Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    101 Stonebridge Ct Highland Ave Cheshire, CT 06410
    Back to Search
    Property profile & analytics

    101 Stonebridge Ct Highland Ave, Cheshire, CT 06410

    View on Map
    • Retail properties & Spaces
    • 5,292 SF
    • 2.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 101 Stonebridge Ct Highland Ave

    Lot size
    2.50 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    Exceptional investment opportunity: a brand-new, 25-year absolute NNN ground lease for a Mobil gas station and convenience store located at 101 Stonebridge Ct, Cheshire, CT 06410. This 5,292 square foot property sits on a 2.5-acre lot at the intersection of Highland Avenue and Interstate 691, a high-traffic area with 74,600 cars daily on I-691 and 19,300 on Highland Ave. The lease commenced April 4, 2024, and expires April 29, 2049, offering a remaining term of 24.5 years. The property boasts a strong net operating income (NOI) of $120,000, resulting in a 5.50% cap rate and a price per square foot of $412. The asking price is $2,181,818. Rent increases are the greater of 10% or CPI, capped at 15%, providing an effective inflation hedge. The lease includes two 10-year renewal options. This is a single-tenant lease with a franchisee tenant, backed by a personal guarantor. The property benefits from its proximity to the busy I-84/I-691 interchange and serves a high-income area with a household income of $117,000. The location is strategically positioned within a 15-minute drive of a population of 585,602, offering excellent access to New Haven, Hartford, and Stamford. The property is expected to be delivered free and clear of debt, providing a true coupon clipper investment with long-term rental growth potential. The building is scheduled for completion in Q1 2025.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cheshire
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8984
    Latitude
    41.5164

    Comparable in this City

    • Value Estimation by Request
      1,858 SF

      831 Main St

      GAS STATION
      831 Main St, Cheshire, CT 06410-3443
      View Details
    • Value Estimation by Request
      2,053 SF

      995 Main St

      GAS STATION
      995 Main St, Cheshire, CT 06410-3418
      View Details
    • Value Estimation by Request
      1,708 SF

      197 Main St

      GAS STATION
      197 Main St, Cheshire, CT 06410-2408
      View Details
    • Value Estimation by Request
      1,680 SF

      905 Main St

      GAS STATION
      905 Main St, Cheshire, CT 06410-3952
      View Details
    • Value Estimation by Request
      120 SF

      490 Main St

      GAS STATION
      490 Main St, Cheshire, CT 06410-2420
      View Details
    • Value Estimation by Request
      1,742 SF

      626 Maple Ave

      GAS STATION
      626 Maple Ave, Cheshire, CT 06410-2151
      View Details

    Similar Nearby for Sale

    • $1,240,000
      4,412 SF

      Prime Commercial Property on Route 70

      4,500 sq ft building on Route 70 for sale.
      460 West Main St, Cheshire, CT 06410
      View Details
    • Contact for pricing
      220 SF

      Multi-Use Building in Cheshire Center

      Multi-use building with retail and office space in Cheshire.
      114 South Main St, Cheshire, CT 06410
      View Details
    • Contact for pricing
      34,216 SF

      Industrial Portfolio For Sale

      Three industrial properties available for sale individually or as a portfolio.
      150 Sandbank Rd, Cheshire, CT 06410
      View Details
    • Contact for pricing

      1.12 Acre Commercial Land

      1.12± acre commercial land with excellent visibility on Route 10.
      1289 Highland Ave, Cheshire, CT 06410
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,580 SF

      Restaurant with Drive-Thru and Parking

      Former Arby's restaurant with drive-thru and ample parking.
      980 S Main St, Cheshire, CT 06410
      View Details
    • Contact for pricing
      2,392 SF

      Prime Cheshire Location, Suites Available

      Centrally located property with high accessibility and ample parking.
      286 Maple Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing
      4,150 SF

      81,100 SF Shopping Center

      Shopping center on 9.3 acres with 4,150 SF available.
      905 S Main St, Cheshire, CT 06410
      View Details
    • Contact for pricing

      Renovated Commercial Suite in Cheshire

      Recently renovated commercial space suitable for various business uses.
      43 Jinny Hill Rd, Cheshire, CT 06410
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 1,900 square feet.
      1463 Highland Ave, Cheshire, CT 06410
      View Details
    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.
    101 Stonebridge Ct Highland Ave
    Cheshire, CT 06410
    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
    101 Stonebridge Ct Highland Ave, Cheshire, CT, 06410
    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!