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    Simsbury Medical Office Building Title is generated by Realmo AI

    30 Dorset Crossing Dr, Simsbury, CT 06070

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    Premier medical office building in Simsbury, Connecticut for sale.

    Type:Office
    Property size:
    15,000 SF
    Price / SF:
    $130/SF
    Added:
    Mar 25, 2021
    Days on Market:
    1896
    Last Refresh:
    May 19 at 8:46 pm

    Property Features for 30 Dorset Crossing Dr

    General Information

    Standard status
    Active
    Size
    15,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    2012

    We can help!

    Listing Contact
    Gregory Walwer

    Listing agent Gregory Walwer License #REB.0790169

    Listing office Academic Co-Realty Services

    Listing date Mar 25, 2021

    Source Crexi

    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 Academic Co-Realty Services

    HighLights

    • Premier medical office building with 13,500 sq ft of clinical space, 4,000 sq ft urgent care suite, and lab space.
    • Located in Dorset Crossing on Route 202 with direct frontage and a signalized entrance.
    • Additional land approved for various uses is available.
    • Convenient location: 15 minutes from Bradley International Airport and 25 minutes from downtown Hartford.
    • Built in 2012.
    • Seller will entertain a lease with option to buy.

    Overview

    This premier medical office building is located at Dorset Crossing on Route 202 in Simsbury. Constructed in 2012, the building offers 15,000 square feet of space, including 13,500 square feet of clinical space featuring office suites and a community room. It also includes a 4,000 square foot urgent care suite equipped with a radiology room, and lab space with several blood drawing stations. Additional land approved for various uses is available at Dorset Crossing, which also features The Pointe apartment complex. The property has direct frontage on Route 202, with a signalized entrance into the complex. The land is level and has well-drained soils. The location benefits from a daily traffic count of approximately 12,000 vehicles. All utilities are available. The site is located 15 minutes from Bradley International Airport and 25 minutes from downtown Hartford. The seller will entertain a lease with the option to buy, or a lease rate of $18 per square foot per year plus a $9 per square foot per year CAM charge.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Map

    City
    Simsbury
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8259
    Latitude
    41.8901

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    FAQs

    What type of property is this?
    Medical Office Space - Premier medical office building in Simsbury, Connecticut for sale.
    Where is this medical office space located?
    The property is located at 30 Dorset Crossing Dr Simsbury, CT.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Premier medical office building with 13,500 sq ft of clinical space, 4,000 sq ft urgent care suite, and lab space.; Located in Dorset Crossing on Route 202 with direct frontage and a signalized entrance.; Additional land approved for various uses is available.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gregory Walwer
    Real Estate License ID: REB.0790169
    Learn More
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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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