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    Property profile & analytics

    12 Progress Dr Cromwell, CT 06416-1034

    • Industrial land
    • 1.60 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1200540
    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

    • Industrial land

    Property Details for 12 Progress Dr

    Lot size
    1.60 lot acres
    Zone code
    IND
    Property type
    Industrial land
    APN
    CROM M:00521100
    APU
    CROMM00521100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cromwell
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.711
    Latitude
    41.6164
    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
    $2,872
    $97,650
    $0.00
    $97,650
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      8.54 Acres

      14 Progress Dr

      INDUSTRIAL - VACANT LAND • 8.54 Acres
      14 Progress Dr, Cromwell, CT 06416-1034
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    • Value Estimation by Request
      14.83 Acres

      231 Shunpike Rd

      INDUSTRIAL - VACANT LAND • 14.83 Acres
      231 Shunpike Rd, Cromwell, CT 06416-1121
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      8.25 Acres

      70 Commerce Dr

      INDUSTRIAL - VACANT LAND • 8.25 Acres
      70 Commerce Dr, Cromwell, CT 06416-1167
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    • Value Estimation by Request
      0.70 Acres

      70 Countyline Dr

      INDUSTRIAL - VACANT LAND • 0.70 Acres
      70 Countyline Dr, Cromwell, CT 06416-1175
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    • Value Estimation by Request
      1.21 Acres

      129 Sebethe Dr

      INDUSTRIAL - VACANT LAND • 1.21 Acres
      129 Sebethe Dr, Cromwell, CT 06416-1033
      View Details
    • Value Estimation by Request
      13.01 Acres

      10 Sebethe Dr

      INDUSTRIAL - VACANT LAND • 13.01 Acres
      10 Sebethe Dr, Cromwell, CT 06416-1015
      View Details

    Similar Nearby for Sale

    • $395,000

      Industrial Land Near I-91

      8.54 acre industrial land parcel with highway access.
      14 Progress Dr, Cromwell, CT 06416
      View Details
    • Contact for pricing

      Cromwell, CT Industrial Land

      ±23.6 Acres, Multi-Use Potential
      210 Court St, Cromwell, CT 06416
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    • $1,150,000

      Cromwell Land Opportunity

      Land available in Cromwell, Connecticut.
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    • $1,500,000

      Prime Land with I-91 Visibility

      13-acre site ideal for office, retail, hospitality, and self-storage.
      10 Sebethe Dr, Cromwell, CT 06416
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      Cromwell Land Opportunity

      Land suitable for industrial, fulfillment, medical, or sports facility.
      210 Shunpike Rd, Cromwell, CT 06416
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    • $1,500,000
      13.00 Acres

      Cromwell, CT Commercial Land - $1.5M

      ±13-acre site, I-91 visibility, high traffic.
      10 Sebethe Dr, Cromwell, CT 06416
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,872 SF

      Cromwell Square Shopping Center

      High-traffic retail space, Route 372
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      View Details
    • Contact for pricing
      5,522 SF

      Retail Space in Cromwell Center

      Highly visible end-cap location at a busy Cromwell intersection.
      195 West St, Cromwell, CT 06416
      View Details
    • $650 /Mo
      200 SF

      One-Room Office Space Available

      One-room office space with private entrance and parking.
      110 Court St, Cromwell, CT 06416
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    • $2,800 /Mo

      Main Street Commercial Space Available

      Retail and office spaces for rent on Main Street.
      542 Main St, Cromwell, CT 06416
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    • $20 SF/Yr
      4,800 SF

      New Construction Industrial Flex Space

      New construction industrial condominium units for lease, convenient location.
      60 Countyline Dr, Cromwell, CT 06416
      View Details
    • Contact for pricing
      46,627 SF

      Cromwell Retail Space For Lease

      Prime Retail Location, Multiple Units Available
      136 Berlin Rd, Cromwell, CT 06416
      View Details
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    12 Progress Dr
    Cromwell, CT 06416-1034
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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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