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    Property profile & analytics

    15 Progress Dr, Unit Shelton Shelton, CT 06484

    • Manufacturing properties
    • 52,946 SF
    • 5.02 lot acres
    For Lease
    View listing
    Value Estimations
    $960,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0628927
    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

    • Baker Properties / Bakery

    Property Details for 15 Progress Dr

    Year built
    1980
    Lot size
    5.02 lot acres
    Property size
    52,946 SF
    Zone code
    LIP
    Property type
    Manufacturing properties
    APN
    SHEL M:28 L:5
    APU
    SHELM28L5

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $960,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $935,000
      Market price range: $771k - $2.57M

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelton
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.1327
    Latitude
    41.2755
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, 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
    $56,418
    $509,530
    $2,719,920
    $3,229,450
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $580,000
      151,075 SF

      470 Bridgeport Ave

      MANUFACTURING (LIGHT) • 151,075 SF
      470 Bridgeport Ave, Shelton, CT 06484-4713
      View Details
    • Value Estimation
      $595,000
      22,025 SF

      11 Progress Dr

      MANUFACTURING (LIGHT) • 22,025 SF
      11 Progress Dr, Shelton, CT 06484-6218
      View Details
    • Value Estimation
      $810,000
      53,995 SF

      10 Controls Dr

      MANUFACTURING (LIGHT) • 53,995 SF
      10 Controls Dr, Shelton, CT 06484-6136
      View Details
    • Value Estimation
      $655,000
      32,339 SF

      30 Frst Pkwy

      MANUFACTURING (LIGHT) • 32,339 SF
      30 Frst Pkwy, Shelton, CT 06484-6122
      View Details
    • Value Estimation
      $2,495,000
      50,608 SF

      2 Research Dr

      MANUFACTURING (LIGHT) • 50,608 SF
      2 Research Dr, Shelton, CT 06484-6225
      View Details
    • Value Estimation
      $315,000
      10,892 SF

      511 Riv Rd

      MANUFACTURING (LIGHT) • 10,892 SF
      511 Riv Rd, Shelton, CT 06484-4521
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      101,480 SF

      Shelton Flex Industrial Property

      101,480 SF flex industrial building on 7.9 acres.
      1 Parrott Dr, Shelton, CT 06484
      View Details
    • $3,000,000
      5.23 Acres

      Shelton, CT Industrial Flex Space

      Versatile Flex Space: Office, Warehouse, Land
      175 Constitution Blvd, Shelton, CT 06484
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    • $850,000

      Shelton Specialty Property For Sale

      Specialty property available for purchase in Shelton, Connecticut.
      15 Windy Acres Dr, Shelton, CT 06484
      View Details
    • $675,000

      Country Ridge Drive Property

      Property at 60 Country Ridge Dr, Shelton, CT 06484 for sale.
      60 Country Ridge Dr, Shelton, CT 06484
      View Details
    • $899,999

      Shelton Property for Sale

      Property available for purchase in Shelton, Connecticut.
      71 Old Dairy Ln, Shelton, CT 06484
      View Details
    • $824,900

      Land For Sale

      Land available for purchase.
      65 Pearmain Rd, Shelton, CT 06484
      View Details

    Similar Nearby for Lease

    • $850 /Mo

      Turn-key Office/Flex Space Available

      Second-floor office/flex space with shared amenities and easy highway access.
      17 Enterprise Dr, Monroe, CT 06484
      View Details
    • Contact for pricing
      18,730 SF

      Office and Light Industrial Building

      65,000 sq. ft. office and light industrial building for rent.
      14-16 Progress Dr, Shelton, CT 06484
      View Details
    • Contact for pricing

      Flex Building with Office Space

      53,164 SF flex building with 23,495 SF office space.
      15 Progress Dr, Shelton, CT 06484
      View Details
    • Contact for pricing
      14,771 SF

      Industrial Space Near Major Highways

      Industrial property with highway access, loading docks, and ample parking.
      100 Trap Falls Road Ext, Shelton, CT 06484
      View Details
    • $13 SF/Yr
      16,925 SF

      Shelton Flex Space Available

      Flex space with convenient highway access for lease.
      240 Long Hill Cross Rd, Shelton, CT 06484
      View Details
    • $2,950 /Mo

      Spacious 5-Bedroom Home For Rent

      Large 5-bedroom home with updated kitchen available for rent.
      53 Cliff Street Ext, Shelton, CT 06484
      View Details
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    15 Progress Dr, Unit Shelton
    Shelton, CT 06484
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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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