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    34 Shunpike Rd Cromwell, CT 06416

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    34 Shunpike Rd Cromwell, CT 06416

    View on Map
    • Showrooms
    • 57,600 SF
    • 14.71 lot acres
    For Lease
    $4,265,000
    View Listing →
    Retail Space with Tesla Charging For Lease
    $4,265,000
    3,060 SF

    Retail Space with Tesla Charging

    Renovated retail space with high visibility and Tesla Supercharging.

    34 Shunpike Rd, Cromwell, CT
    View Listing
    Property ID
    US15-0792766
    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

    • BSD Business Consulting / Employment Agency
    • John Boyle Decorating Centers / Hardware & Home Improvement / Building Supply
    • Mia's Salon & Spa / Hair Salon / Nail Salon
    • Tiffany Nail & Spa / Nail Salon
    • AAA Cromwell / Travel Agency

    Property Details for 34 Shunpike Rd

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    14.71 lot acres
    Property size
    57,600 SF
    Zone code
    HB
    Property type
    Showrooms
    APN
    CROM M:00108700
    APU
    CROMM00108700

    Description

    Crossroads Plaza, located at 34 Shunpike Road in Cromwell, CT 06416, offers a diverse range of retail and restaurant spaces ideal for medical or general commercial use. This single-story, 57,319 square foot building sits on a 2.29-acre lot and underwent renovations in 2024. The property boasts ample parking with over 250 on-site spaces. Multiple suites are available, ranging from 1,230 to 6,120 contiguous square feet, with a minimum divisible space of 3,060 square feet. Currently, there are 9,150 square feet of vacant space. Specifically, there are three prominent units available: a 6,120 square foot end cap (divisible), a 1,230 square foot in-line space, and a 1,800 square foot in-line space. An additional 1,260 square foot in-line space is also available. The property features a total of 18 suites. The lease rate is $22.00 per square foot, with a common area maintenance and insurance (CAM) charge of $4.70 per square foot. Crossroads Plaza is conveniently located near Shunpike Road, offering excellent visibility and accessibility. This property presents a unique opportunity for businesses seeking a well-maintained, modern space in a thriving Connecticut community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,623,000
      Market price range: $3.45M - $11.3M
      AI Estimate
      $3,904,000
      Market price range: $3.05M - $8.92M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $6,960,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $6,120,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Cromwell
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.674
    Latitude
    41.6009
    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
    $117,395
    $1,063,020
    $2,928,660
    $3,991,680
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $9,500,000
      72,920 SF

      76 Berlin Rd

      SHOW ROOM, WAREHOUSE • 72,920 SF
      76 Berlin Rd, Cromwell, CT 06416-2602
      View Details
    • Value Estimation
      $1,140,000
      6,512 SF

      95 Berlin Rd

      SHOW ROOM, WAREHOUSE • 6,512 SF
      95 Berlin Rd, Cromwell, CT 06416-2604
      View Details
    • Value Estimation
      $13,850,000
      245,644 SF

      100 Berlin Rd

      SHOW ROOM, WAREHOUSE • 245,644 SF
      100 Berlin Rd, Cromwell, CT 06416-2603
      View Details
    • Value Estimation
      $1,135,000
      6,477 SF

      1 Kirby Rd

      SHOW ROOM, WAREHOUSE • 6,477 SF
      1 Kirby Rd, Cromwell, CT 06416-1003
      View Details
    • Value Estimation
      $2,275,000
      29,676 SF

      113 Berlin Rd

      SHOW ROOM, WAREHOUSE • 29,676 SF
      113 Berlin Rd, Cromwell, CT 06416-2604
      View Details
    • Value Estimation by Request
      2,806 SF

      72 Berlin Rd

      SHOW ROOM, WAREHOUSE • 2,806 SF
      72 Berlin Rd, Cromwell, CT 06416-2602
      View Details

    Similar Nearby for Sale

    • $2,500,000
      4,378 SF

      Restaurant and Retail Opportunity

      Two buildings on 0.51 acres with ample parking.
      198-200 West St, Cromwell, CT 06416
      View Details
    • Contact for pricing

      210 Shunpike Road & 102 Court Street, Cromwell, CT 06416

      Industrial land
      210 Court St, Cromwell, CT 06416
      View Details
    • $850,000
      1,800 SF

      Commercial Land at Signalized Intersection

      Commercial land for sale with easy highway access.
      151 West St, Cromwell, CT 06416
      View Details
    • $489,500
      6,425 SF

      Established Tavern with Growth Potential

      Family-owned tavern/sports bar with growth potential, renovated with outdoor patio.
      1 Wall St, Cromwell, CT 06416
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo
      1,200 SF

      Unique Commercial Space in Cromwell

      Retail/office space in a unique location, must see!
      309 Main St, Cromwell, CT 06416
      View Details
    • Contact for pricing
      5,522 SF

      Retail Space in Cromwell Center

      Highly visible end-cap location at a busy Cromwell intersection.
      195 West St, Cromwell, CT 06416
      View Details
    • Contact for pricing
      3,060 SF

      Retail Space with Tesla Charging

      Renovated retail space with high visibility and Tesla Supercharging.
      34 Shunpike Rd, Cromwell, CT 06416
      View Details
    • $3,400 /Mo
      2,000 SF

      Retail Space in Cromwell, CT

      Retail property for lease in Cromwell, Connecticut.
      309 Main St, Cromwell, CT 06416
      View Details
    • $1,600 /Mo
      850 SF

      Unique Retail Space in Cromwell

      Retail space for lease in a unique Cromwell location.
      309 Main St, Cromwell, CT 06416
      View Details
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    Cromwell, CT 06416
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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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    34 Shunpike Rd, Cromwell, CT, 06416
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