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    Property profile & analytics

    1046 Colony Rd Wallingford, CT 06492-1764

    • Commercial real estate
    • 119,598 SF
    • 18.43 lot acres
    OFF-MARKET
    Value Estimations
    $14,985,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1037716
    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

    • BJ's Bakery / Bakery
    • BJ's Optical / Optometrist / Contact Lenses Supplier
    • BJ's Tire Center / Tire Shop / Propane Supplier
    • BJ's Wholesale Club / Bakery / Propane Supplier
    • AT&T Store / Cell Phone Store / Cell Phone Accessory Store

    Property Details for 1046 Colony Rd

    Year built
    2006
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    18.43 lot acres
    Property size
    119,598 SF
    Property type
    Commercial real estate
    APN
    WALL M:037 L:026
    APU
    WALLM037L026

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,726,000
      Market price range: $8.46M - $16.7M
      AI Estimate
      $13,238,000
      Market price range: $4.09M - $13.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $11,810,000
      Current use
      RESTAURANT
      $17,490,000
      Change: +48% Conversion: Difficult
      RETAIL STORES
      $12,975,000
      Change: +10% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $12,520,000
      Change: +6% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $10,850,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wallingford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8065
    Latitude
    41.4951
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, 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
    $320,273
    $4,917,000
    $5,998,900
    $10,915,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.56 Acres

      10 George St

      COMMERCIAL (GENERAL) • 0.56 Acres
      10 George St, Wallingford, CT 06492-4008
      View Details
    • Value Estimation by Request
      9.06 Acres

      230 Main St

      COMMERCIAL (GENERAL) • 9.06 Acres
      230 Main St, Wallingford, CT 06492-6201
      View Details
    • Value Estimation by Request
      8,100 SF

      12 Wallace Ave

      COMMERCIAL CONDOMINUIM • 8,100 SF
      12 Wallace Ave, Wallingford, CT 06492-4213
      View Details
    • Value Estimation
      $18,635,000
      172,027 SF

      844 Colony Rd

      SHOW ROOM, WAREHOUSE • 172,027 SF
      844 Colony Rd, Wallingford, CT 06492-2771
      View Details
    • Value Estimation by Request
      2,015 SF

      1033 Colony Rd

      SHOW ROOM, WAREHOUSE • 2,015 SF
      1033 Colony Rd, Wallingford, CT 06492-1704
      View Details
    • Value Estimation
      $5,365,000
      62,556 SF

      920 Colony Rd

      SHOW ROOM, WAREHOUSE • 62,556 SF
      920 Colony Rd, Wallingford, CT 06492-5267
      View Details

    Similar Nearby for Sale

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      Wallingford Commercial Building - High Visibility

      Prime location, 4000 sq ft, high traffic count.
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      Wallingford Commercial Building For Sale

      Prime location, spacious, well-maintained building.
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      Wallingford Commercial Space - $18M

      Prime Retail Space, High Traffic Area, 3600 SF
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      Wallingford Mixed-Use Commercial Building

      Prime Wallingford location, mixed-use potential.
      330 Colony St, Wallingford, CT 06492
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      Wallingford Commercial Building - Prime Location

      Spacious 4,475 sq ft commercial building, ideal for various uses.
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      Wallingford Office Condo - Great Value!

      3,020 sq ft Office Condo, Prime Location
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    Similar Nearby for Lease

    • $7 SF/Yr
      215,000 SF

      North Plains Industrial Park Office Space

      Versatile Office/Industrial Space Available
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      View Details
    • Contact for pricing
      8,326 SF

      Wallingford Office Suites

      Health & Wellness Center Office Space
      100 Center St, Wallingford, CT 06492
      View Details
    • $2,495 /Mo
      1,200 SF

      Office Space with Flexible Layout

      Office space featuring conference room, kitchenette, and ample parking.
      451 Ward Street Ext, Wallingford, CT 06492
      View Details
    • $20 SF/Yr
      1,750 SF

      Wallingford Retail Space For Rent

      1,750 SF retail space available in Wallingford, Connecticut.
      200 Church St, Wallingford, CT 06492
      View Details
    • $6 SF/Yr
      15,271 SF

      Wallingford Industrial Warehouse Space

      15,271 square foot warehouse in Wallingford Industrial Park.
      50 Barnes Industrial Park N, Wallingford, CT 06492
      View Details
    • $22 SF/Yr
      6,637 SF

      Class A Office Building

      83,654 SF Class A office building with highway access.
      35 Thorpe Ave, Wallingford, CT 06492
      View Details

    Property Visit Statistics

    • Visits by month
      112.2k
    • Visitors by month
      62.3k
    • Avg Time on site
      31 min
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    1046 Colony Rd
    Wallingford, CT 06492-1764
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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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