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    420 Talcottville Rd Vernon, CT 06066
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    Property profile & analytics

    420 Talcottville Rd, Vernon, CT 06066

    View on Map
    • Commercial land
    • 2.91 lot acres
    For Lease
    $895,000
    View Listing →
    Prime Pad Site For Lease For Lease
    $895,000

    Prime Pad Site For Lease

    Up to 6,000 SF pad site available for lease.

    420 Talcottville Rd, Vernon, CT 6066
    View Listing
    Property ID
    US15-1171887
    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
    $895,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Learning Experience - Vernon / Daycare Center
    • Popeyes Louisiana Kitchen / Restaurant

    Property Details for 420 Talcottville Rd

    Lot size
    2.91 lot acres
    Zone code
    COMMER
    Property type
    Commercial land
    APN
    VERN M:09 B:015H L:00030
    APU
    VERNM09B015HL00030

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 2, 2023 $895,000 Vernon Development LLC Pal Real Estate Investmen Warranty Deed $3.9M · Peoplesbank (holyoke Ma)
    Jul 12, 2022 — Pal Real Estate Inv LLC Nerp Hldg&acquisitions Quit Claim Deed · related —

    Description

    This exceptional commercial property, located at 420 Talcottville Road (Route 83) in Vernon, Connecticut, offers up to 6,000 square feet of space available for sale or lease. Situated on a 2.91-acre lot, this medical office space is part of a new development, with The Learning Experience soon to open nearby. The property boasts excellent visibility and high traffic counts, benefiting from its location in a busy retail corridor. This site conveniently serves the towns of Vernon, Rockville, Tolland, Ellington, South Windsor, and Manchester. Potential access is available via a signalized entrance, with ample shared parking and cross easements provided by the adjacent center. All essential utilities are readily available, including water, sewer, and gas. The property is zoned for commercial use, making it ideal for a variety of businesses, including retail, medical, restaurant, service, or financial institutions. The building currently has 30,000 square feet of vacant space. This presents a unique opportunity for businesses seeking a prominent location with strong accessibility and visibility in a thriving community. The property's multiple tenancy allows for flexibility in lease terms and space requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $875,000
      ML approach
      $915,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4857
    Latitude
    41.8452
    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
    2024
    $14,991
    $427,210
    $0.00
    $427,210
    -
    $0.00
    $0.00
    $0.00

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      Prime Commercial Pad Site Opportunity

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    Similar Nearby for Lease

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      Retail Development Site For Lease

      2.25 acre retail development site with drive-thru potential.
      327 Talcottville Rd, Vernon, CT 06066
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      Redevelopment Opportunity on 2.06 Acres

      2.06 acre lot with 2,300 SF building for lease.
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      Prime Pad Site For Lease

      Up to 6,000 SF pad site available for lease.
      420 Talcottville Rd, Vernon, CT 06066
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      Retail Development Site For Lease

      2.25 acre retail development site with drive-thru potential.
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      Talcottville Road Pad Sites Available

      Pad sites available for build-to-suit or sale in Vernon.
      243-253 Talcottville Rd, Vernon, CT 06066
      View Details
    • Contact for pricing

      Commercial Land with High Visibility

      Approved pad sites and development land in high-traffic area.
      380 Talcottville Rd, Vernon, CT 06066
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    Vernon, CT 06066
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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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    420 Talcottville Rd, Vernon, CT, 06066
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