Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16 Progress Ave Seymour, CT 06483-3921

    • Warehouses
    • 73,745 SF
    • 11.40 lot acres
    OFF-MARKET
    Last Sale
    Jun 10, 2021
    $9,000,000
    Value Estimations
    $9,100,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0790099
    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

    • Thule Group / Warehouse & Storage

    Property Details for 16 Progress Ave

    Year built
    2019
    Construction
    STEEL FRAME
    Lot size
    11.40 lot acres
    Property size
    73,745 SF
    Zone code
    GI-2
    Property type
    Warehouses
    APN
    SEYM M:1-0-5 L:12-L
    APU
    SEYMM105L12L

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,865,000
      ML approach
      $9,530,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $10,785,000
      COMMERCIAL (GENERAL)
      $8,310,000
      OFFICE BUILDING
      $8,250,000
      RETAIL STORES
      $8,000,000
      APARTMENT HOUSE (5+ UNITS)
      $7,720,000
      AUTO REPAIR, GARAGE
      $6,690,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Seymour
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0553
    Latitude
    41.3927
    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
    $73,689
    $248,430
    $1,799,630
    $2,048,060
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $600,000
      28,176 SF

      30 Great Hl Rd

      WAREHOUSE, STORAGE • 28,176 SF
      30 Great Hl Rd, Seymour, CT 06483-2249
      View Details
    • Value Estimation by Request
      9,030 SF

      249 Pearl St

      WAREHOUSE, STORAGE • 9,030 SF
      249 Pearl St, Seymour, CT 06483-3735
      View Details
    • Value Estimation
      $3,145,000
      53,736 SF

      26 Progress Ave

      WAREHOUSE, STORAGE • 53,736 SF
      26 Progress Ave, Seymour, CT 06483-3921
      View Details
    • Value Estimation by Request
      4,800 SF

      98 Silvermine Rd

      Distribution properties • 4,800 SF
      98 Silvermine Rd, Seymour, CT 06483
      View Details
    • Value Estimation
      $585,000
      28,304 SF

      32 Great Hl Rd

      WAREHOUSE, STORAGE • 28,304 SF
      32 Great Hl Rd, Seymour, CT 06483-2249
      View Details
    • Value Estimation by Request
      3,120 SF

      130 Day St

      WAREHOUSE, STORAGE • 3,120 SF
      130 Day St, Seymour, CT 06483-3403
      View Details

    Similar Nearby for Sale

    • $1,950,000
      4 SF

      Prime Land for Self-Storage

      4.56 acres zoned for self-storage development in Seymour, CT.
      109 River St, Seymour, CT 06483
      View Details
    • $2,800,000
      15.99 Acres

      Seymour Industrial Land - $2.8M

      15.99 Acres, Industrial/Residential Potential
      31 Silvermine Rd, Seymour, CT 06483
      View Details
    • $2,450,000
      12,980 SF

      Seymour, CT Mixed-Use Investment

      Prime Seymour location, high NOI, great potential.
      115/124 First St, Seymour, CT 06483
      View Details
    • $1,500,000

      Land For Sale

      Land available for sale in Seymour, CT.
      6 Chatfield St, Seymour, CT 06483
      View Details
    • $730,000

      Seymour Specialty Property For Sale

      Specialty property available for purchase in Seymour, Connecticut.
      4 Nickel Mine Dr, Seymour, CT 06483
      View Details
    • $499,000

      Remodeled Two-Family Home Investment

      Newly remodeled two-family home with modern finishes, great investment opportunity.
      26-28 Main St, Seymour, CT 06483
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      12,980 SF

      Seymour Office/Warehouse Space For Lease

      Prime Seymour location, 12,980 sqft, 5,000 sqft vacant.
      115 Main St, Seymour, CT 06483
      View Details
    • Contact for pricing
      4,800 SF

      Seymour Warehouse Space Available

      Modern warehouse, flexible space, great location.
      98 Silvermine Rd, Seymour, CT 06483
      View Details
    • $1,678 /Mo

      Commercial Garage with Office Space

      1,600+/- SF commercial garage with office space for lease.
      688A Derby Ave, Seymour, CT 06483
      View Details
    • Contact for pricing
      7,170 SF

      Seymour Industrial Space For Lease

      7,170 SF Warehouse/Flex Space in CT
      100 Main St, Seymour, CT 06483
      View Details
    • New
      $14 SF/Yr
      53,663 SF

      Versatile Commercial Building in Seymour

      18-unit commercial building for rent in Seymour, Connecticut.
      10-18 Beach St, Seymour, CT 06483
      View Details
    • $1,000 /Mo
      3,900 SF

      Prime Bank Street Commercial Space

      Street-level commercial space suitable for office or retail use.
      76 Bank St, Seymour, CT 06483
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16 Progress Ave
    Seymour, CT 06483-3921
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!