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    80 Pickett District Rd New Milford, CT 06776

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    For Sale
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    63,967 SF Warehouse, Vacant, $6.75M

    Property size:
    63,967 SF

    Property Features for 80 Pickett District Rd

    General Information

    Property type
    Self storage facilities
    Square Feet
    63,967 SF
    Class
    B
    Lot Size
    348,480 SF

    Building Details

    Year Built/Renovated
    1956/2000
    Buildings
    1
    Stories
    1

    We can help!

    Listing Contact
    Chris Cosio
    Chris Cosio

    Listing Agency: Advantage Realty Commercial Inc Listing Agent: Chris Cosio

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This 63,967-square-foot industrial property in New Milford, CT, is available for sale at $6,750,000. Located on 8 acres of RI-zoned land at 80 Pickett District Rd, 06776, this single-story, 1956-built facility underwent renovations in 2000. Features include five loading docks with five dock-high doors, 18-foot ceiling heights, and ample paved parking. The building offers flexible space, potentially subdividable into approximately 10,000-square-foot units. Internal amenities include multiple bathrooms, a cafeteria, executive offices, bullpen offices, a showroom, and a central reception area. The property boasts a full HVAC system, metered electric service, city water and septic, a 277/480-volt power supply with a backup generator, and a full sprinkler system. An estimated 40,000-square-foot expansion is possible. The property is currently vacant, with an occupancy date of October 1, 2024. Lease options are available. This location offers convenient access to Route 7 and I-84, providing excellent connectivity to major transportation routes. The property is situated near Danbury, Brookfield, Roxbury, Bridgewater, and Kent, offering proximity to restaurants and city services. This is a prime opportunity for owner-users seeking a versatile industrial space with significant expansion potential. The sale is suitable for a 1031 exchange.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PremierCare Medical Clinic Medical Group DDG Sporting LLC Big Box & Wholesale Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    New Milford
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.41038586
    Latitude
    41.55411006

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    FAQs

    What type of property is this?
    Self storage facility - 63,967 SF Warehouse, Vacant, $6.75M
    Where is this self storage facility located?
    The property is located at 80 Pickett District Rd New Milford, CT.
    What is the asking price?
    The asking price for this property is $6,750,000.
    What are key features of this property?
    This property features: $6,750,000 asking price for this 63,967 SF industrial property.; Vacant, 63,967 SF industrial building, available for sale or lease.; Located at 80 Pickett District Rd, New Milford, CT 06776, on an 8-acre lot.
    (203) 798-9345 Call to check price and availability
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    80 Pickett District Rd New Milford, CT 06776
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    New Milford, CT 06776
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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.

    More about this property
    80 Pickett District Rd New Milford, CT 06776
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Cosio
    Chris Cosio
    Real Estate License ID: 0806068
    (203) 798-9345 (203) 524-8635
    Learn more
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