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    Commercial Building with Rental Potential Title is generated by Realmo AI

    554 Pond Road, Franklin, CT 06254

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    Picture of Retail space at 554 Pond Road, Franklin, CT
    For Sale
    $375,000

    COMMERCIAL - Franklin, CT

    Lot size:
    0.42 Acres
    Added:
    May 21, 2026
    Days on Market:
    3
    Last Refresh:
    May 23 at 2:06 pm

    Property Features for 554 Pond Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C-2
    Bathrooms
    1
    Rooms
    Bathroom 1
    Exterior features
    Doors - 10-15 ft
    Standard status
    Active
    Lot size
    0.42 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    4373

    Utilities

    Water source
    Private

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Concrete

    We can help!

    Listing Contact
    Ernie Lacore

    Listing agent Ernie Lacore

    Listing office Compass Connecticut, LLC 724 Boston Post Road, Guilford, CT

    Listing date May 21, 2026

    MLS# 24177503

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • C2 zoning commercial building with 13 bays plus an office, suitable for commercial rentals.
    • Significantly below combined market value asking price of $375,000 for both properties (commercial building and adjacent land).
    • Includes a separate deeded 5.49‑acre property ideal for a low‑cost, high‑cash‑flow self‑storage facility.
    • New roof (2024) and upgraded 200 amp electrical system (2024).
    • High traffic count: 2,037 vehicles daily on Pond Rd and 11,164 vehicles on Rt 32 (1/4 mile away).
    • Private well and septic system.

    Overview

    The commercial building at 554 Pond Rd, constructed in 1970, is situated on a 0.42-acre lot. Zoned C-2, the property features an upgraded 200 amp electrical system installed in 2024, a private well and septic system, and a new roof also installed in 2024. The building includes 13 bays plus an office, presenting a potential opportunity for commercial rentals. Daily traffic is approximately 2,037 vehicles, with 11,164 vehicles on Rt 32 about 1/4 mile away. The last market valuation was $294,000 and current CMA $298,060. Across the street is a separate deeded property at 557 Pond Rd on 5.49 acres of open land offering an excellent low cost high cash flow self storage facility. Electricity is available for lighting and security. There is a pond on the rear of the property. Last market value was $193,500 and current CMA $193,500. Combined market value is $481,560 for both properties.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Building Supply Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Auto Parts Store Kitchen & Bath Showroom Food Market HVAC Service Grocery & Convenience Store Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    New London
    State
    Connecticut
    Longitude
    -72.165955
    Latitude
    41.635883

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    FAQs

    What type of property is this?
    Retail space - Commercial building with 13 bays, office, and rental opportunity.
    Where is this retail space located?
    The property is located at 554 Pond Road Franklin, CT.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: C2 zoning commercial building with 13 bays plus an office, suitable for commercial rentals.; Significantly below combined market value asking price of $375,000 for both properties (commercial building and adjacent land).; Includes a separate deeded 5.49‑acre property ideal for a low‑cost, high‑cash‑flow self‑storage facility.
    (860) 573-1598
    We can help!
    Listing Contact
    Ernie Lacore
    Request Owner's contact information
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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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