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

    882 North Colony Road, Wallingford, CT 06492

    View on Map
    Claim this Listing
    New
    For Sale
    Contact for pricing

    Fully leased commercial building with long-term tenant.

    Type:Retail
    Property size:
    7,810 SF
    Lot size:
    1.14 Acres
    Price / SF:
    $236/SF
    Added:
    May 26, 2026
    Days on Market:
    5
    Last Refresh:
    May 27 at 8:26 am

    Property Features for 882 North Colony Road

    General Information

    Standard status
    Active
    Size
    7,810 SF
    Lot size
    1.14 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1997

    We can help!

    Listing Contact
    Jay Morris
    Jay Morris

    Listing agent Jay Morris License #CT REB.0755257

    Listing office O, R&L Commercial

    Listing date May 26, 2026

    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 O, R&L Commercial

    HighLights

    • Fully leased to Advance Auto Parts through November 30, 2031, with a five‑year renewal option exercised beginning December 2026
    • Strong 7.78% cap rate with an estimated 2026 lease rate of $134,660 NNN
    • Rent escalations tied to CPI increases
    • Excellent visibility with 109 feet of frontage on North Colony Road (Route 5)
    • Convenient access to I‑91 Exit 15 with high traffic counts of approximately 22,900 ADT
    • Tenant is responsible for taxes, utilities, insurance, maintenance, and janitorial expenses (NNN Lease)

    Overview

    This investment opportunity is located at 882 North Colony Road in Wallingford. The property features a 7,810 square foot single-story commercial building on a 1.14 acre lot. Constructed in 1997, the masonry building has visibility along Route 5 and 109 feet of frontage on North Colony Road. There are approximately 45 parking spaces. The property is fully occupied by Advance Auto Parts under a long-term ground lease through November 30, 2031, with an additional five-year renewal option already exercised beginning in December 2026. The estimated 2026 lease rate is $134,660 NNN, with rent escalations tied to CPI increases, and a 7.78% cap rate. The tenant is responsible for taxes, utilities, insurance, maintenance, and janitorial expenses. The property has convenient access to I-91 Exit 15 with traffic counts of approximately 22,900 ADT, and is located in a strong retail corridor.
    Location Intelligence

    Current Use by Public Records

    Advance Auto Parts Auto Parts Store UPS Access Point ... Courier Service

    Suggested Use

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

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

    Similar Places Nearby

    • Tyler's Total Truck Services — 226 N Plains Industrial Rd #8, Wallingford, CT 06492
    • Darrell's Auto Sales & Services Inc — 722 N Colony Rd, Wallingford, CT 06492
    • A & R Auto Body Specialty — 151 N Plains Industrial Rd, Wallingford, CT 06492
    • J J Concrete Floors Inc — 25 N Plains Hwy Suite D1, Wallingford, CT 06492
    • Subaru Service — 711 N Colony Rd, Wallingford, CT 06492

    Location Insight

    • Map
    • Local Demand
    City
    Wallingford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8099121
    Latitude
    41.4812462

    Nearby Similar for Sale

    • $589,900
      2,551 SF

      Renovated Multi-Family in Wallingford, CT

      Recently renovated 3-unit property near downtown Wallingford.
      47 Spring Street, Wallingford, CT 06492
      View Details
    • $650,000
      2,962 SF

      Mixed-Use Property Near Train Station

      Mixed-use property with retail and residential units near train station.
      85 N Colony Street, Wallingford, CT 06492
      View Details
    • $650,000
      2,868 SF

      Wallingford Mixed-Use Building For Sale

      Mixed-use building in Wallingford center, near train station.
      85 N Colony Street, Wallingford, CT 06492
      View Details
    • $750,000
      4,100 SF

      Wallingford Commercial Building For Sale

      4,000 sq ft building in high-traffic location.
      1191 N Colony Road, Wallingford, CT 06492
      View Details
    • $625,000
      4,475 SF

      Versatile Commercial/Industrial Building For Sale

      Spacious building with service bays, office, and ample parking.
      1145 Old Colony Road, Wallingford, CT 06492
      View Details
    • $7,200,000
      3,000 SF

      Medical/Office Space Near Highway

      New medical/office building with highway access and ample parking.
      800 N Colony Rd, Wallingford, CT
      View Details
    • $650,000
      2,868 SF

      Wallingford Mixed-Use Building For Sale

      Mixed-use building in Wallingford center, near train station.
      85 North Colony Street, Wallingford, CT 06492
      View Details
    • $2,100,000
      16,480 SF

      Wallingford Warehouse on 1.29 Acres

      16,480 SF warehouse built in 2004 on 1.29 acres.
      206 Main Street, Wallingford, CT 06492
      View Details
    • $2,200,000
      21,177 SF

      Industrial Flex Building For Sale

      21,177 SF industrial flex building on 2.43 acres.
      135 N Plains Industrial Rd, Wallingford, CT
      View Details
    • $22
      3,173 SF

      North Main Street Office Space

      Office space with open layout, private offices, and parking.
      40 N. Main Street Unit 2, Wallingford, CT 06492
      View Details
    • $150,000

      Established Cleaning Business For Sale

      Profitable cleaning business with contracts and equipment included.
      Champion Maintenance & Janitorial Street, Wallingford, CT 06492
      View Details
    • Contact for pricing

      Well-Maintained 2BR Apartment for Rent

      First-floor, 2BR apartment with hardwood floors, deck, and parking.
      33 Spring Street #1st Floor, Wallingford, CT 06492
      View Details

    FAQs

    What type of property is this?
    Auto shop - Fully leased commercial building with long-term tenant.
    Where is this auto shop located?
    The property is located at 882 North Colony Road Wallingford, CT.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Fully leased to Advance Auto Parts through November 30, 2031, with a five‑year renewal option exercised beginning December 2026; **Strong 7.78% cap rate** with an estimated 2026 lease rate of $134,660 NNN; Rent escalations tied to CPI increases
    (860) 721-0033 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jay Morris
    Jay Morris
    Real Estate License ID: CT REB.0755257
    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
    882 North Colony Road, Wallingford, CT 06492
    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!