Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    55 Lower Butcher Rd Ellington, CT 06029

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,700,000

    44,800 SF racquet club with tennis and pickleball courts.

    Property size:
    44,800 SF
    Lot size:
    4.64 Acres

    Property Features for 55 Lower Butcher Rd

    General Information

    Standard status
    Active
    Size
    44,800 SF
    Lot size
    4.64 Acres

    Building Details

    Year built
    2024

    We can help!

    Listing Contact
    Dan Keune
    Source: Corcoran

    Listing Agency: Campbell-Keune Realty Inc Listing Agent: Dan Keune

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

    Learn more

    Overview

    Racquet Club Opportunity For Sale

    The property features a 44,800 square foot building designed as a racquet club. It includes 4 indoor tennis courts and 4 indoor pickleball courts. The facility also offers a lounge area and men's and women's locker rooms. State-of-the-art lighting provides an outdoor lighting experience within a climate-controlled setting. Large service doors are located at the front and back of the building. This property presents an opportunity to continue the existing business or modify the use.
    Location Intelligence

    Current Use by Public Records

    Fitness centers & gyms

    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.

    Similar Places Nearby

    Anytime Fitness, The Revival Room, True Wellness Coaching, Select Physical Therapy - Ellington, Vermont Soccer Fields

    Location Insight

    • Map
    • Local Demand
    City
    Ellington
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4710011
    Latitude
    41.8752858

    Nearby Similar for Sale

    • $365,000
      1,984 SF

      Commercial Building Near Ellington Airport

      Commercial building with multi-use possibilities near Ellington Airport.
      406 Somers Rd, Ellington, CT 06029
      View Details
    • $159,999

      Fully Leased Office Space Unit

      Turn-key office space generating $1,600 monthly income.
      24 West Rd, Ellington, CT 06029
      View Details
    • $419,900

      Ellington Specialty Property For Sale

      Specialty property available for purchase in Ellington, Connecticut.
      42 Middle Rd, Ellington, CT 06029
      View Details
    • $489,900

      Ellington Specialty Property For Sale

      Specialty property available for purchase in Ellington, Connecticut.
      7 Sunset Rd, Ellington, CT 06029
      View Details
    • $649,900

      Ellington Specialty Property For Sale

      Specialty property available for purchase in Ellington, Connecticut.
      10 Griswold Rd, Ellington, CT 06029
      View Details
    • $330,000

      Ellington Specialty Property For Sale

      Specialty property available for purchase in Ellington, Connecticut.
      222 Mountain Rd, Ellington, CT 06029
      View Details
    • $724,900

      Ellington Specialty Property For Sale

      Specialty property available for purchase in Ellington, Connecticut.
      2 Pease Farm Rd, Ellington, CT 06029
      View Details
    • $319,900

      Ellington Specialty Property For Sale

      Specialty property available for purchase in Ellington, Connecticut.
      53 Upper Butcher Rd, Ellington, CT 06029
      View Details
    • $425,000

      Ellington Multi-Family Home For Sale

      Two-family home with three bedrooms each in Ellington, Connecticut.
      41 Hoffman Rd, Ellington, CT 06029
      View Details

    FAQs

    What type of property is this?
    Fitness center & gym - 44,800 SF racquet club with tennis and pickleball courts.
    Where is this fitness center & gym located?
    The property is located at 55 Lower Butcher Rd Ellington, CT.
    What is the asking price?
    The asking price for this property is $4,700,000.
    What are key features of this property?
    This property features: - 4 indoor tennis courts and 4 indoor pickleball courts; - 44,800 square foot building; - Built in 2024
    (860) 872-2023
    Request Owner's contact information
    55 Lower Butcher Rd Ellington, CT 06029
    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.
    55 Lower Butcher Rd
    Ellington, CT 06029
    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
    55 Lower Butcher Rd Ellington, CT 06029
    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
    Dan Keune
    Real Estate License ID: REB.0756246
    (860) 872-2023 (860) 214-1150
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!