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    35 Commerce Dr Cromwell, CT 06416-1167
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    Property profile & analytics

    35 Commerce Dr Cromwell, CT 06416-1167

    View on Map
    • Industrial properties
    • 5,334 SF
    • 1.11 lot acres
    Off-Market
    Last Sale Oct 7, 2022
    $662,500
    Property ID
    US15-0153347
    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
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial properties

    Property Details for 35 Commerce Dr

    Year built
    2015
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.11 lot acres
    Property size
    5,334 SF
    Zone code
    IND
    Property type
    Industrial properties
    APN
    CROM M:10406800
    APU
    CROMM10406800

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $640,000
      ML approach
      $640,000

    • 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cromwell
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6788
    Latitude
    41.6316
    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
    $6,357
    $95,900
    $120,260
    $216,160
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $22,710,000
      403,000 SF

      120 Countyline Dr

      INDUSTRIAL (GENERAL) • 403,000 SF
      120 Countyline Dr, Cromwell, CT 06416-1186
      View Details
    • Value Estimation
      $3,020,000
      106,600 SF

      14 Alcap Rdg

      INDUSTRIAL (GENERAL) • 106,600 SF
      14 Alcap Rdg, Cromwell, CT 06416-1058
      View Details
    • Value Estimation
      $735,000
      9,582 SF

      200 Corporate Row

      INDUSTRIAL (GENERAL) • 9,582 SF
      200 Corporate Row, Cromwell, CT 06416-2029
      View Details
    • Value Estimation
      $730,000
      7,350 SF

      10 Progress Dr

      INDUSTRIAL (GENERAL) • 7,350 SF
      10 Progress Dr, Cromwell, CT 06416-1034
      View Details
    • Value Estimation
      $590,000
      5,970 SF

      9 Progress Dr

      INDUSTRIAL (GENERAL) • 5,970 SF
      9 Progress Dr, Cromwell, CT 06416-1035
      View Details
    • Value Estimation by Request
      4.68 Acres

      50 Sebethe Dr

      INDUSTRIAL (GENERAL) • 4.68 Acres
      50 Sebethe Dr, Cromwell, CT 06416-1015
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14,220 SF

      Industrial Building with Air Conditioning

      14,220 SF industrial building on 2.14 acres for lease.
      10 Countyline Dr, Cromwell, CT 06416
      View Details
    • Contact for pricing

      Prime Land with I-91 Visibility

      13-acre site ideal for office, retail, hospitality, and self-storage.
      10 Sebethe Dr, Cromwell, CT 06416
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      210 Shunpike Road & 102 Court Street, Cromwell, CT 06416

      Industrial land
      210 Court St, Cromwell, CT 06416
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,800 SF

      New Construction Industrial Flex Space

      New construction industrial condominium units for lease, convenient location.
      60 Countyline Dr, Cromwell, CT 06416
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Cromwell, Connecticut.
      136 Berlin Rd, Cromwell, CT 06416
      View Details
    • $2,800 /Mo

      Main Street Mixed-Use Property

      Mixed-use property with retail and office space available for rent.
      542 Main St, Cromwell, CT 06416
      View Details
    • Contact for pricing
      19,000 SF

      Cromwell Office Space Sublease

      Office space available for sublease in Cromwell, Connecticut.
      106 Sebethe Dr, Cromwell, CT 06416
      View Details
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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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    35 Commerce Dr, Cromwell, CT, 06416
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