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    Middle Tpke Manchester, CT 06040
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    Middle Tpke, Manchester, CT 06040

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    Current Use by Public Records

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    Property Details for 0 Middle Tpke

    Property type
    Specialty properties
    Property subtype
    Neighborhood centers

    Description

    The Manchester Parkade, a dominant shopping center in central Manchester, CT, offers a prime retail or restaurant opportunity. Anchored by Super Stop & Shop, Planet Fitness, and Dollar Tree, this center boasts exceptional visibility and high traffic volume, outperforming other retail centers in the area except for Buckland Hills Mall. Currently, 22,070 square feet of space is available, divisible into units as small as 1,900 square feet, with a maximum contiguous space of 10,150 square feet. The property is a multi-tenant strip center with a total of 31 suites. Its strategic location ensures easy access and convenience for customers, making it an ideal location for businesses seeking high foot traffic and strong visibility. This is a rare opportunity to secure space in a thriving retail center with established anchors and a proven track record of success. The available space is perfect for a variety of retail or restaurant concepts seeking a high-traffic location in a bustling community. The property's strong tenant mix and dominant market position make it an attractive investment opportunity. Contact us today to learn more about this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5402
    Latitude
    41.7781

    Comparable in this City

    • Value Estimation by Request
      139,123 SF

      190 Buckland Hills Dr

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      14,400 SF

      654 Center St

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      654 Center St, Manchester, CT 06040
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      36,104 SF

      283-307 Center St

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      283-307 Center St, Manchester, CT 06040
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    • Value Estimation by Request
      1,536 SF

      All Star Wine & Liquor

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      0 All Star Wine & Liquor, Manchester, CT 06040
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    • Value Estimation
      $5,715,000
      86,063 SF

      210 Spencer St

      SHOW ROOM, WAREHOUSE
      210 Spencer St, Manchester, CT 06040-4618
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    • Value Estimation
      $7,370,000
      69,160 SF

      286 Broad St

      SHOW ROOM, WAREHOUSE
      286 Broad St, Manchester, CT 06040-4049
      View Details

    Similar Nearby for Sale

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      Convenience Store & Coffee Shop

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      Manchester Commercial Property For Sale

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    Similar Nearby for Lease

    • $10 SF/Yr
      6,400 SF

      Manchester Commercial Space For Lease

      Retail or office space available in a desirable location.
      319 Broad St, Manchester, CT 06040
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      Mixed-Use Property on Route 44

      Retail, office, and flex space with high visibility.
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      1,800 SF

      Retail Space in Manchester Center

      Neighborhood strip center with high visibility and easy highway access.
      210-244 Spencer St, Manchester, CT 06040
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, ranging from 7,500 to 24,711 square feet.
      425 Broad St, Manchester, CT 06040
      View Details
    • $950 /Mo
      900 SF

      Commercial Space for Rent

      Commercial space available for rent, suitable for various businesses.
      521 Middle Tpke East, Manchester, CT 06040
      View Details
    • $1,400 /Mo
      441 SF

      Commercial Space in Manchester, CT

      Commercial space with high visibility suitable for various businesses.
      464 E Center St, Manchester, CT 06040
      View Details
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    Middle Tpke
    Manchester, CT 06040
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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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