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

    339 Main St New Hartford, CT 06057-2707

    • Industrial properties
    • 5,616 SF
    • 0.60 lot acres
    OFF-MARKET
    Last Sale
    Oct 17, 2024
    $200,000
    Value Estimations
    $215,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0601621
    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

    • Industrial properties

    Property Details for 339 Main St

    Year built
    1880
    Construction
    FRAME
    Lot size
    0.60 lot acres
    Property size
    5,616 SF
    Zone code
    I
    Property type
    Industrial properties
    APN
    NHAR M:44B B:114 L:025
    APU
    NHARM44BB114L025

    Description

    This exceptional property at 339 Main Street, New Hartford, CT 06057, presents a rare investment opportunity. Priced at $199,900, this 5,616 square foot building sits on a 0.60-acre lot and boasts a prime location on Route 44, ensuring high traffic visibility. Built in 1880, the structure offers significant character and potential. Currently cleared and ready for immediate occupancy, the building previously housed three units: two apartments and a commercial space, suggesting diverse redevelopment possibilities. The property features a full, unfinished basement, adding considerable potential square footage. City water and sewer are readily available. The "as-is" sale condition allows for creative vision and customization. This unique blend of history, location, and size makes this a truly exceptional opportunity in the Northwest Hills region of Connecticut. Don't miss this chance to acquire a substantial property at an attractive price point.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $200,000
      ML approach
      $200,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $265,000
      Market price range: $265k - $593k
      AI Estimate
      $203,000
      Market price range: $204k - $869k

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

    Location Insight

    • Map
    • Local Demand
    City
    New Hartford
    County
    Litchfield
    State
    Connecticut
    Longitude
    -72.9658
    Latitude
    41.8713
    CBSA code
    45860
    CBSA name
    TORRINGTON, CT MICROPOLITAN 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
    $2,103
    $65,660
    $11,270
    $76,930
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $275,000
      3,244 SF

      186 Main St

      INDUSTRIAL (GENERAL) • 3,244 SF
      186 Main St, New Hartford, CT 06057-2746
      View Details
    • Value Estimation
      $270,000
      25.33 Acres

      31 Industrial Park Rd

      INDUSTRIAL (GENERAL) • 25.33 Acres
      31 Industrial Park Rd, New Hartford, CT 06057-2337
      View Details
    • Value Estimation
      $1,065,000
      147,940 SF

      120 Industrial Park Rd

      INDUSTRIAL (GENERAL) • 147,940 SF
      120 Industrial Park Rd, New Hartford, CT 06057-2308
      View Details
    • Value Estimation
      $295,000
      0.40 Acres

      510 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 0.40 Acres
      510 Main St, New Hartford, CT 06057-2123
      View Details
    • Value Estimation
      $410,000
      8,320 SF

      1 Main St

      INDUSTRIAL (GENERAL) • 8,320 SF
      1 Main St, New Hartford, CT 06057-2706
      View Details
    • Value Estimation
      $1,065,000
      58,419 SF

      29 Industrial Park Rd

      INDUSTRIAL (GENERAL) • 58,419 SF
      29 Industrial Park Rd, New Hartford, CT 06057-2310
      View Details

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    339 Main St
    New Hartford, CT 06057-2707
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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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