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    281 Hartford Tpke Vernon Rockville, CT 06066
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    Property profile & analytics

    281 Hartford Tpke Vernon Rockville, CT 06066

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    • Office buildings
    • 43,442 SF
    • 2.29 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Professional Office Suites For Rent For Lease
    $18 SF/Yr
    900 SF

    Professional Office Suites For Rent

    Multiple office suites available in a highly visible location.

    281 Hartford Tpke, Vernon Rockville, CT
    View Listing
    Property ID
    US15-1294463
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ashkan Samadzadeh / Dental Office
    • Arman Samad-Zadeh / Dental Office
    • Dr. Mark Melnick / Dental Office
    • CT Family Care LLC / Physician
    • Bykoff Gary MD / Physician

    Property Details for 281 Hartford Tpke

    Year built
    1970
    Construction
    STEEL FRAME
    Lot size
    2.29 lot acres
    Property size
    43,442 SF
    Zone code
    COMMER
    Property type
    Office buildings
    APN
    VERN M:02 B:0011 L:00013
    APU
    VERNM02B0011L00013

    Description

    The Vernon Professional Building, located at 281 Hartford Turnpike in Vernon, Connecticut (zip code 06066), offers a variety of executive office suites for lease. This Class B building, constructed in 1970, comprises 43,442 square feet across five stories and sits on a 2.29-acre lot. The building features ample parking with 200 spaces available. Individual suites range from a minimum of 325 square feet to a maximum contiguous space of 3,019 square feet, with 6,969 square feet currently vacant. The building is zoned for commercial use and boasts a convenient location with excellent access to Routes 30 and 83, as well as Interstate 84. This highly visible location places businesses in the heart of Vernon's largest commercial area, providing easy access to numerous amenities. Each suite offers a 9-foot ceiling height and the building is equipped with elevators. The building's electrical service is 100 amps. This property presents a fantastic opportunity for businesses seeking versatile and well-located office space in Tolland County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,123,000
      Market price range: $3.06M - $6.31M
      AI Estimate
      $2,947,000
      Market price range: $1.72M - $6.07M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,630,000
      Current use
      COMMERCIAL (GENERAL)
      $4,590,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4933
    Latitude
    41.8269
    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
    $77,283
    $320,600
    $1,993,950
    $2,314,550
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
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      139 Un St

      OFFICE BUILDING • 3,048 SF
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      145 Un St

      OFFICE BUILDING • 2,495 SF
      145 Un St, Vernon, CT 06066-3025
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    • Value Estimation by Request
      0.83 Acres

      26 Un St

      OFFICE BUILDING • 0.83 Acres
      26 Un St, Vernon, CT 06066-3161
      View Details
    • Value Estimation by Request
      1,808 SF

      39 Windsor Ave

      OFFICE BUILDING • 1,808 SF
      39 Windsor Ave, Vernon, CT 06066-2427
      View Details
    • Value Estimation by Request
      19,090 SF

      4 Park St

      OFFICE BUILDING • 19,090 SF
      4 Park St, Vernon, CT 06066-3212
      View Details

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      Vernon Office/Retail Condo For Sale

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      Vernon Rockville Office Condos For Sale

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    • $385,000
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      Industrial Building with Office Space

      2,750 SF industrial building with 200 SF office space.
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    • $400,000
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      Versatile Commercial Property in Vernon

      Adaptable commercial space suitable for warehousing, retail, or service ventures.
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    Similar Nearby for Lease

    • Contact for pricing
      1,700 SF

      Vernon Rockville Office/Medical Space

      1,700 SF office/medical space for lease, bus line access.
      520 Hartford Tpke, Vernon Rockville, CT 06066
      View Details
    • $16 SF/Yr
      1,917 SF

      Vernon Office/Retail Space For Rent

      1,917 sq ft office/retail space with highway access.
      62 Hyde Ave, Vernon, CT 06066
      View Details
    • $16 SF/Yr

      Vernon Office/Retail Space Available

      1,917 sq ft office/retail space with highway access.
      62 Hyde Ave, Vernon, CT 06066
      View Details
    • $275 SF/Yr
      100 SF

      Professional Single-Person Office Suites Available

      Executive suites for rent, ideal for single employee businesses.
      27 Hartford Tpke, Vernon, CT 06066
      View Details
    • $1,500 /Mo
      1,200 SF

      Commercial Unit on High-Traffic Corner

      Versatile 1200 sqft commercial unit in high-traffic area.
      903 Hartford Tpke, Vernon, CT 06066
      View Details
    View Listing
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    Vernon Rockville, CT 06066
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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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    281 Hartford Tpke, Vernon Rockville, CT, 06066
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