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    1395 Middletown Ave Northford, CT 06472
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    1395 Middletown Ave Northford, CT 06472

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    • Showrooms
    • 10,440 SF
    • 2.60 lot acres
    For Sale
    $1,600,000
    View Listing →
    Northford Retail Building with Drive-Thru For Sale
    $1,600,000
    10,440 SF

    Northford Retail Building with Drive-Thru

    10,440 SF retail building on 2.6 acres in Northford.

    1395 Middletown Ave, Northford, CT
    View Listing
    Property ID
    US15-0680755
    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

    • Rite Aid Pharmacy / Pharmacy
    • Rite Aid Photo / (Bike/Boat/Book/etc) Store
    • Judith Olsen / Pharmacy
    • Rickey King / Pharmacy
    • higi / Physician

    Property Details for 1395 Middletown Ave

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    2.60 lot acres
    Property size
    10,440 SF
    Property type
    Showrooms
    APN
    NBRA M:62-B B:33
    APU
    NBRAM62BB33

    Description

    This exceptional 10,440-square-foot retail building, formerly a Rite-Aid, presents a unique investment opportunity in Northford, Connecticut. Situated on a 2.6-acre lot, the single-story structure boasts a convenient drive-thru and enjoys unparalleled visibility on Route 17, a high-traffic area with an average daily traffic count exceeding 16,600 vehicles. Built in 2002, the property is zoned B-2 (Central Business District), allowing for a diverse range of uses. Permitted uses include retail stores, professional offices, banks and financial institutions, medical and veterinary offices, restaurants and fast food establishments, hotels and motels, and indoor theaters or assembly halls. The building's ample size and versatile zoning make it ideal for a variety of businesses seeking a prominent location in a thriving community. The property offers significant potential for a business looking to establish a strong presence in Northford. The lease rate is $14 per square foot, NNN.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,050,000
      Market price range: $436k - $1.05M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,175,000
      Current use
      RESTAURANT
      $1,525,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $1,170,000
      Change: -1% Conversion: Easy
      RETAIL STORES
      $1,135,000
      Change: -4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,095,000
      Change: -7% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $945,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Northford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.7908
    Latitude
    41.3926
    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
    $62,101
    $309,100
    $1,489,900
    $1,799,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,055 SF

      859 Frst Rd

      SHOW ROOM, WAREHOUSE • 1,055 SF
      859 Frst Rd, Northford, CT 06472-4405
      View Details
    • Value Estimation by Request
      4,804 SF

      1447 Middletown Ave

      SHOW ROOM, WAREHOUSE • 4,804 SF
      1447 Middletown Ave, Northford, CT 06472-7733
      View Details
    • Value Estimation by Request
      3,343 SF

      1867 Middletown Ave

      SHOW ROOM, WAREHOUSE • 3,343 SF
      1867 Middletown Ave, Northford, CT 06472-1147
      View Details
    • Value Estimation by Request
      2,640 SF

      1874 Middletown Ave

      SHOW ROOM, WAREHOUSE • 2,640 SF
      1874 Middletown Ave, Northford, CT 06472-1143
      View Details
    • Value Estimation
      $1,195,000
      13,808 SF

      1565 Middletown Ave

      SHOW ROOM, WAREHOUSE • 13,808 SF
      1565 Middletown Ave, Northford, CT 06472-1066
      View Details
    • Value Estimation by Request
      980 SF

      518 Frst Rd

      SHOW ROOM, WAREHOUSE • 980 SF
      518 Frst Rd, Northford, CT 06472-1485
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,440 SF

      Northford Retail Building with Drive-Thru

      10,440 SF retail building on 2.6 acres in Northford.
      1395 Middletown Ave, Northford, CT 06472
      View Details
    • $4,750,000
      37,769 SF

      North Branford Commercial Building For Sale

      Two-story, 37,769 SF building on 5.12 acres near retail.
      26 Old Post Rd, North Branford, CT 06472
      View Details

    Similar Nearby for Lease

    • $1,700 /Mo
      1,264 SF

      Retail Space in Downtown Northford

      Retail space in a strip mall at a convenient location.
      855 Forest Rd, North Branford, CT 06472
      View Details
    • Contact for pricing

      Flexible Office Space Available

      Adaptable office building with customizable floor plans for lease.
      1003 Middletown Ave, North Branford, CT 06472
      View Details
    View Listing
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    Northford, CT 06472
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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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    1395 Middletown Ave, Northford, CT, 06472
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