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

    161 Johnson Ave Cheshire, CT 06410-1209

    • Manufacturing properties
    • 8,760 SF
    • 7.70 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2023
    $825,000
    Value Estimations
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0967551
    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

    • Lou-Jan Tool & Die Co / Machine Shop

    Property Details for 161 Johnson Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.70 lot acres
    Property size
    8,760 SF
    Zone code
    I-2
    Property type
    Manufacturing properties
    APN
    CHES M:11 B:28 L:
    APU
    CHESM11B28L

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $820,000
      ML approach
      $800,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $589,000
      Market price range: $380k - $904k
      AI Estimate
      $806,000
      Market price range: $245k - $1.63M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $620,000
      Current use
      RESTAURANT
      $1,280,000
      Change: +107% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $985,000
      Change: +59% Conversion: Difficult
      OFFICE BUILDING
      $975,000
      Change: +57% Conversion: Difficult
      RETAIL STORES
      $950,000
      Change: +53% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $915,000
      Change: +48% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $795,000
      Change: +28% Conversion: Easy
      WAREHOUSE, STORAGE
      $515,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheshire
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8859
    Latitude
    41.5504
    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
    $14,714
    $234,060
    $185,250
    $419,310
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      33,014 SF

      30 Knotter Dr

      MANUFACTURING (LIGHT) • 33,014 SF
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      View Details
    • Value Estimation by Request
      135,470 SF

      154 Knotter Dr

      Manufacturing properties • 135,470 SF
      154 Knotter Dr, Cheshire, CT 06410
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    • Value Estimation
      $1,235,000
      12,118 SF

      30 Diana Ct

      MANUFACTURING (LIGHT) • 12,118 SF
      30 Diana Ct, Cheshire, CT 06410-1206
      View Details
    • Value Estimation
      $1,545,000
      32,557 SF

      1187 Highland Ave

      MANUFACTURING (LIGHT) • 32,557 SF
      1187 Highland Ave, Cheshire, CT 06410-1651
      View Details
    • Value Estimation
      $985,000
      88,238 SF

      751 Higgins Rd

      MANUFACTURING (LIGHT) • 88,238 SF
      751 Higgins Rd, Cheshire, CT 06410-3330
      View Details
    • Value Estimation
      $430,000
      16,031 SF

      286 Industrial Ave

      MANUFACTURING (LIGHT) • 16,031 SF
      286 Industrial Ave, Cheshire, CT 06410-1770
      View Details

    Similar Nearby for Sale

    • $1,750,000
      18.55 Acres

      Cheshire, CT Commercial Land

      18.55 Acres, I-2 Zoning, Approved Plans
      1300 Highland Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing
      34,216 SF

      Industrial Portfolio For Sale

      Three industrial properties available for sale individually or as a portfolio.
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      View Details
    • $1,500,000
      9,848 SF

      Industrial/Flex Facility with High-End Finishes

      Well-maintained industrial/flex facility with modern office space and ample parking.
      1492 Highland Ave, Cheshire, CT 06410
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    • $699,000

      Moss Farms Specialty Property

      Specialty property available for sale.
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    • $510,000

      Specialty Property For Sale

      Specialty property available for purchase.
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    • $675,000

      Harrison Road Specialty Property

      Specialty property available for sale on Harrison Road.
      118 Harrison Rd, Cheshire, CT 06410
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    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Renovated High-Tech Manufacturing Facility

      174,000 SF renovated manufacturing facility with expansion potential.
      350 Knotter Dr, Cheshire, CT 06410
      View Details
    • $6 SF/Yr
      135,470 SF

      Cheshire, CT Industrial Flex Space

      135,470 SF Industrial Building, 40,000 SF Available
      154 Knotter Dr, Cheshire, CT 06410
      View Details
    • $6 SF/Yr
      23,586 SF

      Industrial Flex Space For Lease

      135,470 SF industrial flex space with expansion potential.
      150-156 Knotter Dr, Cheshire, CT 06410
      View Details
    • $14 SF/Yr
      3,667 SF

      Cheshire Warehouse Condo with Office

      Commercial warehouse condo with office space and drive-in door.
      1486 Highland Ave, Cheshire, CT 06410
      View Details
    • $9 SF/Yr
      320,000 SF

      Cheshire Industrial Facility Available

      320,000 SF industrial facility with excellent highway access.
      475 Knotter Dr, Cheshire, CT 06410
      View Details
    • $9 SF/Yr
      2,392 SF

      Prime Cheshire Location, Suites Available

      Centrally located property with high accessibility and ample parking.
      286 Maple Ave, Cheshire, CT 06410
      View Details
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    161 Johnson Ave
    Cheshire, CT 06410-1209
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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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