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    Two-Family Home with Industrial Zoning Title is generated by Realmo AI

    556 Pepper St, Monroe, CT 06468

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    For Sale
    $710,000

    Two-family home on 1.33 acres with industrial zoning.

    Type:Multi Family
    Lot size:
    1.33 Acres
    Added:
    Apr 9, 2026
    Days on Market:
    53
    Last Refresh:
    Apr 9 at 7:01 am

    Property Features for 556 Pepper St

    General Information

    Standard status
    Active
    Lot size
    1.33 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1932

    We can help!

    Listing Contact
    Jeanette Politano
    Jeanette Politano

    Listing agent Jeanette Politano License #RES.0795642

    Listing office Coldwell Banker Realty

    Listing date Apr 9, 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 Coldwell Banker Realty

    HighLights

    • I2 Industrial Zoning offers home‑based business potential, contractor's yard, or future development opportunities.
    • Two‑family configuration with separate, updated utilities provides 'mortgage‑helper' income or multi‑generational living.
    • 1.33‑acre lot with high visibility on Pepper Street near Route 25.
    • Direct access to Rails‑to‑Trails system for hiking and biking.
    • Updated kitchens and bathrooms with stainless steel appliances and new cabinetry (2021‑2025).
    • New roof (2025) and independent AireForce heat pumps (2021/2025).

    Overview

    This two-family residential property is situated on 1.33 acres with high visibility on Pepper Street, near Route 25. The expansive 12-room home includes a total of 4 bedrooms, 3 bathrooms, 2 kitchens, 2 living rooms, and a dining room across two potential units that currently function as one. The property features separate and updated utilities throughout. With I2 Industrial Zoning, this property is suitable for a home-based business, a contractor's yard, or future development. The location provides abundant parking and exposure, making it suitable for an auto enthusiast, landscaper, electrician, or HVAC professional. A portion of the acreage consists of protected wetlands, ensuring a permanent privacy buffer and lush views leading to a private wooden bridge over a babbling brook, with direct access to the Rails-to-Trails system for hiking and biking. The property has a new roof planned for 2025, independent AireForce heat pumps from 2021 and 2025, and modernized kitchens and bathrooms featuring stainless steel appliances and new cabinetry from 2021 to 2025. The home is currently configured as one unit but can be easily separated if needed.
    Location Intelligence

    Current Use by Public Records

    Carting Bee Waste Management Facility CERIOS LLC Construction Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Spa & Massage Center Building Supply 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
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2559117
    Latitude
    41.3481695

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    FAQs

    What type of property is this?
    Duplex - Two-family home on 1.33 acres with industrial zoning.
    Where is this duplex located?
    The property is located at 556 Pepper St Monroe, CT.
    What is the asking price?
    The asking price for this property is $710,000.
    What are key features of this property?
    This property features: I2 Industrial Zoning offers home‑based business potential, contractor's yard, or future development opportunities.; Two‑family configuration with separate, updated utilities provides 'mortgage‑helper' income or multi‑generational living.; **1.33‑acre lot with high visibility on Pepper Street near Route 25.**
    (203) 218-3383
    We can help!
    Listing Contact
    Jeanette Politano
    Jeanette Politano
    Real Estate License ID: RES.0795642
    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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