Sign Up Successful!
You now have access to more from Realmo!
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

    440 New Britain Ave Plainville, CT 06062-2036

    • Medical offices
    • 27,937 SF
    • 6.23 lot acres
    OFF-MARKET
    Last Sale
    Sep 13, 2021
    $8,300,000
    Value Estimations
    $8,270,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0585921
    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

    • Dr. Sandor Nagy Jr, MD / Occupational Medical Physician
    • The Hospital of Central Connecticut Occupational Health Services / Occupational Therapist
    • Eileen Kisilis Plotkin / Gastroenterologist / Internist
    • Central Connecticut Physical / Physical Therapist
    • Randstad / Temp Agency

    Property Details for 440 New Britain Ave

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    6.23 lot acres
    Property size
    27,937 SF
    Zone code
    RI
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    PLAI M:32 B:B L:02
    APU
    PLAIM32BBL02

    Description

    This exceptional 27,937 square foot Class B medical office building, situated on a 6.29-acre lot in Plainville, Connecticut, presents a unique investment opportunity. Built in 1998, the single-story building features 149 parking spaces and is zoned RI. Currently, there is space available ranging from 8,000 to 10,000 square feet, with the potential for a build-to-suit addition of up to 10,000+ square feet. The property boasts a strong tenant roster, including Hartford Healthcare and the Central Connecticut Endoscopy Center, creating a synergistic environment. Its strategic location across from the newly constructed Hartford HealthCare Medical Arts Building and a hospital-owned Cancer Center (joint venture with Memorial Sloan Kettering) provides excellent visibility and access to a robust referral network. Convenient highway access and abundant local amenities further enhance its appeal. The minimum divisible space is 10,000 square feet, with a maximum contiguous space also of 10,000 square feet. This property is ideal for a medical practice seeking a highly accessible and well-established location in central Connecticut. The property's address is 440 New Britain Ave, Plainville, CT 06062.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,020,000
      ML approach
      $8,205,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainville
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.8317
    Latitude
    41.6704
    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
    $119,639
    $830,200
    $2,977,520
    $3,807,720
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,230,000
      72,021 SF

      201 Mtn Rd

      MEDICAL BUILDING • 72,021 SF
      201 Mtn Rd, Plainville, CT 06062-1848
      View Details
    • Value Estimation by Request
      6,844 SF

      137 New Britain Ave

      MEDICAL BUILDING • 6,844 SF
      137 New Britain Ave, Plainville, CT 06062-2021
      View Details
    • Value Estimation by Request
      14,208 SF

      7 Washington St

      MEDICAL BUILDING • 14,208 SF
      7 Washington St, Plainville, CT 06062-1957
      View Details
    • Value Estimation by Request
      6,220 SF

      92 Ee St

      MEDICAL BUILDING • 6,220 SF
      92 Ee St, Plainville, CT 06062-2302
      View Details
    • Value Estimation
      $535,000
      5,400 SF

      240 Ee St

      MEDICAL BUILDING • 5,400 SF
      240 Ee St, Plainville, CT 06062-2990
      View Details
    • Value Estimation by Request
      4,440 SF

      112 Main St

      MEDICAL BUILDING • 4,440 SF
      112 Main St, Plainville, CT 06062-1944
      View Details

    Similar Nearby for Sale

    • $5,800,000
      64,455 SF

      Adaptable Industrial Building with Office

      64,455 SF industrial building with office space for sale.
      72 Northwest Dr, Plainville, CT 06062
      View Details
    • $329,888

      Updated Office Space in Plainville

      Modern office space with open layout, conference room, and parking.
      90 Whiting St, Plainville, CT 06062
      View Details
    • $400,000
      1,140 SF

      Route 10 Retail/Office Space

      Prime Plainville location, seller financing available.
      282 East St, Plainville, CT 06062
      View Details
    • $400,000

      Retail/Office Space on Route 10

      1140 SF retail/office space with road frontage.
      282 East St, Plainville, CT 06062
      View Details
    • $1,950,000
      20,199 SF

      Adaptable Commercial Property in Plainville

      Spacious commercial property in high-traffic area, suitable for various ventures.
      151 East St, Plainville, CT 06062
      View Details
    • $120,000
      1,055 SF

      Plainville Office Space For Sale

      Commercial space in downtown Plainville with multiple offices.
      55 Whiting St, Plainville, CT 06062
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      2,378 SF

      Plainville Commercial Space For Lease

      Office and retail spaces available in Plainville, Connecticut.
      17 Farmington Ave, Plainville, CT 06062
      View Details
    • $17 SF/Yr
      14,400 SF

      Plainville Medical Office Building

      14,400 SF Office Space Available
      7 Washington St, Plainville, CT 06062
      View Details
    • $12 SF/Yr
      23,000 SF

      Plainville Medical Office Space

      1,500 SF Medical Office Suite Available
      58 East St, Plainville, CT 06062
      View Details
    • Contact for pricing
      72,022 SF

      Prime Plainville Medical Office Suite

      3,795 RSF Medical Office Space for Lease
      201 Mountain Rd, Plainville, CT 06062
      View Details
    • $1,000 /Mo
      850 SF

      Downtown Plainville Storefront and Office

      850 SqFt storefront and office space in downtown Plainville.
      10 West Main St, Plainville, CT 06062
      View Details
    • $600 /Mo
      100 SF

      Charming Mill Building Office Space

      Corner office in historic mill building with modern amenities.
      125 West Main St, Plainville, CT 06062
      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.
    440 New Britain Ave
    Plainville, CT 06062-2036
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.