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

    32 Gramar Ave Prospect, CT 06712-1016

    • Manufacturing properties
    • 90,760 SF
    • 13.53 lot acres
    OFF-MARKET
    Last Sale
    Jan 18, 2024
    $2,350,000
    Value Estimations
    $2,480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0354719
    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

    • Polar Industries / Manufacturer
    • Foam Plastics-New England Inc / Plastic Fabrication Company

    Property Details for 32 Gramar Ave

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    13.53 lot acres
    Property size
    90,760 SF
    Zone code
    IND-1
    Property type
    Manufacturing properties
    APN
    PROS M:105 B:58 L:32
    APU
    PROSM105B58L32

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,350,000
      ML approach
      $2,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,866,000
      Market price range: $2.15M - $5.10M
      AI Estimate
      $2,230,000
      Market price range: $1.80M - $4.69M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $3,645,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Prospect
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0013
    Latitude
    41.5023
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, 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
    $72,158
    $244,480
    $2,000,620
    $2,245,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $325,000
      3,781 SF

      11 Industrial Rd

      MANUFACTURING (LIGHT) • 3,781 SF
      11 Industrial Rd, Prospect, CT 06712-1039
      View Details
    • Value Estimation
      $360,000
      9,400 SF

      6 Industrial Rd

      MANUFACTURING (LIGHT) • 9,400 SF
      6 Industrial Rd, Prospect, CT 06712-1018
      View Details
    • Value Estimation
      $460,000
      16,923 SF

      10 Industrial Rd

      MANUFACTURING (LIGHT) • 16,923 SF
      10 Industrial Rd, Prospect, CT 06712-1018
      View Details
    • Value Estimation
      $755,000
      25,283 SF

      123 Un City Rd

      MANUFACTURING (LIGHT) • 25,283 SF
      123 Un City Rd, Prospect, CT 06712-1030
      View Details
    • Value Estimation
      $495,000
      10,635 SF

      94 Un City Rd

      MANUFACTURING (LIGHT) • 10,635 SF
      94 Un City Rd, Prospect, CT 06712-1156
      View Details
    • Value Estimation
      $380,000
      10,000 SF

      100 Un City Rd

      MANUFACTURING (LIGHT) • 10,000 SF
      100 Un City Rd, Prospect, CT 06712-1027
      View Details

    Similar Nearby for Sale

    • $690,000
      7,562 SF

      Industrial Space with Showroom

      7,562 SF industrial space featuring a showroom and office.
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      Specialty Property For Sale

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      Commercial Land with Garages

      Commercial land with two buildings and garages on corner lot.
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    • $325,000

      Prospect Specialty Property For Sale

      Specialty property available for purchase in Prospect, Connecticut.
      79 Summit Rd, Prospect, CT 06712
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    • $1,500,000

      Commercial Land in Prospect

      4.83 acres of commercial land with high traffic counts.
      Waterbury Rd, Prospect, CT 06712
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      2,950 SF

      Warehouse Space Near Route 8

      2,950 SF warehouse space, ideal for contractors.
      123 Union City Rd, Prospect, CT 06712
      View Details
    • $9 SF/Yr
      12,104 SF

      Warehouse with Office and Generator

      12,100 SF warehouse with office, loading docks, and generator.
      60 Scott Rd, Prospect, CT 06712
      View Details
    • Contact for pricing
      20,000 SF

      Modern Flex Space, 32 Industrial Road

      New 2024 Flex Units - Immediate Occupancy
      32 Industrial Rd, Prospect, CT 06712
      View Details
    • $22 SF/Yr
      1,214 SF

      Medical Office Space Available

      Medical office suites available in Prospect, Connecticut.
      166 Waterbury Rd, Waterbury, CT 06712
      View Details
    • $2,000 /Mo
      1,583 SF

      Charming Office Space in Prospect

      Professional office space with prime visibility on Waterbury Road.
      31 Waterbury Rd, Prospect, CT 06712
      View Details
    • $2,500 /Mo
      3,000 SF

      Retail/Office Space in Prospect

      Retail or office space available on busy RT 68.
      94 Union City Rd, Prospect, CT 06712
      View Details
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    32 Gramar Ave
    Prospect, CT 06712-1016
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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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