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

    426 Salem Tpke Bozrah, CT 06334

    • Office buildings
    • 10,476 SF
    • 2.50 lot acres
    For Lease
    View listing
    $1,800 /Mo
    Last Sale
    Mar 02, 2023
    $700,000
    Value Estimations
    $665,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1013737
    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

    • Ajs/Shakun Insurance & Financial / Insurance Agency
    • Currie's Plumbing, Heating, & Cooling Inc. / Air Conditioning Contractor / Bathroom Remodeler
    • Bozrah Pizza Restaurant / Pizza Restaurant
    • Small Jay CPA / Tax Preparation Service

    Property Details for 426 Salem Tpke

    Year built
    1976
    Construction
    FRAME
    Lot size
    2.50 lot acres
    Property size
    10,476 SF
    Zone code
    HC
    Property type
    Office buildings
    APN
    BOZR M:19 L:071
    APU
    BOZRM19L071

    Description

    This exceptional two-story commercial property, totaling 2,340 square feet, offers two available suites in a vibrant location. The first floor boasts 1,500 square feet of versatile space, perfect for executive offices or coworking. This floor plan includes a reception area, lobby, open floor plan, and three private offices. Rent is $1,800 per month, gross plus utilities. The second floor comprises 840 square feet, featuring two offices and a file room, ideal for smaller businesses or medical practices. Monthly rent is $1,200, gross plus utilities. The building sits on a 2.5-acre lot, zoned HC, and enjoys high visibility with a daily traffic count of 6,300 vehicles. Its convenient location just beyond the Norwich town line provides easy access to I-395. The property is currently multi-tenant, with established businesses including Bozrah Pizza, Currie's Plumbing & HVAC, and Small Jay CPA as neighbors. This presents a unique opportunity for businesses seeking flexible and well-located office space in a thriving community. The maximum contiguous space available is 1,500 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $615,000
      ML approach
      $575,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $813,000
      Market price range: $645k - $2.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    Bozrah
    County
    New London
    State
    Connecticut
    Longitude
    -72.1503
    Latitude
    41.5069
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, 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
    $8,466
    $72,800
    $303,450
    $376,250
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $265,000
      4,230 SF

      44 Lebanon Rd

      OFFICE BUILDING • 4,230 SF
      44 Lebanon Rd, Bozrah, CT 06334-1116
      View Details
    • Value Estimation
      $240,000
      5,200 SF

      28 Haughton Rd

      OFFICE BUILDING • 5,200 SF
      28 Haughton Rd, Bozrah, CT 06334-1207
      View Details
    • Value Estimation
      $220,000
      1,304 SF

      410 Salem Tpke

      OFFICE BUILDING • 1,304 SF
      410 Salem Tpke, Bozrah, CT 06334-1519
      View Details
    • Value Estimation
      $250,000
      1,792 SF

      178 Fitchville Rd

      OFFICE BUILDING • 1,792 SF
      178 Fitchville Rd, Bozrah, CT 06334-1105
      View Details
    • Value Estimation
      $270,000
      660 SF

      25 Gilman Rd

      OFFICE BUILDING • 660 SF
      25 Gilman Rd, Bozrah, CT 06334
      View Details
    • Value Estimation
      $310,000
      2,178 SF

      194 Fitchville Rd

      OFFICE BUILDING • 2,178 SF
      194 Fitchville Rd, Bozrah, CT 06334-1129
      View Details

    Similar Nearby for Sale

    • $449,000

      Bozrah Specialty Property For Sale

      Specialty property available for purchase in Bozrah, Connecticut.
      15 Goulart Dr, Bozrah, CT 06334
      View Details
    • $675,000

      Bozrah Land Parcel For Sale

      7.01 acre parcel with water and sewer access.
      Old Salem Rd, Bozrah, CT 06334
      View Details
    • $675,000
      7.01 Acres

      Bozrah, CT Commercial Land - $675K

      7-Acre Commercial Lot, High Visibility
      0 Salem Tpke, Bozrah, CT 06334
      View Details
    • $825,000

      111 Acres in Bozrah CT

      111 acres suitable for estate or family compound.
      Bozrah St, Bozrah, CT 06334
      View Details
    • $135,000
      7.14 Acres

      Approved Residential Land in Bozrah

      7.14-acre approved lot for a dream home in Bozrah.
      73 Blue Hill Rd, Bozrah, CT 06334
      View Details
    • $364,900
      20.23 Acres

      Bozrah Residential Land with Driveway

      Large building lot with driveway, gravel pad, and power.
      408 Fitchville Rd, Bozrah, CT 06334
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      3,000 SF

      Bozrah Office Space For Rent

      Office spaces available in Bozrah, CT with flexible layouts.
      426 Salem Tpke, Bozrah, CT 06334
      View Details
    • $1,150 /Mo
      1,250 SF

      Bozrah Commercial Space with Office

      Flex space with storage, office, and convenient highway access.
      435 Salem Tpke, Bozrah, CT 06334
      View Details
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    Bozrah, CT 06334
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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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