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    Property profile & analytics

    2799 Main St Glastonbury, CT 06033-2022

    • Showrooms
    • 3,600 SF
    • 0.48 lot acres
    OFF-MARKET
    Last Sale
    Feb 29, 2024
    $775,000
    Value Estimations
    $775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1041362
    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

    • Oxford Cleaners / (Bike/Boat/Book/etc) Store

    Property Details for 2799 Main St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.48 lot acres
    Property size
    3,600 SF
    Zone code
    F
    Property type
    Showrooms
    APN
    GLAS M:C5 B:4140 L:W0028A
    APU
    GLASMC5B4140LW0028A

    Description

    This exceptional 3,600 square foot retail or restaurant space at 2799 Main Street in Glastonbury, Connecticut, presents a unique opportunity. Situated on a half-acre lot (0.5 acres), this single-tenant property offers significant redevelopment potential for discerning investors or businesses. The existing Class B building, constructed in 1970, is currently vacant and comprises a single-story structure. The property boasts a highly desirable Main Street location in Glastonbury, benefiting from exceptional visibility and high traffic counts exceeding 16,000 vehicles daily. This translates to significant exposure for any business occupying or redeveloping the site. The entire 3,600 square feet is available, providing ample space for a variety of uses, from a flagship retail store to a unique restaurant concept. The 0.5-acre lot allows for flexibility in design and expansion, making it an ideal canvas for a modern and impactful development. The property's location in Glastonbury, CT, zip code 06033, offers access to a thriving community and strong local demographics. This is a rare chance to acquire a prime commercial property with substantial redevelopment potential in a high-traffic area. Don't miss this opportunity to secure a prominent location on Main Street.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $775,000
      ML approach
      $775,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $619,000
      Market price range: $329k - $758k

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

    Location Insight

    • Map
    • Local Demand
    City
    Glastonbury
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6142
    Latitude
    41.7188
    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
    2024
    $16,680
    $378,600
    $143,800
    $522,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $900,000
      6,415 SF

      3025 Main St

      SHOW ROOM, WAREHOUSE • 6,415 SF
      3025 Main St, Glastonbury, CT 06033-1029
      View Details
    • Value Estimation
      $3,020,000
      16,145 SF

      704 Hebron Ave

      SHOW ROOM, WAREHOUSE • 16,145 SF
      704 Hebron Ave, Glastonbury, CT 06033-5020
      View Details
    • Value Estimation
      $2,285,000
      20,585 SF

      400 Hebron Ave

      SHOW ROOM, WAREHOUSE • 20,585 SF
      400 Hebron Ave, Glastonbury, CT 06033-2177
      View Details
    • Value Estimation
      $8,510,000
      105,294 SF

      65 Glastonbury Blvd

      SHOW ROOM, WAREHOUSE • 105,294 SF
      65 Glastonbury Blvd, Glastonbury, CT 06033-4401
      View Details
    • Value Estimation
      $905,000
      8,674 SF

      41 Hebron Ave

      SHOW ROOM, WAREHOUSE • 8,674 SF
      41 Hebron Ave, Glastonbury, CT 06033-4252
      View Details
    • Value Estimation
      $3,360,000
      52,586 SF

      622 Hebron Ave

      SHOW ROOM, WAREHOUSE • 52,586 SF
      622 Hebron Ave, Glastonbury, CT 06033-2421
      View Details

    Similar Nearby for Sale

    • $1,050,000
      3,000 SF

      Retail Property Near Route 2

      Two-tenant retail property with bakery and Chinese takeout.
      217 Hebron Ave, Glastonbury, CT 06033
      View Details
    • $550,000
      5,738 SF

      Glastonbury Commercial Building - High Traffic!

      Income-producing property, prime location.
      225-229 Hebron Ave, Glastonbury, CT 06033
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      70 Nutmeg Ln, Glastonbury, CT 06033
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      603 SF

      Retail Space Near Whole Foods

      Retail space available near affluent area and Class A offices.
      13-55 Welles St, Glastonbury, CT 06033
      View Details
    • $26 SF/Yr
      890 SF

      Retail Space in Town Center

      Retail spaces available in prime Town Center location.
      30 Welles St, Glastonbury, CT 06033
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    • Contact for pricing
      5,000 SF

      Retail and Restaurant Space Available

      Outdoor town square with regional and national stores and restaurants.
      140 Glastonbury Blvd, Glastonbury, CT 06033
      View Details
    • $32 SF/Yr
      1,543 SF

      Retail Space in Glastonbury Center

      Retail property for lease with immediate highway access.
      119 Hebron Ave, Glastonbury, CT 06033
      View Details
    • $20 SF/Yr
      1,100 SF

      Glastonbury Retail/Office Space Available

      Multiple retail/office spaces for rent in Glastonbury, CT.
      2450 Main St, Glastonbury, CT 06033
      View Details
    • Contact for pricing
      4,500 SF

      Glastonbury Restaurant Sublease Opportunity

      Large Restaurant Space - No Kitchen. Prime Location.
      0 Main St, Glastonbury, CT 06033
      View Details
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    Glastonbury, CT 06033-2022
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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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