Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Route 3 Development Opportunity Title is generated by Realmo AI

    856 Cromwell Ave, Rocky Hill, CT 06067

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Upcoming development on Route 3 for various commercial uses.

    Type:Retail
    Property size:
    72,000 SF
    Added:
    Oct 17, 2024
    Days on Market:
    597
    Last Refresh:
    May 11 at 8:27 pm

    Property Features for 856 Cromwell Ave

    General Information

    Standard status
    Active
    Size
    72,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 856 Cromwell Ave Contact us

    We can help!

    Listing Contact
    Tyler Lyman

    Listing agent Tyler Lyman License #CT RES.0787447

    Listing office TRUE Commercial Real Estate LLC

    Listing date Oct 17, 2024

    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 TRUE Commercial Real Estate LLC

    HighLights

    • Prime location on Route 3 in Rocky Hill.
    • Part of Town Center West, a developing LifeStyle Center.
    • Existing popular tenants include Starbucks, The Salad Bar, Carbones Prime, and Citizens Bank.
    • Phase II offers 72,000 SF of new building space.
    • Suited for medical, restaurant, fitness, retail, or office use.
    • Adjacent to The Montage, a 144‑unit luxury apartment complex.

    Overview

    Town Center West is an upcoming development on Route 3 in Rocky Hill. This development is planned to feature tenants such as Starbucks, The Salad Bar, Carbones Prime, and Citizens Bank. Town Center West abuts The Montage, a 144-unit luxury apartment complex. Phase II will consist of two new buildings, each consisting of 36,000 square feet, totaling 72,000 square feet. Phase II presents an opportunity for medical, restaurant, fitness, retail, or office use.
    Location Intelligence

    Current Use by Public Records

    Chiquana Allman Physician saladbar Take-out & Catering Edwin Gentle Touch Hair Salon Citizens Bank Starbucks Cafe & Coffee Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    Rocky Hill
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.677671
    Latitude
    41.645183

    Nearby Similar for Lease

    • $250 SF/Yr
      200 SF

      Modern Workstations in Rocky Hill

      Sixteen workstations available in a modern Rocky Hill office suite.
      35 Cold Spring Road, Rocky Hill, CT 06067
      View Details
    • $499/Mo
      200 SF

      Furnished Offices in Rocky Hill

      Modern, furnished offices with shared amenities, flexible lease terms.
      35 Cold Spring Road, Rocky Hill, CT 06067
      View Details
    • $599/Mo
      2,800 SF

      Furnished Offices in Rocky Hill

      Four private, furnished offices available for lease in Rocky Hill.
      35 Cold Spring Road, Rocky Hill, CT 06067
      View Details
    • $399/Mo
      200 SF

      Furnished Office in Rocky Hill

      Private, furnished office space with shared amenities and flexible terms.
      35 Cold Spring Road, Rocky Hill, CT 06067
      View Details
    • Sponsored
      $129-$5,066/Mo
      11-1,292 SF

      Rocky Hill

      175 Capital Blvd, Unit 4TH, Rocky Hill, CT 06067
      View Details
    • $1.00 SF/Yr
      35,705 SF

      Versatile Commercial Building on Silas Deane

      35,705 SF commercial building with retail, warehouse, and office space.
      1930 Silas Deane Highway, Rocky Hill, CT 06067
      View Details
    • $24 SF/Yr
      9,150 SF

      Medical Office Space Available

      Class A medical office space for lease in Rocky Hill.
      175 Capital Boulevard, Rocky Hill, CT, 06067
      View Details
    • $250 SF/Yr
      200 SF

      Modern Office Suite Workstations

      Sixteen workstations available in Rocky Hill office suite.
      35 Cold Spring Road #515, Rocky Hill, CT 06067
      View Details
    • $499/Mo
      200 SF

      Furnished Offices in Rocky Hill

      Modern, furnished offices for rent with shared amenities.
      35 Cold Spring Road #515, Rocky Hill, CT 06067
      View Details
    • $22 SF/Yr
      2,750 SF

      Class A Medical/Office Space

      Medical and office space for lease in Rocky Hill.
      1111 Cromwell Avenue, Rocky Hill, CT, 06067
      View Details
    • $1,500/Mo
      2,100 SF

      Medical Office Sublet Opportunity

      Shared sublet opportunity for medical professionals in Rocky Hill.
      2275 Silas Deane Highway, Rocky Hill, CT 06067
      View Details
    • $599/Mo
      2,800 SF

      Furnished Private Offices in Rocky Hill

      Four furnished private offices available for lease in Rocky Hill.
      35 Cold Spring Road #515, Rocky Hill, CT 06067
      View Details

    FAQs

    What type of property is this?
    Retail space - Upcoming development on Route 3 for various commercial uses.
    Where is this retail space located?
    The property is located at 856 Cromwell Ave Rocky Hill, CT.
    What are key features of this property?
    This property features: Prime location on Route 3 in Rocky Hill.; Part of Town Center West, a developing LifeStyle Center.; Existing popular tenants include Starbucks, The Salad Bar, Carbones Prime, and Citizens Bank.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tyler Lyman
    Real Estate License ID: CT RES.0787447
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    856 Cromwell Ave, Rocky Hill, CT 06067
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!