Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    390 John Downey Dr New Britain, CT 06051-2908

    • Industrial properties
    • 23,400 SF
    • 2.60 lot acres
    OFF-MARKET
    Last Sale
    Nov 04, 2024
    $1,500,000
    Value Estimations
    $1,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0362761
    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

    • D.S.O. Manufacturing / Industrial Manufacturer

    Property Details for 390 John Downey Dr

    Year built
    1969
    Construction
    STEEL FRAME
    Lot size
    2.60 lot acres
    Property size
    23,400 SF
    Zone code
    I1
    Property type
    Industrial properties
    APN
    NBRI M:A9B B:9
    APU
    NBRIMA9BB9

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,619,000
      Market price range: $976k - $2.33M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,620,000
      Current use
      AUTO REPAIR, GARAGE
      $2,345,000
      Change: +45% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,250,000
      Change: +39% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,350,000
      Change: -17% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,305,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    New Britain
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7564
    Latitude
    41.6647
    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
    $28,152
    $196,070
    $539,350
    $735,420
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      468,700 SF

      221 South St

      Distribution properties • 468,700 SF
      221 South St, New Britain, CT 06051
      View Details
    • Value Estimation by Request
      7.49 Acres

      33 John St

      INDUSTRIAL (GENERAL) • 7.49 Acres
      33 John St, New Britain, CT 06051-2748
      View Details
    • Value Estimation
      $3,110,000
      136,824 SF

      206 Newington Ave

      INDUSTRIAL (GENERAL) • 136,824 SF
      206 Newington Ave, New Britain, CT 06051-2130
      View Details
    • Value Estimation by Request
      8,295 SF

      216 Whiting St

      INDUSTRIAL (GENERAL) • 8,295 SF
      216 Whiting St, New Britain, CT 06051-3124
      View Details
    • Value Estimation
      $1,315,000
      74,265 SF

      456 John Downey Dr

      INDUSTRIAL (GENERAL) • 74,265 SF
      456 John Downey Dr, New Britain, CT 06051-2910
      View Details
    • Value Estimation
      $1,350,000
      15,452 SF

      230 John Downey Dr

      INDUSTRIAL (GENERAL) • 15,452 SF
      230 John Downey Dr, New Britain, CT 06051-2906
      View Details

    Similar Nearby for Sale

    • $425,000

      221 South St

      Industrial properties
      221 South St, New Britain, CT 06051
      View Details
    • Contact for pricing
      2,142 SF

      Industrial Property in New Britain

      2,142 SF industrial property available for sale.
      175 Newington Ave, New Britain, CT 06051
      View Details
    • Contact for pricing
      5,130 SF

      Industrial Property in New Britain

      5,130 SF industrial property available for sale.
      99 Newington Ave, New Britain, CT 06051
      View Details
    • Contact for pricing
      33,276 SF

      Flex Building in New Britain

      33,276 SF flex building for sale or lease.
      389 John Downey Dr, New Britain, CT 06051
      View Details
    • $725,000
      4,760 SF

      Versatile Commercial Building in New Britain

      Adaptable commercial building with office, garage, and parking.
      551 Stanley St, New Britain, CT 06051
      View Details
    • Contact for pricing
      33,276 SF

      33,276 SF Flex/Industrial Building

      33,276 SF flex/industrial building on 2.13 acres.
      389 John Downey Dr, New Britain, CT 06051
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Contractor Unit For Rent

      1,120 SF industrial unit with drive-in door, office, bathroom.
      179 Coccomo Cir, New Britain, CT 06051
      View Details
    • Contact for pricing
      12,000 SF

      Industrial Space with Office

      12,000 SF industrial space with air-conditioned office for lease.
      150 Production Ct, New Britain, CT 06051
      View Details
    • Contact for pricing
      10,350 SF

      Industrial Space with Cranes

      10,350 SF industrial space featuring cranes and office space.
      250 John Downey Dr, New Britain, CT 06051
      View Details
    • Contact for pricing
      17,500 SF

      Industrial Space Available For Lease

      17,500 SF industrial space for lease in New Britain.
      270 John Downey Dr, New Britain, CT 06051
      View Details
    • Contact for pricing

      Industrial/Office Space in New Britain

      Industrial/Office space available, ideal for manufacturing, near downtown.
      33 John St, New Britain, CT 06051
      View Details
    • Contact for pricing

      Industrial/Warehouse Space for Lease

      Industrial/warehouse space available in New Britain Business Park.
      221 South St, New Britain, CT 06051
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    390 John Downey Dr
    New Britain, CT 06051-2908
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!