Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    32 Portland Ave Redding, CT 06896-3113

    • Office buildings
    • 5,258 SF
    • 0.87 lot acres
    OFF-MARKET
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0887197
    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

    • Office buildings

    Property Details for 32 Portland Ave

    Year built
    1940
    Construction
    FRAME
    Lot size
    0.87 lot acres
    Property size
    5,258 SF
    Zone code
    BC
    Property type
    Office buildings
    APN
    REDD M:46 L:13
    APU
    REDDM46L13

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $621,000
      Market price range: $525k - $1.35M
      AI Estimate
      $551,000
      Market price range: $344k - $1.26M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $915,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $835,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Redding
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.429
    Latitude
    41.261
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, 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
    $11,721
    $231,000
    $192,300
    $423,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,071 SF

      3 Main St

      OFFICE BUILDING • 1,071 SF
      3 Main St, Redding, CT 06896
      View Details
    • Value Estimation
      $785,000
      4,858 SF

      4 Old Ml Rd

      OFFICE BUILDING • 4,858 SF
      4 Old Ml Rd, Redding, CT 06896-3204
      View Details
    • Value Estimation by Request
      1,008 SF

      73 Redding Rd, Unit 8

      CONDOMINIUM OFFICES • 1,008 SF
      73 Redding Rd, Redding, CT 06896-3210
      View Details
    • Value Estimation by Request
      4,452 SF

      9 Brookside Rd, Unit D

      CONDOMINIUM OFFICES • 4,452 SF
      9 Brookside Rd, Redding, CT 06896
      View Details
    • Value Estimation by Request
      2,626 SF

      9 Brookside Rd, Unit B1

      CONDOMINIUM OFFICES • 2,626 SF
      9 Brookside Rd, Redding, CT 06896
      View Details
    • Value Estimation by Request
      1,596 SF

      73 Redding Rd, Unit 7

      CONDOMINIUM OFFICES • 1,596 SF
      73 Redding Rd, Redding, CT 06896-3210
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,452 SF

      Redding Office Space For Sale

      Office space with highway access, ample parking, and high ceilings.
      9 Brookside Rd, Redding, CT 06896
      View Details
    • Contact for pricing
      13,286 SF

      Flex Building on Large Lot

      13,286 SF flex building on 14.5 acres for sale.
      193 Long Ridge Rd, Redding, CT 06896
      View Details
    • $1,799,000

      Redding Specialty Property For Sale

      Specialty property available for purchase in Redding, Connecticut.
      32 Beeholm Rd, Redding, CT 06896
      View Details
    • $5,995,000
      17,548 SF

      Luxury Redding Estate: 19 Acres

      Normandy Chateau, 17,548 sq ft, scenic lake views.
      241 Black Rock Tpke, Redding, CT 06896
      View Details
    • $940,000

      Specialty Property For Sale

      Specialty property available for purchase.
      7 Guardhouse Dr, Redding, CT 06896
      View Details
    • $1,599,000

      Peaceable Street Specialty Property

      Specialty property available for sale on Peaceable Street.
      33 Peaceable St, Redding, CT 06896
      View Details

    Similar Nearby for Lease

    • $600 /Mo
      600 SF

      Georgetown Flex Space For Rent

      Flex space with garage and parking in Georgetown.
      96 Portland Ave, Redding, CT 06896
      View Details
    • $2,500 /Mo

      Georgetown Apartment with Optional Garage

      Two-bedroom apartment in Georgetown with optional garage and storage.
      96 Portland Ave, Redding, CT 06896
      View Details
    • Contact for pricing
      1,578 SF

      Georgetown Retail/Fitness Space with Cafe

      Unique retail space with cafe in Georgetown business district.
      4 Old Mill Rd, Redding, CT 06896
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    32 Portland Ave
    Redding, CT 06896-3113
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!