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447 Monroe Tpke, Monroe, CT 06468
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Property summary
AI-generated overview
This exceptional Monroe, CT retail property, located at 447 Monroe Turnpike (Route 111), offers two available suites totaling 4,013 square feet. The building features a prime corner location providing excellent visibility and accessibility from the busy Monroe Turnpike. Each suite is adaptable to a variety of uses, including retail, medical, or restaurant establishments. Suite sizes are 2,075 square feet and 1,938 square feet, offering flexibility for businesses of varying scales. The property boasts ample parking with 120 on-site spaces, ensuring convenient access for customers and employees. This vibrant shopping center is already home to a diverse mix of established businesses, including Linda’s Story Time, Card Smart, Monroe Cleaners, Subway, and FM One Stop, creating a synergistic environment and attracting a steady flow of foot traffic. The asking rent is $24 per square foot. The property consists of one building with a total of two suites. This is a fantastic opportunity for businesses seeking a high-traffic location with strong visibility and ample parking in a thriving commercial area. Contact us today to learn more about leasing opportunities and secure your space in this desirable location. The property is situated in Monroe, CT, zip code 06468.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1988
Construction
STEEL FRAME
Total area
13,792 SF
Lot
2.33 ac (101,495 SF)
Zoning code
B1
APN
MONR M:030 B:027 L:00
UPID
US15-0301590
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gym & Fitness Center
-
(Bike/Boat/Book/etc) Store
-
Restaurant Take-out & Catering
-
(Bike/Boat/Book/etc) Store
-
(Bike/Boat/Book/etc) Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.56M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.30M
Blend (final)
Blend
$5.51M
Owner & transaction history
since 2021
Last sale
$4.4M
5 recorded transactions
Zoning & alternative use
B1 · Monroe, CT
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$5.51M
Value range
$4.95M – $6.06M
±10% around blend
Estimated value / SF
$399 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
30
$4.95M
blend $5.51M
$6.06M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
13,792 SF
Lot area
2.33 ac
Year built
1988
Stories
1
APN
MONR M:030 B:027 L:00
Zoning
B1
Assessed value
$1,931,000
Annual tax
$72,509
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.77M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
11.8 mi away · 12,800 SF
24.6 mi away · 13,151 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$5.51M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 23 sales
$261
+53%
Submarket 23 sales
$261
+53%
County 754 sales
$233
+71%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $399/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.40M
Move the market yield to see immediate price impact.
Value / SF
$319
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$277k
$5.54M
$3.96M
$3.08M
$308k
$6.16M
$4.40M
$3.42M
$339k
$6.78M
$4.84M
$3.76M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$1.45M
9.2 mi · Dec 2025 · $145/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$72,509
Tax year 2023
Assessed value
$1,931,000
Assessed 2023
Previous assessed
$1,931,000
+0.0% YoY
Effective rate
3.75%
On assessed value
Assessed land
$1,019,400
Assessed improvement
$911,600
Applied tax rate
126.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
7
Total area
13,792 SF
Lot
2.33 ac (101,495 SF)
Zoning code
B1
APN
MONR M:030 B:027 L:00
UPID
US15-0301590
Jurisdiction
MONROE
Zoning & alternative use
B1 · Monroe, CTZoning B1 · permitted uses
B1 · Monroe, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
7
Lot
2.33 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B1
Jurisdiction
Monroe, CT
Recorded code
B1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B1 in Monroe, CT.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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