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    Property profile & analytics

    449 Silas Deane Hwy Wethersfield, CT 06109-2120

    • Office buildings
    • 18,756 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2022
    $1,005,000
    Value Estimations
    $1,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0078841
    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

    • Nancy Araujo, Weichert Realtors ZubretskyGrp / Real Estate Agent
    • Monica Barzola, Premier Properties of CT / Real Estate Agent
    • Benny Cabrera Jr. / Real Estate Agent
    • Superior Health & Wellness Clinic / Medical Clinic
    • Medical Aesthetics Bar / Medical Spa

    Property Details for 449 Silas Deane Hwy

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.19 lot acres
    Property size
    18,756 SF
    Zone code
    O
    Property type
    Office buildings
    APN
    WETH M:208 B:024
    APU
    WETHM208B024

    Description

    This Wethersfield, CT property at 449 Silas Deane Hwy offers 5,993 square feet of vacant space in a three-story, 18,756 square foot building, built in 1970. The building is zoned O and sits on a 1.19-acre lot. Units range from a minimum of 327 square feet to a maximum contiguous space of 5,666 square feet, perfect for multiple tenants or a single large occupant. Recent renovations include new carpeting, paint, decorative ceiling tiles, and LED lighting throughout. Exterior improvements include a freshly paved parking lot, fresh paint, and professional landscaping. The building boasts high visibility and high daily traffic counts due to its strategic location on Silas Deane Highway. Ground-level space offers convenient accessibility via a ramp. Build-to-suit options are available to accommodate diverse business needs, from traditional offices to medical facilities. This is an exceptional opportunity to secure office space in a newly remodeled building with modern amenities and a desirable location. The property is classified as Retail and Office, with an Executive Office subtype.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000
      ML approach
      $990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $991,000
      Market price range: $833k - $2.24M
      AI Estimate
      $1,025,000
      Market price range: $666k - $2.11M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,410,000
      Current use
      AUTO REPAIR, GARAGE
      $1,680,000
      Change: +19% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,640,000
      Change: +16% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,640,000
      Change: +16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wethersfield
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6647
    Latitude
    41.7136
    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
    $46,900
    $355,110
    $767,440
    $1,122,550
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $555,000
      10,977 SF

      1177 Silas Deane Hwy, Unit 1185

      OFFICE BUILDING • 10,977 SF
      1177 Silas Deane Hwy, Wethersfield, CT 06109-4348
      View Details
    • Value Estimation
      $310,000
      3,150 SF

      150 Hartford Ave

      OFFICE BUILDING • 3,150 SF
      150 Hartford Ave, Wethersfield, CT 06109-1808
      View Details
    • Value Estimation
      $355,000
      3,800 SF

      60 Beaver Rd

      OFFICE BUILDING • 3,800 SF
      60 Beaver Rd, Wethersfield, CT 06109-2201
      View Details
    • Value Estimation
      $290,000
      1,196 SF

      7 Railroad Pl

      OFFICE BUILDING • 1,196 SF
      7 Railroad Pl, Wethersfield, CT 06109-2349
      View Details
    • Value Estimation
      $225,000
      1,920 SF

      308 Silas Deane Hwy

      OFFICE BUILDING • 1,920 SF
      308 Silas Deane Hwy, Wethersfield, CT 06109-1735
      View Details
    • Value Estimation
      $270,000
      3,052 SF

      786 Silas Deane Hwy

      OFFICE BUILDING • 3,052 SF
      786 Silas Deane Hwy, Wethersfield, CT 06109-3071
      View Details

    Similar Nearby for Sale

    • $239,900

      Specialty Property For Sale

      Specialty property available for purchase.
      1275 Silas Deane Hwy, Wethersfield, CT 06109
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    • Contact for pricing

      Retail Center Land For Sale

      Land with high traffic, easy access, and development approvals.
      1610 Silas Deane Hwy, Wethersfield, CT 06109
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    • $405,000

      Land For Sale

      Land available for sale.
      14 Fernwood St, Wethersfield, CT 06109
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    • $389,900

      Wethersfield Specialty Property For Sale

      Specialty property available in Wethersfield, Connecticut.
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      Wethersfield Specialty Property For Sale

      Specialty property available for purchase in Wethersfield, Connecticut.
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    • $449,900

      Wethersfield Specialty Property For Sale

      Specialty property available for purchase in Wethersfield, Connecticut.
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    Similar Nearby for Lease

    • Contact for pricing
      40,000 SF

      New Office Park Construction

      Office park with build-to-suit options and ample parking.
      1210 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • $17 SF/Yr
      10,000 SF

      Wethersfield Office Building For Lease

      Four-story office building with Class A finishes and ample parking.
      936 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • $19 SF/Yr
      5,008 SF

      Wethersfield Office Space For Lease

      Available office space with convenient highway access and ample parking.
      1290 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • Contact for pricing
      15,000 SF

      Wethersfield Office Building for Lease

      Prime Wethersfield location, highway access.
      185 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
    • $1,200 /Mo
      893 SF

      Wethersfield Office/Medical Suites for Lease

      Well-maintained office and medical suites available in a prime location.
      78 Beaver Rd, Wethersfield, CT 06109
      View Details
    • $28 SF/Yr
      54,976 SF

      Wethersfield Medical Office Space

      3,841 SF Medical Office Suite Available
      1260 Silas Deane Hwy, Wethersfield, CT 06109
      View Details
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    Wethersfield, CT 06109-2120
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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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