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    Property profile & analytics

    181 Main St, Unit 189 Wethersfield, CT 06109-2339

    • Turn key restaurants
    • 3,140 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    May 08, 2024
    $258,482
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0849776
    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

    • Luna Pizza - Wethersfield / Restaurant

    Property Details for 181 Main St

    Year built
    1905
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.26 lot acres
    Property size
    3,140 SF
    Zone code
    VB
    Property type
    Turn key restaurants
    APN
    WETH M:247 B:010
    APU
    WETHM247B010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wethersfield
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6535
    Latitude
    41.7113
    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
    $10,236
    $141,750
    $103,250
    $245,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $765,000
      5,452 SF

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      RESTAURANT • 5,452 SF
      1298 Silas Deane Hwy, Wethersfield, CT 06109-4303
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    • Value Estimation
      $1,385,000
      8,383 SF

      1324 Silas Deane Hwy

      RESTAURANT • 8,383 SF
      1324 Silas Deane Hwy, Wethersfield, CT 06109-4344
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    • Value Estimation by Request
      1,244 SF

      338 Silas Deane Hwy

      RESTAURANT • 1,244 SF
      338 Silas Deane Hwy, Wethersfield, CT 06109-1735
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    • Value Estimation by Request
      1,875 SF

      416 Silas Deane Hwy

      RESTAURANT • 1,875 SF
      416 Silas Deane Hwy, Wethersfield, CT 06109-2104
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    • Value Estimation by Request
      4,440 SF

      1030 Silas Deane Hwy

      RESTAURANT • 4,440 SF
      1030 Silas Deane Hwy, Wethersfield, CT 06109-4231
      View Details
    • Value Estimation by Request
      1,848 SF

      718 Silas Deane Hwy

      RESTAURANT • 1,848 SF
      718 Silas Deane Hwy, Wethersfield, CT 06109-3027
      View Details

    Similar Nearby for Sale

    • $249,900
      825 SF

      Established Restaurant Business Opportunity

      Turnkey restaurant in Old Wethersfield with strong local customer base.
      285 Main St, Wethersfield, CT 06109
      View Details
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      Retail Property For Sale

      Retail property available for purchase in Wethersfield, Connecticut.
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      14,000 SF

      Retail Development Opportunity Near I-91

      Retail development opportunity off I-91 for ground lease or build-to-suit.
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      Wethersfield Land For Sale

      1.89 acres of land suitable for mixed-use development.
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    • $2,190,000
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      Wethersfield Commercial Office Building For Sale

      Well-maintained office building on Silas Deane Highway in Wethersfield.
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    • New
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      2,893 SF

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      Two-family home in historic Wethersfield with income potential.
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    Similar Nearby for Lease

    • $4,000 /Mo
      1,800 SF

      Wethersfield Retail Space For Rent

      Prime retail space suitable for various businesses, high-traffic location.
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      Wethersfield Retail Space Available

      Retail space available for rent in Wethersfield, Connecticut.
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      2,630 SF

      Retail Space on Silas Deane

      Retail space available for lease on Silas Deane Highway.
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      Retail Space Available For Lease

      Retail spaces for lease in Wethersfield, CT.
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      Retail Space in Jordan Lane

      Daily needs shopping center anchored by Stop & Shop.
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    • Contact for pricing
      9,500 SF

      Renovated Retail and Flex Space

      Renovated retail/flex space with high visibility and easy highway access.
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      View Details
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    Wethersfield, CT 06109-2339
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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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