area near Cromwell and Rocky Hill.
    Where is this office units located?
    The property is located at 241 Shunpike Rd Cromwell, CT.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: High‑traffic commercial location near Cromwell and Rocky Hill.; Includes property tax and utilities (heat/air conditioning, water, and snow removal).; Centrally located near major highways.
    (860) 573-1986
    We can help!
    Listing Contact
    Nick Palazzo
    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
    241 Shunpike Rd, Cromwell, CT 06416
    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!