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    1154 Highland Ave Cheshire, CT 06410
    Property profile & analytics

    1154 Highland Ave, Cheshire, CT 06410

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    • Office buildings
    • 25,397 SF
    • 2.15 lot acres
    For Lease
    $25 SF/Yr
    View Listing →
    Class A Office Building For Lease
    $25 SF/Yr
    6,500 SF

    Class A Office Building

    Class A office building with suites available for lease.

    1154 Highland Ave, Cheshire, CT 6410
    View Listing
    Property ID
    US15-0469847
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • John Testa, MD / Physician
    • Gaylord Physical Therapy, Cheshire / Physician
    • Eaton Chen / Physician
    • Paul Fortgang / Physician
    • Ronald Hirokawa / Physician

    Property Details for 1154 Highland Ave

    Year built
    2004
    Construction
    CONCRETE
    Lot size
    2.15 lot acres
    Zone code
    I-1
    Property type
    Office buildings
    APN
    CHES M:37 B:73 L:
    APU
    CHESM37B73L

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 28, 2015 $2,347,500 Rpg Highland LLC Marshall Enterprises L Warranty Deed $2M · Thomaston Savings Bank
    Apr 2, 2002 — Marshall Ent LP — Deed Of Trust · related $2.2M · Southington Savings Bank
    Nov 15, 2000 $250,000 Marshall Ent LP Fellowship Of Life INC Warranty Deed —

    Description

    This exceptional Class A office building, located at 1154 Highland Avenue in Cheshire, Connecticut, offers a prime opportunity for businesses seeking versatile and modern workspace. The single, three-story building, constructed in 2004, boasts a total of 30,000 square feet and comprises three suites. Currently, 11,000 square feet of space is available, with individual suites ranging from 3,200 to 6,400 square feet, catering to a variety of business needs. The property sits on a generous 2.15 acres of land in New Haven County, offering ample parking and visibility. Building amenities include elevators, key card access, full conference rooms, corner offices with abundant natural light, full kitchens, and ADA-accessible bathrooms. The building's location in Cheshire, CT (zip code 06410) provides convenient access to major transportation routes and local amenities. This is an ideal opportunity for businesses seeking high-quality, well-appointed office space in a desirable location. The property's multiple suite configuration allows for flexibility in tenant size and requirements. The building's modern design and comprehensive amenities create a professional and productive work environment. This is a rare opportunity to secure premium office space in a thriving Connecticut community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,597,000
      Market price range: $1.88M - $3.95M
      AI Estimate
      $3,403,000
      Market price range: $1.34M - $3.95M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,820,000
      Current use
      RESTAURANT
      $3,715,000
      Change: +32% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,860,000
      Change: +1% Conversion: Easy
      RETAIL STORES
      $2,755,000
      Change: -2% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $2,660,000
      Change: -6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,305,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheshire
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8945
    Latitude
    41.5299
    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
    $80,895
    $192,660
    $2,112,690
    $2,305,350
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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    • Value Estimation
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    • Value Estimation
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    • Value Estimation
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      1973 Highland Ave

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    • Value Estimation
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      8,170 SF

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    Similar Nearby for Lease

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      Office and Medical Suites in Park

      Multi-suite office park offers flexible small-to-mid medical and professional spaces with ample parking near town amenities.
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      Cheshire Office/Medical Space Available

      Two-story office/medical building with ample parking and convenient highway access.
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      Class A Office Building

      Class A office building with suites available for lease.
      1154 Highland Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing
      2,392 SF

      Prime Cheshire Location, Suites Available

      Centrally located property with high accessibility and ample parking.
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      Adaptable Flex Space for Lease

      Flex space with parking and utilities near I-84 and I-691.
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    • $18 SF/Yr
      48,636 SF

      Cheshire, CT Office Space for Lease

      6,190 SF Class A Office Suite Available
      1781 Highland Ave, Cheshire, CT 06410
      View Details
    View Listing
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    Cheshire, CT 06410
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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.

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