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

    1615 Meriden Rd Wolcott, CT 06716-3232

    • Showrooms
    • 3,905 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2021
    $245,000
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0679409
    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

    • Thrifty Car Rental - Wolcott Waterbury Hle TLE / Car Rental Agency
    • Dollar Car Rental - Wolcott Waterbury Hle DLE / Car Rental Agency
    • Hertz Car Rental - Wolcott Waterbury HLE / Car Rental Agency

    Property Details for 1615 Meriden Rd

    Year built
    2011
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.39 lot acres
    Property size
    3,905 SF
    Zone code
    GC
    Property type
    Showrooms
    APN
    WOLC M:124B B:2 L:101
    APU
    WOLCM124BB2L101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $205,000
      Market price range: $152k - $471k
      AI Estimate
      $191,000
      Market price range: $152k - $471k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $340,000
      Current use
      AUTO REPAIR, GARAGE
      $355,000
      Change: +4% Conversion: Difficult
      OFFICE BUILDING
      $320,000
      Change: -7% Conversion: Easy
      RETAIL STORES
      $315,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wolcott
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.96
    Latitude
    41.5553
    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
    $5,133
    $64,890
    $96,170
    $161,060
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $260,000
      9,186 SF

      382 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 9,186 SF
      382 Wolcott Rd, Wolcott, CT 06716-2614
      View Details
    • Value Estimation
      $265,000
      2,699 SF

      4 Brookdale St

      SHOW ROOM, WAREHOUSE • 2,699 SF
      4 Brookdale St, Wolcott, CT 06716-1928
      View Details
    • Value Estimation
      $360,000
      5,852 SF

      10 Wakelee Rd

      SHOW ROOM, WAREHOUSE • 5,852 SF
      10 Wakelee Rd, Wolcott, CT 06716-2610
      View Details
    • Value Estimation
      $410,000
      8,769 SF

      250 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 8,769 SF
      250 Wolcott Rd, Wolcott, CT 06716-2634
      View Details
    • Value Estimation
      $435,000
      4,596 SF

      450 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 4,596 SF
      450 Wolcott Rd, Wolcott, CT 06716-2639
      View Details
    • Value Estimation
      $385,000
      4,280 SF

      415 Wolcott Rd

      SHOW ROOM, WAREHOUSE • 4,280 SF
      415 Wolcott Rd, Wolcott, CT 06716-2675
      View Details

    Similar Nearby for Sale

    • $2,250,000
      13,878 SF

      Wolcott Retail Property For Sale

      Retail property in high-traffic area with long-term tenants.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • $899,000
      3,123 SF

      Restaurant Property on 0.86 Acres

      Turnkey restaurant with indoor and outdoor seating on 0.86 acres.
      605 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $485,000
      2,258 SF

      Wolcott Restaurant - $485,000

      Prime Restaurant Space, High Traffic Area
      1387 Meriden Rd, Wolcott, CT 06716
      View Details
    • $525,000
      3,900 SF

      Profitable Restaurant & Bar Business

      Turnkey restaurant and bar with high traffic location and strong reputation.
      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
    • New
      $499,900
      2,382 SF

      Wolcott Commercial Opportunity on Acre

      High-visibility commercial property on heavily traveled thoroughfare, ready for adaptation.
      399 Wolcott Rd, Wolcott, CT 06716
      View Details

    Similar Nearby for Lease

    • $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
    • $12 SF/Yr
      6,000 SF

      Retail and Warehouse Space Available

      Retail and warehouse spaces for lease, separately or together.
      95 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $12 SF/Yr
      1 SF

      Farmingbury Center Retail Space

      Wolcott, CT retail space for lease.
      1585 Meriden Rd, Wolcott, CT 06716
      View Details
    • $1,800 /Mo

      Commercial Unit in Wolcott Center

      2,400 SF commercial unit in busy Wolcott area.
      681 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $8 SF/Yr
      17,344 SF

      Wolcott Warehouse: 17,344 SF

      1-Story Warehouse, 4 Docks, 1 Acre Lot
      31 Tosun Rd, Wolcott, CT 06716
      View Details
    • $2,300 /Mo
      1,700 SF

      Wolcott Road Medical Office Space

      Turn-key medical office space in a busy Wolcott complex.
      464 Wolcott Rd, Wolcott, CT 06716
      View Details

    Property Visit Statistics

    • Visits by month
      1.1k
    • Visitors by month
      1.5k
    • Avg Time on site
      19 min
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    1615 Meriden Rd
    Wolcott, CT 06716-3232
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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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