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    Office and Retail Suite in Complex Title is generated by Realmo AI

    68 Hartford Turnpike, Tolland, CT 06084

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    For Lease
    $1,650/Mo $19 SF/Yr (calc)

    COMMERCIAL - Tolland, CT

    Property size:
    1,000 SF
    Added:
    Apr 28, 2026
    Days on Market:
    41
    Last Refresh:
    Jun 7 at 6:06 pm

    Property Features for 68 Hartford Turnpike

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Parking
    5
    Interior features
    Handicap Design,Public Restrooms
    Exterior features
    Sidewalk,Lighting,Door Sign
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    1,000 SF

    Utilities

    Heating system
    Heat Pump (Heating), Baseboard
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Flooring type
    Wood, Carpet - Full

    We can help!

    Listing Contact
    Marion Scavone

    Listing agent Marion Scavone

    Listing office Sentry Real Estate 646 Hartford Turnpike, Vernon, CT

    Listing date Apr 28, 2026

    MLS# 24165976

    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

    • Colonial Square units 8 & 9 (can be leased separately or together)
    • Each unit offers 1,000 SF with two offices and bathrooms
    • Current rent is $1,650 per unit
    • Common area includes two ADA‑compliant bathrooms
    • Central air and heat pump/baseboard heat; wood and full carpet flooring
    • 1985 build with public water; ADA ramp access and handicap design with accessible approach

    Overview

    Colonial Square presents Units 8 and 9, which may be leased together or separately. Each unit includes two offices and bathrooms, offering a layout designed for professional and customer-facing operations. The common area includes two ADA-compliant bathrooms, supporting day-to-day accessibility for staff and visitors.

    Located at 68 Hartford Turnpike in Tolland, the units sit in a front-facing position within a busy, well-established complex. The space is described as having prominent frontage and convenient access, with parking available for customers and staff.

    With flexible configuration across two suites, these spaces can work for a range of office, retail, or service-based businesses seeking a dedicated suite in a multi-tenant environment. Tenants can take advantage of the ability to scale by leasing one unit or combining Units 8 and 9 for additional space, while maintaining separate, functional office and restroom areas within each suite.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gordon Cross Associates Alternative Medicine Practice Erin A. Shepherd, DC Alternative Medicine Practice C C Driver ... Training Center Westside Chiropractic of Tolland Alternative Medicine Practice Gottier Guy w ... Alternative Medicine Practice

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Tolland
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4113594
    Latitude
    41.8697546

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    FAQs

    What type of property is this?
    Retail space - Two adjoining units in Colonial Square, each with offices and bathrooms, suited for office, retail, or service use.
    Where is this retail space located?
    The property is located at 68 Hartford Turnpike Tolland, CT.
    What is the lease rate?
    The lease rate is $1,650 /Mo.
    What are key features of this property?
    This property features: Colonial Square units 8 & 9 (can be leased separately or together); Each unit offers 1,000 SF with two offices and bathrooms; Current rent is $1,650 per unit
    (860) 716-0956
    We can help!
    Listing Contact
    Marion Scavone
    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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    68 Hartford Turnpike, Tolland, CT 06084
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