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    26 Shunpike Rd Cromwell, CT 06416-2442
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    Property profile & analytics

    26 Shunpike Rd, Cromwell, CT 06416-2442

    View on Map
    • Showrooms
    • 8,768 SF
    • 1.38 lot acres
    Off-Market
    Property ID
    US15-0246831
    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
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dental Arts of Cromwell / Dental Office
    • David Wu DMD / Dental Office
    • Doctors Drouin & Ridolfi / Dental Office
    • Kelly Family Orthodontics / Dental Office
    • Esha Bhardwaj / Physician

    Property Details for 26 Shunpike Rd

    Year built
    1982
    Construction
    FRAME
    Lot size
    1.38 lot acres
    Zone code
    HB
    Property type
    Showrooms
    APN
    CROM M:00424400
    APU
    CROMM00424400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 17, 2018 — Montgomery Dev Group L Shunpike Assoc Warranty Deed $640k · Westfield Bank

    Description

    This exceptional medical office building, located at 26 Shunpike Road in Cromwell, Connecticut, offers a prime opportunity for healthcare professionals seeking flexible and well-appointed space. The single-story building, constructed in 1983 and situated on 1.38 acres of land in Middlesex County, boasts a total of 8,700 square feet. The property is available for lease as multiple tenancies, with a minimum divisible space of 550 square feet and a maximum contiguous space of 1,350 square feet, catering to a variety of practice sizes and needs. Recent renovations have enhanced the building's appeal, and its prominent location ensures high visibility and accessibility. The building benefits from excellent street frontage and boasts prominent monument signage, maximizing exposure to potential patients. This location offers a strong tenant mix and numerous amenities, making it an ideal setting for a thriving medical practice. The property's zip code is 06416. The building's convenient location and modern amenities create an attractive environment for both patients and staff. This is a rare opportunity to secure high-quality medical office space in a desirable and thriving Connecticut community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $835,000
      Market price range: $525k - $1.72M
      AI Estimate
      $705,000
      Market price range: $464k - $1.36M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,060,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $930,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cromwell
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6757
    Latitude
    41.6003
    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
    $21,221
    $433,860
    $287,700
    $721,560
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,840,000
      22,226 SF

      80 Shunpike Rd

      SHOW ROOM, WAREHOUSE
      80 Shunpike Rd, Cromwell, CT 06416-4401
      View Details
    • Value Estimation
      $1,415,000
      11,976 SF

      1 Willowbrook Rd

      SHOW ROOM, WAREHOUSE
      1 Willowbrook Rd, Cromwell, CT 06416-1745
      View Details
    • Value Estimation
      $12,170,000
      80,627 SF

      195 Ww St

      SHOW ROOM, WAREHOUSE
      195 Ww St, Cromwell, CT 06416-1800
      View Details
    • Value Estimation
      $10,175,000
      122,735 SF

      90 Berlin Rd

      SHOW ROOM, WAREHOUSE
      90 Berlin Rd, Cromwell, CT 06416-2603
      View Details
    • Value Estimation by Request
      2,880 SF

      117 Berlin Rd

      SHOW ROOM, WAREHOUSE
      117 Berlin Rd, Cromwell, CT 06416-1022
      View Details
    • Value Estimation
      $2,640,000
      40,584 SF

      121 Berlin Rd

      SHOW ROOM, WAREHOUSE
      121 Berlin Rd, Cromwell, CT 06416-1022
      View Details

    Similar Nearby for Sale

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      Industrial land
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    Similar Nearby for Lease

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      Retail Space with Tesla Charging

      Renovated retail space with high visibility and Tesla Supercharging.
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    Cromwell, CT 06416-2442
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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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