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    318 Farmington Ave Plainville, CT 06062
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    318 Farmington Ave Plainville, CT 06062

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    • Retail space
    • 2,464 SF
    • 0.34 lot acres
    For Sale
    $399,000
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    Retail Property in Plainville For Sale
    $399,000
    2,464 SF

    Retail Property in Plainville

    Retail property for sale with 2,464 square feet of space.

    318 Farmington Ave, Plainville, CT
    View Listing
    Property ID
    US15-0766817
    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

    • Connecticut Dry Basements / General Contractor

    Property Details for 318 Farmington Ave

    Year built
    1946
    Construction
    FRAME
    Lot size
    0.34 lot acres
    Property size
    2,464 SF
    Zone code
    GC
    Property type
    Retail space
    APN
    PLAI M:07 B:D L:01
    APU
    PLAIM07BDL01

    Description

    This exceptional 2,464-square-foot retail building presents a compelling investment opportunity in Plainville, Connecticut. Situated on a 0.34-acre lot at 318 Farmington Avenue, this single-story, 1946-constructed property boasts a highly desirable location on busy Route 10, providing easy access to I-84 and significant visibility. The property is zoned GC and includes a permitted area for a rear addition, offering potential for expansion. Previously used as an automotive repair shop and convenience store, the building is accompanied by a detached 208-square-foot shed, adding to its versatility. Clean environmental reports are available. The asking price is $450,000, translating to $182.63 per square foot. This prime location benefits from proximity to major retailers and amenities, including AMC Plainville, Lowe's, Goodwill, J Timothy's Taverne, Kohl's, and Marshalls, ensuring high foot traffic and strong potential for various retail ventures. This property offers a unique blend of established infrastructure and expansion potential in a thriving commercial area. The property's address is 318 Farmington Avenue, Plainville, CT 06062.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainville
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8515
    Latitude
    41.6873
    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
    $4,210
    $106,820
    $27,160
    $133,980
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,490,000
      13,999 SF

      5 Farmington Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,999 SF
      5 Farmington Ave, Plainville, CT 06062-1726
      View Details
    • Value Estimation by Request
      3,696 SF

      47 Ee St

      RETAIL STORES (PERSONAL SERVICES) • 3,696 SF
      47 Ee St, Plainville, CT 06062-2308
      View Details
    • Value Estimation by Request
      3,200 SF

      107 New Britain Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      107 New Britain Ave, Plainville, CT 06062-2073
      View Details
    • Value Estimation by Request
      3,345 SF

      111 Whiting St

      RETAIL STORES (PERSONAL SERVICES) • 3,345 SF
      111 Whiting St, Plainville, CT 06062-2842
      View Details
    • Value Estimation
      $5,825,000
      87,451 SF

      200 New Britain Ave

      RETAIL STORES (PERSONAL SERVICES) • 87,451 SF
      200 New Britain Ave, Plainville, CT 06062
      View Details
    • Value Estimation by Request
      475 SF

      30 Main St

      RETAIL STORES (PERSONAL SERVICES) • 475 SF
      30 Main St, Plainville, CT 06062-1904
      View Details

    Similar Nearby for Sale

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      Updated Retail Space in Plainville

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    • $1,650,000
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      Plainville Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial units in Plainville, CT.
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    • $1,650,000
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      Plainville Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial units in Plainville, CT.
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    • $2,750,000
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      Mixed-Use Property in Downtown Plainville

      Mixed-use property with residential and retail units in Plainville.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Plainville, CT

      Retail property available for ground lease or build-to-suit.
      297-305 New Britain Ave, Plainville, CT 06062
      View Details
    • $15 SF/Yr
      2,378 SF

      Plainville Commercial Space Available

      Office and retail spaces available in a high-visibility Plainville plaza.
      17 Farmington Ave, Plainville, CT 06062
      View Details
    • Contact for pricing

      Retail Space For Rent

      Single tenant retail space available, 6,000 SqFt.
      87 Whiting St, Plainville, CT 06062
      View Details
    • Contact for pricing
      3,845 SF

      Retail Space Near I-84

      Retail space available in Plainville, close to I-84.
      14 Farmington Ave, Plainville, CT 06062
      View Details
    • Contact for pricing

      Retail Plaza Space For Lease

      Retail space available in a neighborhood plaza with ample parking.
      58 East St, Plainville, CT 06062
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    • Contact for pricing

      Retail Space in Plainville

      Retail space with easy access to highways in Plainville, CT.
      290 New Britain Ave, Plainville, CT 06062
      View Details
    View Listing
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    Plainville, CT 06062
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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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