Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    500 Purdy Hl Rd Ste, Unit 9 Monroe, CT 06468-1661

    • Office Properties & Spaces
    • 865 SF
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0782648
    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

    • Office Properties & Spaces

    Property Details for 500 Purdy Hl Rd Ste

    Year built
    1987
    Construction
    FRAME
    Property size
    865 SF
    Zone code
    B1
    Property type
    Office Properties & Spaces
    APN
    MONR M:019 B:017 L:09
    APU
    MONRM019B017L09

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $160,000
      Market price range: $86.4k - $223k
      AI Estimate
      $190,000
      Market price range: $84.0k - $239k

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2507
    Latitude
    41.3053
    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
    2024
    $3,016
    $0.00
    $78,800
    $78,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      5,000 SF

      755 Main St

      Office Properties & Spaces • 5,000 SF
      755 Main St, Monroe, CT 06468
      View Details
    • Value Estimation
      $240,000
      861 SF

      324 Elm St, Unit 104B

      CONDOMINIUM OFFICES • 861 SF
      324 Elm St, Monroe, CT 06468-2280
      View Details
    • Value Estimation
      $235,000
      5,541 SF

      755 Main St Ste, Unit 3

      CONDOMINIUM OFFICES • 5,541 SF
      755 Main St Ste, Monroe, CT 06468-2830
      View Details
    • Value Estimation
      $240,000
      934 SF

      324 Elm St Ste 105b

      CONDOMINIUM OFFICES • 934 SF
      324 Elm St Ste 105b, Monroe, CT 06468-2283
      View Details
    • Value Estimation
      $240,000
      1,091 SF

      324 Elm St Ste 103a

      CONDOMINIUM OFFICES • 1,091 SF
      324 Elm St Ste 103a, Monroe, CT 06468-2281
      View Details
    • Value Estimation
      $235,000
      710 SF

      500 Purdy Hl Rd, Unit 11

      CONDOMINIUM OFFICES • 710 SF
      500 Purdy Hl Rd, Monroe, CT 06468-1661
      View Details

    Similar Nearby for Sale

    • $95,000

      Inviting Office Condominium Unit

      Functional and stylish office space in a convenient location.
      324 Elm St, Monroe, CT 06468
      View Details
    • $1,500,000
      12,424 SF

      Prime Monroe Industrial Property

      12,424 SF Manufacturing Building, 4 Acres
      1480 Monroe Tpke, Monroe, CT 06468
      View Details
    • $2,366,000
      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

      Mixed-Use Property in Monroe, CT

      Two-story building with retail space and potential for apartments.
      605 Main St, Monroe, CT 06468
      View Details
    • $900,000
      1.96 Acres

      Prime Monroe Commercial Land

      1.96 Acres, High Visibility, $900,000
      528 Monroe Tpke, Monroe, CT 06468
      View Details
    • $949,900

      Block Farm Road Property

      Property at Block Farm Rd, Monroe, CT 06468 for sale.
      44 Block Farm Rd, Monroe, CT 06468
      View Details

    Similar Nearby for Lease

    • $550 /Mo
      600 SF

      Professional Office Space For Rent

      Unfurnished office space with utilities included, ideal for professionals.
      755 Main St, Monroe, CT 06468
      View Details
    • $1,200 /Mo
      600 SF

      Monroe Office Space For Lease

      Second floor office space in Stepney Green location, Monroe, CT.
      446 Main St, Monroe, CT 06468
      View Details
    • $30 SF/Yr
      2,400 SF

      Monroe Main Street Retail/Office Space

      2400 SF Office Space, High Traffic Area
      856 Main St, Monroe, CT 06468
      View Details
    • $2,500 /Mo
      23,522 SF

      Monroe Commercial Space For Lease

      Freestanding building on State Highway, suitable for retail or office.
      406 Main St, Monroe, CT 06468
      View Details
    • $850 /Mo
      1,500 SF

      Turn Key Office Suite

      Window offices available in Monroe Center with utilities included.
      500 Monroe Tpke, Monroe, CT 06468
      View Details
    • $850 /Mo
      1,500 SF

      Turn Key Office Suite

      1500 SF office suite with shared amenities for rent.
      500 Monroe Tpke, Monroe, CT 06468
      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.
    500 Purdy Hl Rd Ste, Unit 9
    Monroe, CT 06468-1661
    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.