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

    38 Main St Vernon, CT 06066-3206

    • Banks
    • 1.65 lot acres
    OFF-MARKET
    Last Sale
    Jun 12, 2024
    $2,824,748
    Value Estimations
    $2,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0947219
    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

    • Dollar General / Convenience Store / Discount Store

    Property Details for 38 Main St

    Lot size
    1.65 lot acres
    Zone code
    DBR
    Property type
    Banks
    APN
    VERN M:40 B:0090 L:0001A
    APU
    VERNM40B0090L0001A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,825,000
      ML approach
      $2,825,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4465
    Latitude
    41.867
    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
    $13,922
    $148,810
    $268,130
    $416,940
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $335,000
      3,884 SF

      6 Pitkin Rd

      FINANCIAL BUILDING • 3,884 SF
      6 Pitkin Rd, Vernon, CT 06066-4709
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    • Value Estimation
      $355,000
      2,546 SF

      20 Hyde Ave

      FINANCIAL BUILDING • 2,546 SF
      20 Hyde Ave, Vernon, CT 06066-4503
      View Details
    • Value Estimation
      $360,000
      2,995 SF

      455 Hartford Tpke

      FINANCIAL BUILDING • 2,995 SF
      455 Hartford Tpke, Vernon, CT 06066-4820
      View Details
    • Value Estimation
      $1,570,000
      6,688 SF

      475 Talcottville Rd

      FINANCIAL BUILDING • 6,688 SF
      475 Talcottville Rd, Vernon, CT 06066-4020
      View Details
    • Value Estimation
      $270,000
      1,069 SF

      421 Talcottville Rd

      FINANCIAL BUILDING • 1,069 SF
      421 Talcottville Rd, Vernon, CT 06066-4018
      View Details
    • Value Estimation
      $245,000
      6,106 SF

      25 Park St

      FINANCIAL BUILDING • 6,106 SF
      25 Park St, Vernon, CT 06066-3211
      View Details

    Similar Nearby for Sale

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      Established Convenience Store For Sale

      Turnkey convenience store with high lottery sales in Vernon.
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      Profitable Storefront Retail Opportunity

      Existing 1400 sqft storefront retail business for sale.
      352 Hartford Tpke, Vernon, CT 06066
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      Retail Property For Sale

      Retail property available for purchase in Vernon Rockville, CT.
      75 Reservoir Rd, Vernon Rockville, CT 06066
      View Details
    • $2,175,000
      30,000 SF

      Versatile Commercial Property with Parking

      30,000 SF commercial building with 100 parking spaces.
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      Established Auto Repair Shop

      Auto repair shop on 1.25 acres, prime visibility.
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    Similar Nearby for Lease

    • Contact for pricing
      6,536 SF

      Vernon Retail Center: Prime Location

      Brand New Retail Space, High Visibility
      327 Talcottville Rd, Vernon, CT 06066
      View Details
    • Contact for pricing
      12,000 SF

      Retail Pad Sites Available

      Pad sites for lease or sale, 3,000-12,000 SF units.
      243 Talcottville Rd, Vernon, CT 06066
      View Details
    • Contact for pricing
      3,400 SF

      Retail Space Near Parks, Lakes

      Retail spaces available near parks, lakes, and trail system.
      253-273 Talcottville Rd, Vernon, CT 06066
      View Details
    • $2,750 /Mo
      1,425 SF

      Retail Space Near I-84

      1,425 SF retail space with high visibility and traffic.
      200 Hartford Tpke, Vernon, CT 06066
      View Details
    • Contact for pricing
      300,067 SF

      Tri-City Plaza Retail Space Available

      Vernon, CT Shopping Center - 7 Suites
      30-35 Talcottville Rd, Vernon, CT 06066
      View Details
    • Contact for pricing
      30,750 SF

      Vernon Retail Space For Lease

      Retail spaces available near major routes and anchor stores.
      295 Hartford Tpke, Vernon Rockville, CT 06066
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      7.3k
    • Avg Time on site
      16 min
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    38 Main St
    Vernon, CT 06066-3206
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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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