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    Property profile & analytics

    1545 Monroe Tpke Monroe, CT 06468

    • Commercial real estate
    • 10.03 lot acres
    For Lease
    View listing
    $10 SF/Yr
    Last Sale
    Sep 16, 2021
    $1,100,000
    Value Estimations
    $1,250,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0001316
    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

    • Zwally Hauling LLC. / Trucking Company / Construction Company

    Property Details for 1545 Monroe Tpke

    Lot size
    10.03 lot acres
    Property type
    Commercial real estate
    APN
    MONR M:150 B:001 L:03
    APU
    MONRM150B001L03

    Description

    This exceptional Class A retail property, situated on 40.18 acres at 1545 Monroe Turnpike, offers a unique opportunity for a variety of businesses. The 25,000 square foot, two-story building boasts a highly visible location at the intersection of Route 34 and Route 111, providing easy access to New Haven, Danbury, Trumbull, and Bridgeport. The property's strategic placement offers excellent exposure to a large customer base. Currently, 17,000 square feet of space is available for lease, ideal for a restaurant or other high-traffic businesses. The building features a 15-foot-high free-standing structure with concrete flooring and an impressive 800 Amp electrical service. Ample parking is available, a significant advantage for customers and employees. Its proximity to two boat launches on Lake Zoar adds to its appeal, making it suitable for businesses catering to recreational activities. The flexible space is adaptable to various uses, including but not limited to auto or boat dealerships, brew pubs, manufacturing, flex space, educational facilities, offices, and restaurants. Built in 1987, this property benefits from its established location and the owner's commitment to tenant success. The high visibility and convenient access from state roads make this a truly exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,250,000
      ML approach
      $1,335,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.1913
    Latitude
    41.3824
    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
    2024
    $30,494
    $569,600
    $227,200
    $796,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $215,000
      8.44 Acres

      477 Main St

      COMMERCIAL (GENERAL) • 8.44 Acres
      477 Main St, Monroe, CT 06468-1139
      View Details
    • Value Estimation
      $510,000
      14,132 SF

      721 Main St

      SHOW ROOM, WAREHOUSE • 14,132 SF
      721 Main St, Monroe, CT 06468-2810
      View Details
    • Value Estimation
      $755,000
      24,688 SF

      380 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 24,688 SF
      380 Monroe Tpke, Monroe, CT 06468-2279
      View Details
    • Value Estimation
      $1,775,000
      3,315 SF

      145 Main St

      SHOW ROOM, WAREHOUSE • 3,315 SF
      145 Main St, Monroe, CT 06468
      View Details
    • Value Estimation
      $455,000
      13,320 SF

      731 Main St

      COMMERCIAL (GENERAL) • 13,320 SF
      731 Main St, Monroe, CT 06468-2872
      View Details
    • Value Estimation
      $735,000
      22,612 SF

      500 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 22,612 SF
      500 Monroe Tpke, Monroe, CT 06468-2354
      View Details

    Similar Nearby for Sale

    • $900,000
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      Prime Monroe Commercial Land

      1.96 Acres, High Visibility, $900,000
      528 Monroe Tpke, Monroe, CT 06468
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      Monroe Main Street Mixed-Use Opportunity

      Prime Monroe location, 8,832 sq ft, mixed-use potential.
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      Prime Monroe Industrial Property

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    • $2,366,000
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      NNN Leased Retail Investment Property

      Retail property with NAPA Auto Parts and Webster Bank tenants.
      495 Monroe Tpke, Monroe, CT 06468
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    • $895,000
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      Mixed-Use Property in Monroe, CT

      Two-story building with retail space and potential for apartments.
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    • $949,900

      Block Farm Road Property

      Property at Block Farm Rd, Monroe, CT 06468 for sale.
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    Similar Nearby for Lease

    • Contact for pricing
      1,450 SF

      Monroe Drive-Thru Retail Space

      Prime Retail Endcap, Build-to-Suit Available
      846 Main St, Monroe, CT 06468
      View Details
    • $550 /Mo
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      Professional Office Space For Rent

      Unfurnished office space with utilities included, ideal for professionals.
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      View Details
    • $1,200 /Mo
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      Monroe Office Space For Lease

      Second floor office space in Stepney Green location, Monroe, CT.
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      View Details
    • $30 SF/Yr
      2,400 SF

      Monroe Main Street Retail/Office Space

      2400 SF Office Space, High Traffic Area
      856 Main St, Monroe, CT 06468
      View Details
    • $10,416 /Mo

      Commercial Land on Commuter Route

      Highly visible commercial land for rent on Route 111.
      528 Monroe Tpke, Monroe, CT 06468
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Ideal for Bank

      Retail space suitable for bank pad or light office.
      255 Monroe Tpke, Monroe, CT 06468
      View Details
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    Monroe, CT 06468
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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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