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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    159 Rainbow Rd East Granby, CT 06026

    • Showrooms
    • 3,108 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Mar 14, 2024
    $190,000
    Value Estimations
    $185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0395845
    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

    • Caro Car Rental Hartford Bradley Airport / Car Rental Agency

    Property Details for 159 Rainbow Rd

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.51 lot acres
    Property size
    3,108 SF
    Zone code
    B
    Property type
    Showrooms
    APN
    EGRA M:17 B:36
    APU
    EGRAM17B36

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $190,000
      ML approach
      $190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $166,000
      Market price range: $167k - $458k
      AI Estimate
      $156,000
      Market price range: $157k - $292k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $295,000
      Current use
      AUTO REPAIR, GARAGE
      $310,000
      Change: +6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    East Granby
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7068
    Latitude
    41.9276
    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
    $4,243
    $69,700
    $47,200
    $116,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $570,000
      7,432 SF

      150 Rainbow Rd

      SHOW ROOM, WAREHOUSE • 7,432 SF
      150 Rainbow Rd, East Granby, CT 06026-9793
      View Details
    • Value Estimation
      $460,000
      5,813 SF

      20 Copper Hl Rd

      SHOW ROOM, WAREHOUSE • 5,813 SF
      20 Copper Hl Rd, East Granby, CT 06026-9508
      View Details
    • Value Estimation
      $425,000
      4,488 SF

      27 School St

      SHOW ROOM, WAREHOUSE • 4,488 SF
      27 School St, East Granby, CT 06026-9798
      View Details
    • Value Estimation
      $1,600,000
      1,355 SF

      3 International Dr

      SHOW ROOM, WAREHOUSE • 1,355 SF
      3 International Dr, East Granby, CT 06026-9718
      View Details
    • Value Estimation
      $335,000
      4,148 SF

      4 Creamery Brk

      SHOW ROOM, WAREHOUSE • 4,148 SF
      4 Creamery Brk, East Granby, CT 06026-8702
      View Details
    • Value Estimation
      $250,000
      2,772 SF

      142 Hartford Ave

      SHOW ROOM, WAREHOUSE • 2,772 SF
      142 Hartford Ave, East Granby, CT 06026-9519
      View Details

    Similar Nearby for Sale

    • $1,250,000
      7,432 SF

      East Granby Flex Property Investment

      Prime Route 20 location, high potential.
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      Land For Sale

      Land available for purchase.
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      East Granby Specialty Property

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      East Granby Specialty Property

      Specialty property available for sale in East Granby.
      200 N Main St, East Granby, CT 06026
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    • $1,486,000

      East Granby Heliport Land Parcel

      11.44-acre commercial land with FAA heliport and development potential.
      10 Russell Rd, East Granby, CT 06026
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    • $1,200,000

      59.2 Acre Land Parcel

      Large land parcel with potential for various uses.
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    Similar Nearby for Lease

    • Contact for pricing
      10,500 SF

      Retail Space with Drive-Thru Potential

      Retail space available with drive-thru, near Bradley Airport.
      50-58 Rainbow Rd, East Granby, CT 06026
      View Details
    • $559,000
      2,024 SF

      East Granby Commercial Property

      Adaptable commercial space in East Granby with high visibility.
      5 Creamery Brk, East Granby, CT 06026
      View Details
    • Contact for pricing
      125,000 SF

      Gateway Crossing: East Granby, CT

      Prime East Granby Commercial Land
      81 Rainbow Rd, East Granby, CT 06026
      View Details
    • Contact for pricing
      55,000 SF

      East Granby Medical/Office Space

      Prime location, flexible suites, immediate occupancy.
      2 Gateway Blvd, East Granby, CT 06026
      View Details
    • $15 SF/Yr
      1,500 SF

      Restaurant/Retail Space Available

      Built-out restaurant/retail space for rent.
      3 Turkey Hills Rd, East Granby, CT 06026
      View Details
    • $15 SF/Yr
      7,432 SF

      East Granby Office Space for Lease

      Modern Office Suites, Flexible Layouts, Highway Access
      6 Creamery Brk, East Granby, CT 06026
      View Details
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    159 Rainbow Rd
    East Granby, CT 06026
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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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