Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    224 Main St Bristol, CT 06010-4969

    • Retail properties
    • 6,224 SF
    • 0.68 lot acres
    OFF-MARKET
    Last Sale
    May 15, 2025
    $500,000
    Value Estimations
    $455,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0449163
    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

    • Parkside Cafe / Restaurant / Breakfast Restaurant
    • Foodies / Italian Restaurant

    Property Details for 224 Main St

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.68 lot acres
    Property size
    6,224 SF
    Zone code
    BD-1
    Property type
    Retail properties
    APN
    BRIS M:26 L:4A-1
    APU
    BRISM26L4A1

    Description

    This exceptional value-add opportunity presents a 6,224 square foot restaurant located at 224 N Main St, Bristol, CT 06010. The property boasts a 6.69% cap rate with a projected pro-forma cap rate of 12.53% and a strong NOI of $53,200, projected to increase to $99,584. Currently 100% occupied by Parkside Café under a NNN lease commencing August 1, 2021, with negotiable lease options including a potential extension and rent increase in 2026. The building, renovated in 2021, sits on a 0.68-acre lot with 30 parking spaces and is zoned BD-1. Its prime location benefits from nearby developments like the Centre Square Village (104 units opening Fall 2024) and Wheeler Health facilities, promising future growth and increased property value. The asking price is $795,000, representing a price per square foot of $127.73. This single-tenant investment offers significant upside potential in a thriving Connecticut market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $445,000
      ML approach
      $460,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $640,000
      Market price range: $402k - $1.07M
      AI Estimate
      $610,000
      Market price range: $377k - $1.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.9465
    Latitude
    41.6767
    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
    $15,275
    $112,070
    $391,230
    $503,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      53,234 SF

      121 Farmington Ave

      Shopping centers • 53,234 SF
      121 Farmington Ave, Bristol, CT 06010
      View Details
    • Value Estimation
      $710,000
      22,424 SF

      486 Farmington Ave

      DEPARTMENT STORE • 22,424 SF
      486 Farmington Ave, Bristol, CT 06010
      View Details
    • Value Estimation
      $485,000
      12,132 SF

      839 Farmington Ave

      DEPARTMENT STORE • 12,132 SF
      839 Farmington Ave, Bristol, CT 06010-3922
      View Details
    • Value Estimation
      $410,000
      8,760 SF

      384 Farmington Ave

      DEPARTMENT STORE • 8,760 SF
      384 Farmington Ave, Bristol, CT 06010-3906
      View Details
    • Value Estimation
      $265,000
      1,564 SF

      129 Pne St

      DEPARTMENT STORE • 1,564 SF
      129 Pne St, Bristol, CT 06010-6953
      View Details
    • Value Estimation
      $300,000
      4,095 SF

      790 Farmington Ave

      DEPARTMENT STORE • 4,095 SF
      790 Farmington Ave, Bristol, CT 06010-3920
      View Details

    Similar Nearby for Sale

    • $299,900
      Pending

      Mixed-Use Property in Bristol, CT

      Versatile investment opportunity with residential and commercial potential in Bristol.
      143 Divinity St, Bristol, CT 06010
      View Details
    • $595,000

      Versatile Commercial Property on Central

      Commercial property suitable for retail, office, or flex operations.
      150 Central St, Bristol, CT 06010
      View Details
    • New
      $400,000
      2,212 SF

      Bristol Multi-Family Development Opportunity

      Six-bedroom home with potential for mixed-use development in Bristol, CT.
      93 South St, Bristol, CT 06010
      View Details
    • $1,589,330
      3,025 SF

      Retail Property on Farmington Avenue

      Retail property with long-term tenant and corporate guarantee.
      1128 Farmington Ave, Bristol, CT 06010
      View Details
    • $125,000

      Established Auto Repair Business

      Well-equipped auto shop with lifts and equipment for sale.
      548 Middle St, Bristol, CT 06010
      View Details
    • New
      $569,900
      Pending

      Bristol Commercial Building on Farmington

      4095 SF commercial building suitable for retail, office, or restaurant.
      790 Farmington Ave, Bristol, CT 06010
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      264,000 SF

      Bristol Plaza Retail Center

      High-traffic shopping center, prime location.
      641 Farmington Ave, Bristol, CT 06010
      View Details
    • $1,500 /Mo
      2,449 SF

      Downtown Retail Space For Rent

      Retail space in high-traffic downtown area with potential.
      1 Divinity St, Bristol, CT 06010
      View Details
    • Contact for pricing
      3,829 SF

      Bristol Plaza Retail Space Available

      Retail space for lease in Bristol Plaza Shopping Center.
      594 Farmington Ave, Bristol, CT 06010
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Bristol Plaza

      Retail space available in a busy shopping center.
      99 Farmington Ave, Bristol, CT 06010
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space Near Lake Compounce

      Retail space with high visibility near Lake Compounce.
      289 Enterprise Dr, Bristol, CT 06010
      View Details
    • Contact for pricing
      29,018 SF

      Bristol Plaza Retail Space Available

      Retail space for lease in Bristol Plaza Shopping Center.
      683-685 Farmington Ave, Bristol, CT 06010
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    224 Main St
    Bristol, CT 06010-4969
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.