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

    245 Summer St Plantsville, CT 06479-1160

    • Commercial real estate
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0586351
    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

    • Bosse Heating & Air Conditioning LLC. / Air Conditioning Contractor
    • Hair Creations By Toni LLC / Beauty Salon
    • Ragozzino's Deli & Catering / Caterer / Deli
    • Weld-Tec / Welder

    Property Details for 245 Summer St

    Lot size
    0.93 lot acres
    Zone code
    I-1
    Property type
    Commercial real estate
    APN
    SOUT M:087 L:164
    APU
    SOUTM087L164

    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
    Plantsville
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8885
    Latitude
    41.5934
    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
    $11,196
    $62,240
    $306,540
    $368,780
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,410,000
      87,980 SF

      58 Mulberry St

      SHOW ROOM, WAREHOUSE • 87,980 SF
      58 Mulberry St, Plantsville, CT 06479-1704
      View Details
    • Value Estimation by Request
      1.07 Acres

      1143 Meriden Waterbury Tpke

      COMMERCIAL (GENERAL) • 1.07 Acres
      1143 Meriden Waterbury Tpke, Plantsville, CT 06479-2075
      View Details
    • Value Estimation
      $1,250,000
      4,066 SF

      979 Meriden Waterbury Tpke, Unit 1

      COMMERCIAL CONDOMINUIM • 4,066 SF
      979 Meriden Waterbury Tpke, Plantsville, CT 06479-2009
      View Details
    • Value Estimation by Request
      1.29 Acres

      214 Canal St

      COMMERCIAL (GENERAL) • 1.29 Acres
      214 Canal St, Plantsville, CT 06479-1759
      View Details
    • Value Estimation by Request
      16,584 SF

      161 Canal St

      SHOW ROOM, WAREHOUSE • 16,584 SF
      161 Canal St, Plantsville, CT 06479-1734
      View Details
    • Value Estimation by Request
      0.58 Acres

      1201 Main St

      COMMERCIAL (GENERAL) • 0.58 Acres
      1201 Main St, Plantsville, CT 06479-1629
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      19,972 SF

      Industrial Property with Redevelopment Potential

      Industrial property with excellent location and value-add opportunity.
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    • $315,000

      Land For Sale

      Land available for sale.
      9 Whitlock Ave, Plantsville, CT 06479
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    • $300,000

      2.15 Acres Approved Lot

      2.15-acre lot with electric and public water access.
      564 Marion Ave, Plantsville, CT 06479
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      Land with Pond Access

      6.11 acre lot with utilities and pond access.
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    Similar Nearby for Lease

    • $2,550 /Mo

      Winding River Apartments End Unit

      Three-bedroom apartment with hardwood floors, stainless appliances, and garage.
      27 Tridell Dr, Southington, CT 06479
      View Details
    • $2,000 /Mo

      Rosewood Complex Townhouse For Rent

      Spacious 2 bed, 1.5 bath townhouse in Southington.
      456 Atwater St, Plantsville, CT 06479
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    • $450 /Mo
      130 SF

      Functional Office Space with Entrance

      Affordable 130 sq.ft. office space with easy highway access.
      131 Canal St, Plantsville, CT 06479
      View Details
    • $14 SF/Yr
      3,997 SF

      Southington Retail/Office Space Available

      Retail or professional office space for lease in Southington, CT.
      979 Meriden Waterbury Tpke, Southington, CT 06479
      View Details
    • $12 SF/Yr
      28,727 SF

      Southington Industrial Space Available

      Versatile warehouse space, multiple units, I-84 access.
      141 Summer St, Southington, CT 06479
      View Details
    • $8 SF/Yr
      4,350 SF

      Lion Plaza: Meriden Office/Warehouse

      Versatile Flex Space, High Traffic Location
      979 Meriden-Waterbury Tpke, Southington, CT 06479
      View Details
    Request Owner's contact information
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    245 Summer St
    Plantsville, CT 06479-1160
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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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