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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Industrial properties
35 Commerce Dr Cromwell, CT 06416-1167
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US15-0153347
Property summary
AI-generated overview
This ±1.11-acre site in Cromwell, Connecticut, offers a ±5,328 square foot industrial shell building, perfect for distribution, flex, or warehouse operations. Built in 2015, the single-story building boasts a 16-foot ceiling height, providing ample storage and operational space. The property is zoned IND, allowing for a variety of industrial uses. Its convenient location offers easy access to I-91 and Route 3, ensuring efficient transportation and logistics. The site is situated near local amenities, including banks, shopping centers, and restaurants, providing convenience for employees and clients. With its expansive lot size, there's potential for future expansion, making this property a versatile and valuable asset. The address is 35 Commerce Drive, Cromwell, CT 06416, in Middlesex County. This exceptional opportunity combines functionality, accessibility, and growth potential in a thriving Connecticut location.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,334 SF
Lot
1.11 ac (48,352 SF)
Zoning code
IND
APN
CROM M:10406800
UPID
US15-0153347
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$640k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$650k
Owner & transaction history
Elec Workers Local Union · 3 yrs held
Elec Workers Local Union
since 2022
Last sale
$662,500
3 recorded transactions
Zoning & alternative use
IND · Cromwell, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$645,000
+45.1%
Apartment house (5+ units)
$565,000
+27.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cromwell submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cromwell submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$640,000
ML approach
$640,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$445,000
Current use
COMMERCIAL (GENERAL)
$645,000
Change: +45% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$565,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $663k (Oct 7 2022)
Last sale anchor
$663k
Oct 7 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$122 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,357
Tax year 2023
Assessed value
$216,160
Assessed 2023
Previous assessed
$216,160
+0.0% YoY
Effective rate
2.94%
On assessed value
Assessed land
$95,900
Assessed improvement
$120,260
Applied tax rate
256.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Buildings
1
Stories
1
Units
1
Total area
5,334 SF
Lot
1.11 ac (48,352 SF)
Zoning code
IND
APN
CROM M:10406800
UPID
US15-0153347
Jurisdiction
CROMWELL
Zoning & alternative use
IND · Cromwell, CTZoning IND · permitted uses
IND · Cromwell, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$445,000
COMMERCIAL (GENERAL)
Est. value
$645,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$565,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Stories
1
Buildings
1
Units
1
Lot
1.11 ac
Current owner
From public records · entity-resolved
Elec Workers Local Union
Individual
Mailing address
35 COMMERCE DR, CROMWELL, CT 06416-1167
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2022
$662,500
Elec Workers Local Union
Luke Dimaria
Warranty Deed
$530,000 · Bank Of Labor
Sep 28, 2012
$124,000
Luke Dimaria
Mpm Ent LLC
Warranty Deed
—
Mar 6, 2007
$90,000
Mpm Entertainment LLC
Coles Brk Commerce Pk LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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