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    Property profile & analytics

    501 Main St Monroe, CT 06468-1116

    • Office properties & Spaces
    • 15,530 SF
    OFF-MARKET
    Last Sale
    Jan 28, 2022
    Value Estimations
    $2,195,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1208275
    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

    • CPS / (Bike/Boat/Book/etc) Store / Corporate Office
    • Mark J. Schwartz, Dmd / Dental Office
    • Patience Pediatrics / Pediatrician / Medical Clinic
    • Lenard Edward W MD / Pediatrician / Medical Clinic
    • Solli Engineering LLC / General Contractor

    Property Details for 501 Main St

    Year built
    1988
    Construction
    STEEL FRAME
    Property size
    15,530 SF
    Property type
    Office properties & Spaces
    APN
    MONR M:045 B:019 L:01
    APU
    MONRM045B019L01

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,005,000
      Market price range: $1.55M - $4.00M
      AI Estimate
      $2,383,000
      Market price range: $1.51M - $4.30M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,710,000
      Current use
      AUTO REPAIR, GARAGE
      $3,630,000
      Change: +34% Conversion: Difficult
      RETAIL STORES
      $2,885,000
      Change: +7% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $2,460,000
      Change: -9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2673
    Latitude
    41.3262
    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
    $36,960
    $0.00
    $984,300
    $984,300
    -
    $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 by Request
      861 SF

      324 Elm St, Unit 104B

      CONDOMINIUM OFFICES • 861 SF
      324 Elm St, Monroe, CT 06468-2280
      View Details
    • Value Estimation
      $790,000
      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 by Request
      865 SF

      500 Purdy Hl Rd Ste, Unit 9

      CONDOMINIUM OFFICES • 865 SF
      500 Purdy Hl Rd Ste, Monroe, CT 06468-1661
      View Details
    • Value Estimation by Request
      934 SF

      324 Elm St Ste 105b

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

      324 Elm St Ste 103a

      CONDOMINIUM OFFICES • 1,091 SF
      324 Elm St Ste 103a, Monroe, CT 06468-2281
      View Details

    Similar Nearby for Sale

    • $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
    • $95,000
      589 SF

      Refreshed Office Condo Unit

      Functional and stylish office condo with newer carpeting and convenient location.
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    • $1,500,000

      Commercial/Industrial Property with RF-2 Zoning

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    • $1,300,000
      11,867 SF

      Fully Leased Office Investment Property

      Income-producing office property in Monroe's thriving business district.
      388 Main St, Monroe, CT 06468
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    • $95,000

      Inviting Office Condominium Unit

      Functional and stylish office space in a convenient location.
      324 Elm St, Monroe, CT 06468
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    • $95,000

      Refreshed Office Condominium Unit

      Functional and stylish office condominium with newer carpeting.
      324 Elm St, Monroe, CT 06468
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    Similar Nearby for Lease

    • $4,200 /Mo
      1,200 SF

      Medical Office Space Available

      1,200 SF medical office space for lease.
      500 Monroe Tpke, Monroe, CT 06468
      View Details
    • $850 /Mo
      1,500 SF

      Turn Key Office Suite

      Ready-to-use office suites with shared amenities in Monroe Center.
      500 Monroe Tpke, Monroe, CT 06468
      View Details
    • $500 /Mo
      600 SF

      Professional Office Space Available

      Unfurnished office space with shared amenities, utilities included.
      755 Main St, Monroe, CT 06468
      View Details
    • Contact for pricing

      Main Street Commercial Space Available

      Commercial space for rent with ample parking and utilities.
      856 Main St, Monroe, CT 06468
      View Details
    • $295 SF/Yr
      600 SF

      Professional Office Space Available

      Unfurnished office in professionally occupied building, utilities included.
      755 Main St, Monroe, CT 06468
      View Details
    • $4,200 /Mo
      22,612 SF

      Monroe Medical/Professional Office Suite

      2,900 SF office suite available for lease immediately.
      500 Monroe Tpke, Monroe, CT 06468
      View Details
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    501 Main St
    Monroe, CT 06468-1116
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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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