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    Berlin Tpke Berlin, CT 06037
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    Berlin Tpke Berlin, CT 06037

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    • Land
    • 3.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Berlin Tpke

    Lot size
    3.50 lot acres
    Property type
    Land

    Description

    This exceptional ±3.5-acre commercial land parcel presents a unique investment opportunity in Berlin, Connecticut. Strategically located on Berlin Turnpike, the property boasts an impressive 473 feet of frontage, ensuring high visibility and accessibility. The site is zoned BT-2, permitting a wide range of commercial uses, including self-storage facilities. Its completely level topography simplifies development and minimizes site preparation costs. The property's convenient location offers easy access to Route 5/15, placing it in close proximity to significant traffic flow and a variety of amenities. The neighboring Hawthorne Inn further enhances the property's desirability and potential for synergistic development. This expansive lot provides ample space for a variety of commercial ventures, making it an ideal investment for developers and entrepreneurs seeking a high-impact location in a thriving Connecticut market. The asking price for this exceptional property is $900,000. Parcel number 27-2-153-20. Don't miss this chance to acquire a premier commercial site in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Berlin
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7511
    Latitude
    41.6055

    Comparable in this City

    • Value Estimation by Request
      30,120 SF

      259-279 New Britain Rd

      Land • 30,120 SF
      259-279 New Britain Rd, Berlin, CT 06037
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    • Value Estimation by Request

      404 Berlin Tpke

      Land
      404 Berlin Tpke, Berlin, CT 06037
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    • Value Estimation by Request
      5.00 Acres

      500 Berlin Tpke

      Land • 5.00 Acres
      500 Berlin Tpke, Berlin, CT 06037
      View Details
    • Value Estimation by Request
      4.90 Acres

      15 Mill St

      Land • 4.90 Acres
      15 Mill St, Berlin, CT 06037
      View Details
    • Value Estimation
      $555,000
      4.16 Acres

      120 Berlin Tpke

      COMMERCIAL (GENERAL) • 4.16 Acres
      120 Berlin Tpke, Berlin, CT 06037-1504
      View Details
    • Value Estimation
      $2,795,000
      14,315 SF

      10 Chamberlain Hwy

      COMMERCIAL (GENERAL) • 14,315 SF
      10 Chamberlain Hwy, Berlin, CT 06037-1921
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Rent Berlin

      Land available for rent in Berlin, Connecticut.
      129 Mill St, Berlin, CT 06037
      View Details
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      Land Available on Berlin Turnpike

      Two lots available on Berlin Turnpike with high visibility.
      500 Berlin Tpke, Berlin, CT 06037
      View Details
    • Contact for pricing

      Commercial Redevelopment Site on Turnpike

      1.49 acre commercial redevelopment site for sale or land lease.
      102 Berlin Tpke, Berlin, CT 06037
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    • $595,000
      Pending

      75.8 Acres Industrial Land Berlin

      75.8-acre industrial property in northern Berlin, suitable for development.
      303 New Britain Rd, Berlin, CT 06037
      View Details

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    Berlin, CT 06037
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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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