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    Property profile & analytics

    447 Monroe Tpke Monroe, CT 06468

    • Showrooms
    • 13,792 SF
    • 2.33 lot acres
    For Lease
    View listing
    Last Sale
    Dec 06, 2021
    $4,400,000
    Value Estimations
    $4,830,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0301590
    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

    • Koko FitClub of Monroe / Gym & Fitness Center
    • Monroe Cleaners / (Bike/Boat/Book/etc) Store
    • Subway / Restaurant / Take-out & Catering
    • Cardsmart / (Bike/Boat/Book/etc) Store
    • Linda'S Story Time / (Bike/Boat/Book/etc) Store

    Property Details for 447 Monroe Tpke

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    2.33 lot acres
    Property size
    13,792 SF
    Zone code
    B1
    Property type
    Showrooms
    APN
    MONR M:030 B:027 L:00
    APU
    MONRM030B027L00

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,505,000
      ML approach
      $5,555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,296,000
      Market price range: $1.41M - $5.46M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,600,000
      Current use
      RESTAURANT
      $3,545,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,220,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2194
    Latitude
    41.3144
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, 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
    $72,509
    $1,019,400
    $911,600
    $1,931,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $935,000
      14,132 SF

      721 Main St

      SHOW ROOM, WAREHOUSE • 14,132 SF
      721 Main St, Monroe, CT 06468-2810
      View Details
    • Value Estimation
      $1,350,000
      24,688 SF

      380 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 24,688 SF
      380 Monroe Tpke, Monroe, CT 06468-2279
      View Details
    • Value Estimation
      $1,925,000
      3,315 SF

      145 Main St

      SHOW ROOM, WAREHOUSE • 3,315 SF
      145 Main St, Monroe, CT 06468
      View Details
    • Value Estimation
      $1,175,000
      22,612 SF

      500 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 22,612 SF
      500 Monroe Tpke, Monroe, CT 06468-2354
      View Details
    • Value Estimation
      $765,000
      7,567 SF

      315 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 7,567 SF
      315 Monroe Tpke, Monroe, CT 06468-2201
      View Details
    • Value Estimation
      $510,000
      2,981 SF

      390 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 2,981 SF
      390 Monroe Tpke, Monroe, CT 06468-2245
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,560 SF

      NNN Leased Retail Investment Property

      Retail property with NAPA Auto Parts and Webster Bank tenants.
      495 Monroe Tpke, Monroe, CT 06468
      View Details
    • $895,000
      8,832 SF

      Monroe Main Street Mixed-Use Opportunity

      Prime Monroe location, 8,832 sq ft, mixed-use potential.
      605 Main St, Monroe, CT 06468
      View Details
    • Contact for pricing
      5,300 SF

      Retail Property in Monroe, CT

      Retail property available for sale in Monroe, Connecticut.
      143 Purdy Hill Rd, Monroe, CT 06468
      View Details
    • Contact for pricing
      7,500 SF

      Retail Property on Main Street

      Retail property available for sale on Main Street.
      656 Main St, Monroe, CT 06468
      View Details
    • $1,300,000
      Pending

      Monroe Investment Office Property

      Fully occupied office property in Monroe's thriving business district.
      388 Main St, Monroe, CT 06468
      View Details
    • Contact for pricing
      5,300 SF

      Restaurant Investment Opportunity

      Restaurant property with established tenants.
      143 Purdy Hill Rd, Monroe, CT 06468
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo
      1,416 SF

      Monroe Retail Space For Lease

      Retail space with side yard display area in Monroe, CT.
      391 Main St, Monroe, CT 06468
      View Details
    • $3,200 /Mo

      Main Street Retail Showroom Space

      Retail showroom space with display yard on Main Street.
      391 Main St, Monroe, CT 06468
      View Details
    • $1,200 /Mo
      1,050 SF

      Retail Space in Monroe, CT

      First floor retail space available for lease in Monroe.
      605 Main St, Monroe, CT 06468
      View Details
    • $2,700 /Mo
      1,100 SF

      Retail Space in Busy Plaza

      Retail space for rent in high-traffic Monroe, Connecticut.
      483 Monroe Tpke, Monroe, CT 06468
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Ideal for Bank

      Retail space suitable for bank pad or light office.
      255 Monroe Tpke, Monroe, CT 06468
      View Details
    • $10 SF/Yr
      17,394 SF

      Monroe Commercial Flex Space Available

      Flexible commercial building in Monroe, CT, suitable for varied uses.
      1545 Monroe Tpke, Monroe, CT 06468
      View Details
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    447 Monroe Tpke
    Monroe, CT 06468
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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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