Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1024 Silas Deane Hwy Wethersfield, CT 06109-4231

    • Parking lots & garages
    • 12,084 SF
    • 1.50 lot acres
    OFF-MARKET
    Value Estimations
    $945,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0536042
    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

    • Goodyear Commercial Tire & Service Centers / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 1024 Silas Deane Hwy

    Year built
    1950
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.50 lot acres
    Property size
    12,084 SF
    Zone code
    RC
    Property type
    Parking lots & garages
    APN
    WETH M:240 B:004
    APU
    WETHM240B004

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $1,015,000
      Current use
      RESTAURANT
      $1,385,000
      Change: +37% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,295,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $1,165,000
      Change: +15% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $945,000
      Change: -7% Conversion: Difficult
      OFFICE BUILDING
      $940,000
      Change: -7% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $905,000
      Change: -11% Conversion: Difficult
      MEDICAL BUILDING
      $860,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wethersfield
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6556
    Latitude
    41.6949
    CBSA code
    25540
    CBSA name
    HARTFORD-WEST HARTFORD-EAST HARTFORD, 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
    $23,502
    $178,500
    $384,010
    $562,510
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,275 SF

      1652 Berlin Tpke

      PARKING GARAGE, PARKING STRUCTURE • 1,275 SF
      1652 Berlin Tpke, Wethersfield, CT 06109-1304
      View Details
    • Value Estimation by Request
      1,296 SF

      1745 Berlin Tpke

      PARKING GARAGE, PARKING STRUCTURE • 1,296 SF
      1745 Berlin Tpke, Wethersfield, CT 06109-1303
      View Details
    • Value Estimation by Request
      1,050 SF

      47 Lancaster Rd

      PARKING GARAGE, PARKING STRUCTURE • 1,050 SF
      47 Lancaster Rd, Wethersfield, CT 06109
      View Details
    • Value Estimation
      $855,000
      10,062 SF

      58 Maple St

      PARKING GARAGE, PARKING STRUCTURE • 10,062 SF
      58 Maple St, Wethersfield, CT 06109-3446
      View Details
    • Value Estimation by Request
      2,182 SF

      63 Wolcott Hl Rd

      PARKING GARAGE, PARKING STRUCTURE • 2,182 SF
      63 Wolcott Hl Rd, Wethersfield, CT 06109-1164
      View Details
    • Value Estimation
      $745,000
      8,135 SF

      1816 Berlin Tpke

      PARKING GARAGE, PARKING STRUCTURE • 8,135 SF
      1816 Berlin Tpke, Wethersfield, CT 06109-1324
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Property For Sale

      Retail property available for purchase in Wethersfield, Connecticut.
      872 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • Contact for pricing
      14,000 SF

      Retail Development Opportunity Near I-91

      Retail development opportunity off I-91 for ground lease or build-to-suit.
      1760 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • $469,000

      Highland Street Specialty Property

      Specialty property available for sale on Highland Street.
      88 Highland St, Wethersfield, CT 06109
      View Details
    • $320,000

      Oakdale Street Specialty Property

      Specialty property available for sale on Oakdale Street.
      67 Oakdale St, Wethersfield, CT 06109
      View Details
    • $625,000

      Wethersfield Specialty Property for Sale

      Specialty property available in Wethersfield, Connecticut.
      5 Robeth Ln, Wethersfield, CT 06109
      View Details
    • $368,500

      Prospect Street Specialty Property

      Specialty property available for sale on Prospect Street.
      155 Prospect St, Wethersfield, CT 06109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      178,888 SF

      Wethersfield Retail Center Investment

      High-traffic retail space available
      1380-1430 Berlin Tpke, Wethersfield, CT 06109
      View Details
    • Contact for pricing
      2,630 SF

      Retail Space on Silas Deane

      Retail space available for lease on Silas Deane Highway.
      1345 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • Contact for pricing
      624 SF

      Wethersfield Retail Space Available

      Retail space available for rent in Wethersfield, Connecticut.
      27 Town Line Rd, Wethersfield, CT 06109
      View Details
    • Contact for pricing
      174,679 SF

      Wethersfield Retail Center Opportunity

      High-traffic retail space, 9 suites available
      1380-1430 Berlin Tpke, Wethersfield, CT 06109
      View Details
    • Contact for pricing
      9,500 SF

      Renovated Retail and Flex Space

      Renovated retail/flex space with high visibility and easy highway access.
      898-904 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • $4,000 /Mo
      1,800 SF

      Wethersfield Retail Space For Rent

      Prime retail space suitable for various businesses, high-traffic location.
      708 Silas Deane Hwy, Wethersfield, CT 06109
      View Details

    Property Visit Statistics

    • Visits by month
      21.1k
    • Visitors by month
      12.0k
    • Avg Time on site
      11 min
    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.
    1024 Silas Deane Hwy
    Wethersfield, CT 06109-4231
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!