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    Property profile & analytics

    2 Montowese Ave North Haven, CT 06473-3635

    • Retail space
    • 7,424 SF
    • 0.77 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0415624
    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

    • Sherwin-Williams Paint Store / Painting / Home Improvement Store
    • Sherwin-Williams Spray Source Center / (Bike/Boat/Book/etc) Store

    Property Details for 2 Montowese Ave

    Year built
    1986
    Construction
    FRAME
    Lot size
    0.77 lot acres
    Property size
    7,424 SF
    Zone code
    IL30
    Property type
    Retail space
    APN
    NRHV M:016 L:069
    APU
    NRHVM016L069

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $773,000
      Market price range: $470k - $1.15M
      AI Estimate
      $583,000
      Market price range: $331k - $892k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $805,000
      Current use
      OFFICE BUILDING
      $880,000
      Change: +10% Conversion: Easy
      COMMERCIAL (GENERAL)
      $835,000
      Change: +4% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $775,000
      Change: -4% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $675,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    North Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8662
    Latitude
    41.3502
    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
    $18,134
    $105,840
    $449,570
    $555,410
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,856 SF

      55 Old Broadway E

      RETAIL STORES (PERSONAL SERVICES) • 1,856 SF
      55 Old Broadway E, North Haven, CT 06473-1606
      View Details
    • Value Estimation
      $2,455,000
      7,000 SF

      135 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,000 SF
      135 Washington Ave, North Haven, CT 06473-1710
      View Details
    • Value Estimation
      $625,000
      5,544 SF

      343 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,544 SF
      343 Washington Ave, North Haven, CT 06473-1305
      View Details
    • Value Estimation
      $515,000
      9,800 SF

      342 State St

      RETAIL STORES (PERSONAL SERVICES) • 9,800 SF
      342 State St, North Haven, CT 06473-3100
      View Details
    • Value Estimation
      $790,000
      7,270 SF

      165 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,270 SF
      165 Washington Ave, North Haven, CT 06473-1713
      View Details
    • Value Estimation by Request
      1,200 SF

      101 Washington Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      101 Washington Ave, North Haven, CT 06473-1705
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,947 SF

      Versatile Retail Space in North Haven

      Former garden center suitable for retail, medical, or service businesses.
      66 State St, North Haven, CT 06473
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      3,600 SF

      Retail Space with Parking

      Retail property with high traffic and on-site parking.
      104 Washington Ave, North Haven, CT 06473
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    • $2,199,000
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      North Haven Retail and Motel

      Retail and motel on 1.38 acres near I-91.
      630 Washington Ave, North Haven, CT 06473
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    • $550,000
      2,052 SF

      High Visibility Building on Washington

      2052 sqft building with overhead doors and ample parking.
      157 Washington Ave, North Haven, CT 06473
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    • $1,995,000
      47,975 SF

      North Haven Commercial/Industrial Building

      47,000 SF mixed-use building on 6.8-acre lot.
      118 Quinnipiac Ave, North Haven, CT 06473
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    • Contact for pricing
      12,645 SF

      Retail Property in North Haven

      Retail property available for sale in North Haven, Connecticut.
      356 Washington Ave, North Haven, CT 06473
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      6,768 SF

      Prime Retail Space Available

      High visibility retail space for lease in North Haven.
      55-73 Washington Ave, North Haven, CT 06473
      View Details
    • Contact for pricing
      6,397 SF

      Retail Space in Thriving Market

      Retail space with high visibility and access to I-91.
      410-470 Universal Dr N, North Haven, CT 06473
      View Details
    • Contact for pricing
      14,740 SF

      Retail Space in Mixed-Use Project

      Retail spaces available within a new mixed-use development.
      441-447 Washington Ave, North Haven, CT 06473
      View Details
    • $3,125 /Mo
      3,000 SF

      Retail Space in North Haven

      Commercial space for lease in a prominent retail complex.
      565 Washington Ave, North Haven, CT 06473
      View Details
    • $1,210 /Mo
      765 SF

      Renovated Office/Retail Space Available

      Newly renovated office/retail space with excellent visibility and accessibility.
      500 Washington Ave, North Haven, CT 06473
      View Details
    • $1,600 /Mo
      1,150 SF

      Retail/Office Space in North Haven

      Commercial space for lease in a prominent retail complex.
      565 Washington Ave, North Haven, CT 06473
      View Details
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    2 Montowese Ave
    North Haven, CT 06473-3635
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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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