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    2 Summit Pl Branford, CT 06405

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    2 Summit Pl Branford, CT 06405

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    • Showrooms
    • 11,582 SF
    • 0.77 lot acres
    For Lease
    $21 SF/Yr
    View Listing →
    Medical/Office Space For Lease For Lease
    $21 SF/Yr
    960 SF

    Medical/Office Space For Lease

    960± SF medical/office space available in Branford, CT.

    Summit Pl 2, Branford, CT
    View Listing
    Property ID
    US15-0063403
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • O,R&L Commercial Real Estate Brokerage and Integrated Solutions / Real Estate Agency
    • Owens Realty Services / Real Estate Agency
    • O,R&L Construction / Construction Company
    • Summit Services Llc / Financial Advisor

    Property Details for 2 Summit Pl

    Year built
    1986
    Construction
    FRAME
    Lot size
    0.77 lot acres
    Property size
    11,582 SF
    Property type
    Showrooms
    APN
    BRAN M:B07-B08 B:002 L:00013
    APU
    BRANMB07B08B002L00013

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,045,000
      Market price range: $554k - $1.50M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,765,000
      Current use
      RESTAURANT
      $1,695,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Branford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8486
    Latitude
    41.2794
    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
    $31,573
    $390,100
    $666,200
    $1,056,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      33,616 SF

      978 Main St, Unit 1004

      SHOW ROOM, WAREHOUSE • 33,616 SF
      978 Main St, Branford, CT 06405-3730
      View Details
    • Value Estimation
      $7,725,000
      94,311 SF

      80 Cedar St

      SHOW ROOM, WAREHOUSE • 94,311 SF
      80 Cedar St, Branford, CT 06405-3658
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    • Value Estimation
      $6,750,000
      124,472 SF

      120 Commercial Pkwy

      SHOW ROOM, WAREHOUSE • 124,472 SF
      120 Commercial Pkwy, Branford, CT 06405-2537
      View Details
    • Value Estimation
      $1,320,000
      12,824 SF

      471 Main St

      SHOW ROOM, WAREHOUSE • 12,824 SF
      471 Main St, Branford, CT 06405-2961
      View Details
    • Value Estimation by Request
      1,845 SF

      17 Main St

      SHOW ROOM, WAREHOUSE • 1,845 SF
      17 Main St, Branford, CT 06405
      View Details
    • Value Estimation by Request
      2,245 SF

      6 Main St

      SHOW ROOM, WAREHOUSE • 2,245 SF
      6 Main St, Branford, CT 06405-3022
      View Details

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      Branford Retail Investment Opportunity

      Fully leased retail property with long-term tenants and income growth.
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      10,000 SF

      Retail Property on Main Street

      Retail property available for sale on Main Street.
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    Similar Nearby for Lease

    • Contact for pricing
      21,000 SF

      Route 1 Flex Warehouse Space

      Flexible showroom, retail, and warehouse space near I-95.
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      View Details
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      1,300 SF

      Branford Retail Space For Rent

      Retail space with parking and wash bay in Branford, CT.
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      1,290 SF

      Retail Space in Active Center

      Retail space available in active neighborhood shopping center.
      4 Brushy Plain Rd, Branford, CT 06405
      View Details
    • $4,500 /Mo
      2,720 SF

      Branford Retail/Restaurant Space Available

      Prime downtown Branford location suitable for retail or restaurant use.
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      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Neighborhood Center

      Retail space available in neighborhood retail center.
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      View Details
    • Contact for pricing

      Downtown Branford Retail Space Available

      Prime location with high traffic and planned improvements.
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      View Details
    View Listing
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    2 Summit Pl
    Branford, CT 06405
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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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