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    38 Boston Rd Middletown, CT 06457

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    38 Boston Rd Middletown, CT 06457

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    • Commercial real estate
    • 500 SF
    Off-Market
    Property ID
    US15-0981482
    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

    • Day Tymers Social Club / Adult Day Care
    • Heritage Commons Retirement Community / Retirement Community

    Property Details for 38 Boston Rd

    Property size
    500 SF
    Property type
    Commercial real estate

    Description

    This exceptional multifamily property, located at 38 Boston Rd in Middletown, Connecticut, presents a compelling investment opportunity. Situated in Middlesex County, this apartment building offers a range of unit sizes, boasting square footage varying from 500 to 1200 square feet. The building's classification as a multifamily property indicates its suitability for a diverse range of tenants. The address is conveniently located in Middletown, CT, zip code 06457, providing easy access to local amenities and transportation networks. The property's geographic coordinates are 41.5532755 latitude and -72.6755993 longitude, allowing for precise location identification and mapping. This is a "For Sale" listing, presenting a chance to acquire a well-situated multifamily investment in a thriving Connecticut market. The building's size and unit variations suggest potential for strong rental income and long-term appreciation. Further due diligence is recommended to fully assess the property's financial performance and potential. This is an excellent opportunity for investors seeking a stable and potentially lucrative addition to their portfolio. The property's location in Middletown offers access to a range of local services and attractions, making it an attractive option for prospective tenants. Serious inquiries are encouraged to explore this promising investment opportunity further. The property is currently available for purchase.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6755993
    Latitude
    41.5532755

    Comparable in this City

    • $1,450,000
      13,837 SF

      Mixed-Use Building in Middletown

      Ten-unit mixed-use property with commercial and residential spaces.
      480 Main Street Ext, Middletown, CT 06457
      View Details
    • $975,000

      Restored Mixed-Use Landmark Building

      Versatile investment opportunity in Middletown's vibrant Main Street.
      504 Main Street Ext, Middletown, CT 06457
      View Details
    • $1,450,000
      Pending

      Mixed-Use Building in Middletown

      Ten-unit mixed-use building with commercial and residential spaces.
      480 Main St, Middletown, CT 06457
      View Details
    • $1,100,000
      7,193 SF

      Middletown Mixed-Use Investment Opportunity

      Mixed-use property with retail and residential units in Middletown.
      138 Washington St, Middletown, CT 06457
      View Details

    Similar Nearby for Sale

    • $1,450,000
      13,837 SF

      Mixed-Use Building in Middletown

      Ten-unit mixed-use property with commercial and residential spaces.
      480 Main Street Ext, Middletown, CT 06457
      View Details
    • $975,000

      Restored Mixed-Use Landmark Building

      Versatile investment opportunity in Middletown's vibrant Main Street.
      504 Main Street Ext, Middletown, CT 06457
      View Details
    • $1,450,000
      Pending

      Mixed-Use Building in Middletown

      Ten-unit mixed-use building with commercial and residential spaces.
      480 Main St, Middletown, CT 06457
      View Details
    • $1,100,000
      7,193 SF

      Middletown Mixed-Use Investment Opportunity

      Mixed-use property with retail and residential units in Middletown.
      138 Washington St, Middletown, CT 06457
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo
      Pending

      Luxury Apartments in Middletown

      Upscale apartments in the heart of Middletown, near Wesleyan University.
      424 Main St, Middletown, CT 06457
      View Details
    • $1,800 /Mo

      Renovated Apartment Near Wesleyan University

      Completely renovated 2-bedroom apartment for rent near downtown.
      31 Loveland St, Middletown, CT 06457
      View Details
    • Contact for pricing
      1,000 SF

      Spacious Apartment for Rent

      Two-bedroom, one-bath apartment with open living spaces.
      22 Green St, Middletown, CT 06457
      View Details
    • $2,800 /Mo

      Modern Apartment with Included Utilities

      Newly constructed 3-bedroom apartment with included utilities and modern amenities.
      1 Alicia Ln, Middletown, CT 06457
      View Details
    • $1,700 /Mo
      Pending

      Reimagined Four-Unit Residence

      Modern four-unit residence with high-end finishes and on-site parking.
      141 Bridge St, Middletown, CT 06457
      View Details
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    38 Boston Rd
    Middletown, CT 06457
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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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