Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    883-885 Hopmeadow St Simsbury, CT 06070
    Back to Search
    Property profile & analytics

    883-885 Hopmeadow St Simsbury, CT 06070

    View on Map
    • Office Spaces
    • 2,271 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 883-885 Hopmeadow St

    Property size
    2,271 SF
    Property type
    Office Spaces

    Description

    This exceptional Simsbury, Connecticut office property, located at 883-885 Hopmeadow St, zip code 06070, offers a variety of flexible spaces ideal for businesses seeking a prestigious address in Hartford County. The Simsbury Professional Center comprises a total of 2,271 square feet situated on a 1.19-acre lot. Currently, the entire building is vacant and available for lease, presenting a unique opportunity for a single tenant to occupy the entire space or for multiple tenants to lease individual suites. The property offers a range of sizes, with a minimum divisible space of 350 square feet and a maximum contiguous space of 1,921 square feet. A particularly attractive option is the 1,921 square foot second-floor space, previously used as an accountant's office, which is well-lit and offers an appealing work environment. For smaller businesses, a 350 square foot first-floor office is available, complete with a closet or file room and its own separate entrance. This property is classified as an Executive Office, Commercial space and is perfect for businesses seeking a professional and convenient location in Simsbury. The property's location in Hartford County provides easy access to major transportation routes and amenities. Contact us today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Simsbury
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8009
    Latitude
    41.8785

    Comparable in this City

    • Value Estimation by Request
      1,336 SF

      573rd Hopmeadow St, Unit 3

      CONDOMINIUM OFFICES • 1,336 SF
      573rd Hopmeadow St, Simsbury, CT 06070-2416
      View Details
    • Value Estimation by Request
      2,249 SF

      573rd Hopmeadow St, Unit 10

      CONDOMINIUM OFFICES • 2,249 SF
      573rd Hopmeadow St, Simsbury, CT 06070-2416
      View Details
    • Value Estimation by Request
      15,000 SF

      30 Dorset Xing Dr

      Medical Office Space • 15,000 SF
      30 Dorset Xing Dr, Simsbury, CT 06070
      View Details
    • Value Estimation by Request
      1,685 SF

      573rd Hopmeadow St, Unit 7

      CONDOMINIUM OFFICES • 1,685 SF
      573rd Hopmeadow St, Simsbury, CT 06070-2416
      View Details
    • Value Estimation by Request
      1,752 SF

      573rd Hopmeadow St, Unit 8

      CONDOMINIUM OFFICES • 1,752 SF
      573rd Hopmeadow St, Simsbury, CT 06070-2416
      View Details
    • Value Estimation by Request
      1,693 SF

      573rd Hopmeadow St, Unit 2

      CONDOMINIUM OFFICES • 1,693 SF
      573rd Hopmeadow St, Simsbury, CT 06070-2416
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000 SF

      Simsbury Office Building For Sale

      Two-story office building in park-like setting, potential for multiple uses.
      10 Mill Pond Ln, Simsbury, CT 06070
      View Details
    • Contact for pricing
      15,000 SF

      Simsbury Medical Office Building

      Premier medical office building in Simsbury, Connecticut for sale.
      30 Dorset Xing Dr, Simsbury, CT 06070
      View Details
    • Contact for pricing
      9,998 SF

      Retail Property with Full Basement

      Two-story retail property with a full basement for sale.
      720 Hopmeadow St, Simsbury, CT 06070
      View Details
    • Contact for pricing

      Simsbury Land For Sale

      Land available in Simsbury with frontage retail opportunity.
      1503 Hopmeadow St, Simsbury, CT 06070
      View Details
    • Contact for pricing
      25,979 SF

      Multi-Tenant Industrial Investment Opportunity

      Stabilized, fully occupied industrial property with long-term tenants.
      8 Herman Dr, Simsbury, CT 06070
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Simsbury Office Space Available

      Office spaces for rent ranging from 1,803 to 3,000 SqFt.
      507 Hopmeadow St, Simsbury, CT 06070
      View Details
    • $1,800 /Mo
      1,086 SF

      Retail/Office Space For Rent

      Retail or office space available in high-traffic location.
      134 West St, Simsbury, CT 06070
      View Details
    • $20 SF/Yr
      39,475 SF

      Signature Office Building in Simsbury

      Office building for lease with excellent location and views.
      86 Hopmeadow St, Simsbury, CT 06070
      View Details
    • $20 SF/Yr
      43,832 SF

      Simsbury Retail and Office Space

      Retail and office spaces available in Simsbury, Connecticut.
      828 Hopmeadow St, Simsbury, CT 06070
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail property available for lease in Simsbury, Connecticut.
      Simsbury Rd, Simsbury, CT 06070
      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.
    883-885 Hopmeadow St
    Simsbury, CT 06070
    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
    883-885 Hopmeadow St, Simsbury, CT, 06070
    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!