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    1585 Meriden Rd Wolcott, CT 06716

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    1585 Meriden Rd Wolcott, CT 06716

    View on Map
    • Showrooms
    • 11,472 SF
    • 1.42 lot acres
    For Lease
    $12 SF/Yr
    View Listing →
    Retail Space For Lease For Lease
    $12 SF/Yr
    1,500 SF

    Retail Space For Lease

    1,500 SF retail space for lease on Waterbury line.

    1585 Meriden Rd, Wolcott, CT 6716
    View Listing
    Property ID
    US15-1037310
    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
    $520,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tray’s Barbershop / Barber Shop
    • Express Mart / Grocery & Convenience Store
    • PB & JELLY DELI / Take-out & Catering
    • Eagle Barber Shop / Barber Shop
    • China Wok / Restaurant

    Property Details for 1585 Meriden Rd

    Year built
    1976
    Construction
    FRAME
    Lot size
    1.42 lot acres
    Property size
    11,472 SF
    Zone code
    GC
    Property type
    Showrooms
    APN
    WOLC M:124B B:1 L:49
    APU
    WOLCM124BB1L49

    Description

    This exceptional retail opportunity presents a 1,500 square foot space available for lease within the Farmingbury Center, located at 1585 Meriden Road in Wolcott, Connecticut, zip code 06716. Situated on a 1.42-acre lot, this strip center property offers convenient access and high visibility. The building, constructed in 1976, is zoned GC and falls within New Haven County. The space is ideal for a single tenant seeking a minimum of 1,500 square feet, with a maximum contiguous space also of 1,500 square feet. The property's strategic location directly across from Carabetta Apartments, near the Waterbury border, ensures high foot traffic and excellent exposure to a substantial customer base. This presents a unique chance to establish or expand a retail business in a thriving area. The total building square footage is 1 square foot, indicating this listing represents a single available unit within a larger complex. Interested parties should note that the minimum leasable space is 1,500 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $622,000
      Market price range: $447k - $1.38M
      AI Estimate
      $578,000
      Market price range: $447k - $1.38M

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

    Location Insight

    • Map
    • Local Demand
    City
    Wolcott
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9613
    Latitude
    41.5552
    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
    $15,527
    $130,470
    $356,740
    $487,210
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      605 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 1,200 SF
      605 Wolcott Rd, Wolcott, CT 06716-2429
      View Details
    • Value Estimation
      $585,000
      17,811 SF

      1 Town Line Rd

      SHOW ROOM, WAREHOUSE • 17,811 SF
      1 Town Line Rd, Wolcott, CT 06716-2625
      View Details
    • Value Estimation
      $520,000
      4,000 SF

      1515 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 4,000 SF
      1515 Wolcott Rd, Wolcott, CT 06716-1351
      View Details
    • Value Estimation by Request
      4,800 SF

      654 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 4,800 SF
      654 Wolcott Rd, Wolcott, CT 06716-2445
      View Details
    • Value Estimation
      $655,000
      12,572 SF

      1639 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 12,572 SF
      1639 Wolcott Rd, Wolcott, CT 06716-1326
      View Details
    • Value Estimation by Request
      9,230 SF

      1651 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 9,230 SF
      1651 Wolcott Rd, Wolcott, CT 06716-1326
      View Details

    Similar Nearby for Sale

    • $1,980,000
      13,878 SF

      Wolcott Retail Space For Sale

      Retail property in high-traffic Wolcott location with long-term tenants.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • $499,900
      2,382 SF

      High-Visibility Commercial Property Opportunity

      Legacy property with high traffic, visibility, and potential.
      399 Wolcott Rd, Wolcott, CT 06716
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    • Contact for pricing
      2,258 SF

      Wolcott Commercial Building For Sale

      2,258 SF commercial building suitable for various business uses.
      1387 Meriden Rd, Wolcott, CT 06716
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    • $899,900
      4,780 SF

      Turn Key Restaurant/Bar Opportunity

      4780 SF restaurant/bar with full kitchen and ample parking.
      1512 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $525,000
      Pending

      Turnkey Restaurant & Bar Business

      Thriving restaurant/bar with high traffic location and excellent potential.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • $575,000
      2,484 SF

      Turnkey Restaurant Business Opportunity

      Established restaurant with loyal customer base on busy Wolcott Road.
      524 Wolcott Rd, Wolcott, CT 06716
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      3,500 SF

      Retail and Warehouse Space Available

      Retail and warehouse spaces for lease, separately or together.
      95 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $2,000 /Mo
      2,000 SF

      Wolcott Commercial Space For Lease

      Retail or office space available in high-traffic Wolcott location.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • Contact for pricing

      Commercial Zoned Land For Lease

      4.89 +/- acres of commercial land for lease.
      Cor Of Wolcott St & Ctr St, Wolcott, CT 06716
      View Details
    • Contact for pricing

      Retail Space For Lease

      1,500 SF retail space for lease on Waterbury line.
      1585 Meriden Rd, Wolcott, CT 06716
      View Details
    • $14 SF/Yr

      Wolcott Road Commercial Space

      Commercial space available for lease on Wolcott Road.
      102 Wolcott Rd, Waterbury, CT 06716
      View Details
    View Listing
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    Wolcott, CT 06716
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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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    1585 Meriden Rd, Wolcott, CT, 06716

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