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    194 Amity Rd Woodbridge, CT 06525-2239

    • Banks
    • 4,488 SF
    • 0.83 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0383163
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Theresa Cavalier / Financial Planner / Financial Consultant
    • Thomas Hobin / Financial Planner / Business To Business Service
    • cfg / Bank
    • Citizens Bank / Atm
    • Citizens / Bank / Atm

    Property Details for 194 Amity Rd

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.83 lot acres
    Property size
    4,488 SF
    Zone code
    GB
    Property type
    Banks
    APN
    WBRD M:02701 B:00030 L:194
    APU
    WBRDM02701B00030L194

    Description

    This exceptional 4,488-square-foot free-standing retail building at 194 Amity Road in Woodbridge, CT, presents a unique leasing opportunity. Conveniently situated off Exit 59 of the Merritt Parkway, this Class A property boasts a prime location within the Woodbridge Business District, surrounded by a vibrant mix of restaurants, banks, and other retail businesses. The single-story building, constructed in 1965, offers excellent visibility and frontage on Amity Road (Route 63). Currently configured as a bank branch with a drive-thru and a medical office, the space is highly adaptable to a variety of uses, including but not limited to restaurants, medical offices, financial institutions, and retail stores. The property features ample parking with 48 spaces available for tenants and patrons. The building is zoned GB and offers multiple suites, with a minimum divisible space of 1,700 square feet and a maximum contiguous space of 4,488 square feet. The entire 4,488 square feet is currently vacant and ready for immediate occupancy. The 0.83-acre lot provides ample space and accessibility. This is an exceptional opportunity to secure a highly visible and well-located commercial space in a thriving business district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $332,000
      Market price range: $233k - $593k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Woodbridge
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9818
    Latitude
    41.3397
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $27,646
    $237,090
    $376,180
    $613,270
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $475,000
      12,202 SF

      260 Amity Rd

      FINANCIAL BUILDING • 12,202 SF
      260 Amity Rd, Woodbridge, CT 06525-2222
      View Details
    • Value Estimation
      $335,000
      2,601 SF

      211 Amity Rd

      FINANCIAL BUILDING • 2,601 SF
      211 Amity Rd, Woodbridge, CT 06525-2226
      View Details
    • Value Estimation
      $390,000
      10,335 SF

      198 Amity Rd

      FINANCIAL BUILDING • 10,335 SF
      198 Amity Rd, Woodbridge, CT 06525-2205
      View Details
    • Value Estimation by Request
      16,424 SF

      12 Selden St

      Individual retail properties • 16,424 SF
      12 Selden St, Woodbridge, CT 06525
      View Details
    • Value Estimation
      $335,000
      4,630 SF

      1746 Litchfield Tpke

      SHOW ROOM, WAREHOUSE • 4,630 SF
      1746 Litchfield Tpke, Woodbridge, CT 06525-2309
      View Details
    • Value Estimation
      $230,000
      4,847 SF

      219 Amity Rd

      SHOW ROOM, WAREHOUSE • 4,847 SF
      219 Amity Rd, Woodbridge, CT 06525-2206
      View Details

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      Office sublease perfect for counselors or client meetings.
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    • $17 SF/Yr

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      Pristine office space in Woodbridge business district for rent.
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    Woodbridge, CT 06525-2239
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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
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