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

    274 Riverside Dr Thompson, CT 06277-2710

    • Commercial real estate
    • 3,772 SF
    • 1.93 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0113197
    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

    • Tee Rex Mini Golf / Miniature Golf Course

    Property Details for 274 Riverside Dr

    Year built
    1994
    Construction
    WOOD FRAME
    Lot size
    1.93 lot acres
    Property size
    3,772 SF
    Zone code
    COMM
    Property type
    Commercial real estate
    APN
    THOM M:87 B:95 L:39
    APU
    THOMM87B95L39

    Description

    This exceptional 5,200-square-foot retail space, located at 274 Riverside Drive in Thompson, Connecticut, presents a unique investment opportunity. Built in 2023, this single-tenant property boasts a spacious layout divided equally between two floors, each offering 2,600 square feet of adaptable space. The unit is a blank canvas, perfect for customizing to your specific business needs. The property benefits from ample paved parking conveniently situated next to a bustling mini-golf and entertainment venue, ensuring high visibility and foot traffic. With a daily traffic count exceeding 18,000 vehicles, this location offers significant exposure to potential customers. The building is equipped with hot air/electric heating, central air conditioning, and a private well. Electric and cable services are readily available. This property is specifically approved for cannabis retail, presenting a lucrative opportunity in a growing market. The address is 274 Riverside Drive, Thompson, CT 06277. This is a two-story building. Don't miss this chance to establish your business in a vibrant and high-traffic location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $236,000
      Market price range: $208k - $507k
      AI Estimate
      $216,000
      Market price range: $172k - $457k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $340,000
      Current use
      RETAIL STORES
      $380,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Thompson
    County
    Windham
    State
    Connecticut
    Longitude
    -71.8881
    Latitude
    41.9487
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-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
    $3,895
    $91,200
    $58,600
    $149,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $280,000
      0.45 Acres

      720 Quinebaug Rd

      COMMERCIAL (GENERAL) • 0.45 Acres
      720 Quinebaug Rd, Thompson, CT 06277
      View Details
    • Value Estimation
      $220,000
      3,420 SF

      461 Quaddick Rd

      SHOW ROOM, WAREHOUSE • 3,420 SF
      461 Quaddick Rd, Thompson, CT 06277
      View Details
    • Value Estimation
      $270,000
      3.80 Acres

      Old Tpke Rd

      COMMERCIAL (GENERAL) • 3.80 Acres
      Old Tpke Rd, Thompson, CT 06277
      View Details
    • Value Estimation
      $225,000
      2,471 SF

      64 Chase Rd

      SHOW ROOM, WAREHOUSE • 2,471 SF
      64 Chase Rd, Thompson, CT 06277-2853
      View Details
    • Value Estimation
      $305,000
      1.11 Acres

      56 Riverside Dr

      SHOW ROOM, WAREHOUSE • 1.11 Acres
      56 Riverside Dr, Thompson, CT 06277-2709
      View Details
    • Value Estimation
      $275,000
      5,000 SF

      753 Thompson Rd

      SHOW ROOM, WAREHOUSE • 5,000 SF
      753 Thompson Rd, Thompson, CT 06277-1939
      View Details

    Similar Nearby for Sale

    • $500,000

      Thriving CT Catering Business

      Established Catering Company, Equipment Included
      139 Riverside Dr Thompson Ct, Thompson, CT 06277
      View Details
    • $125,000
      8.61 Acres

      Thompson, CT Residential Land Parcel

      Large 8.61 acre residential land parcel in Thompson, CT.
      Wilsonville Rd, Thompson, CT 06277
      View Details
    • $499,900

      Thompson Specialty Property For Sale

      Specialty property available for purchase in Thompson, Connecticut.
      17 Liberty Ln, Thompson, CT 06277
      View Details
    • $1,295,000
      12.80 Acres

      Approved Land for Multi-Family Units

      Approved land for 60 multi-family units in Thompson, CT.
      99 Azud Rd, Thompson, CT 06277
      View Details
    • $599,900

      Thompson Road Specialty Property

      Specialty property available for sale on Thompson Road.
      369 Thompson Rd, Thompson, CT 06277
      View Details
    • $110,000
      5.92 Acres

      Residential Land Near Golf Course

      Secluded residential land near a golf course in Thompson, CT.
      Thompson Rd, Thompson, CT 06277
      View Details
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    274 Riverside Dr
    Thompson, CT 06277-2710
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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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