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Property profile & analytics
FOR LEASE
Showrooms
506 Cromwell Ave Rocky Hill, CT 06067
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US15-0568407
For Lease
$13.50 SF/Yr
506 Cromwell Ave, Rocky Hill, CT 06067
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Property summary
AI-generated overview
This 12,262 square foot Class B medical office building, constructed in 1989, is located at 506 Cromwell Avenue in Rocky Hill, Connecticut, 06067. The property sits on a 0.91-acre lot and offers multiple tenancy options. Currently, up to 2,473 contiguous square feet of vacant space is available for lease, with a minimum divisible space of 1,190 square feet. The building features a two-story design with ample parking (a 4/1000 ratio). While there are no elevators, the space is well-suited for medical practices. The layout includes multiple patient rooms, a waiting room, an X-ray room, a nurse's station, administrative offices, and a reception area. Additional parking is available next door. The property is zoned C and is situated in Hartford County. This turnkey space offers an excellent opportunity for medical professionals seeking a well-appointed and conveniently located office.
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1989
Construction
FRAME
Total area
12,262 SF
Lot
0.91 ac (39,640 SF)
Zoning code
C
APN
ROCK M:12 L:173
UPID
US15-0568407
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Gail Lagana, APRN Physician
-
Jeffrey Kahn Physician
-
Bryan Mehigen Physician
-
Latif Ayman M DPM Physician
-
Kallor Grin Dermatology: Grin Caron M MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$935k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$1.06M
Owner & transaction history
Paul A Bocciarelli · 2 yrs held
Paul A Bocciarelli
since 2023
Last sale
$1.2M
6 recorded transactions
Zoning & alternative use
C · Rocky Hill, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+9.6%
Office building
$1.4M
+4.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rocky Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rocky Hill submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$865,000
ML approach
$935,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,290,000
Current use
RETAIL STORES
$1,410,000
Change: +10% · Conversion: Easy
OFFICE BUILDING
$1,350,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,230,000
Change: -5% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,125,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±10% · vs last sale $1.20M (Sep 1 2023)
Last sale anchor
$1.20M
Sep 1 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$86 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$38,292
Tax year 2023
Assessed value
$1,066,030
Assessed 2023
Previous assessed
$1,066,030
+0.0% YoY
Effective rate
3.59%
On assessed value
Assessed land
$397,950
Assessed improvement
$668,080
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1989
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
2
Total area
12,262 SF
Lot
0.91 ac (39,640 SF)
Zoning code
C
APN
ROCK M:12 L:173
UPID
US15-0568407
Jurisdiction
ROCKY HILL
Zoning & alternative use
C · Rocky Hill, CT
Zoning C · permitted uses
C · Rocky Hill, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rocky Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1989
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
2
Lot
0.91 ac
Current owner
From public records · entity-resolved
Paul A Bocciarelli
Individual
Mailing address
506 CROMWELL AVE, ROCKY HILL, CT 06067-1851
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2023
—
Paul A Bocciarelli
Rocky Hl Medical Arts Ass
Warranty Deed
—
Sep 1, 2023
$1,203,125
Rocky Hl Medical Arts LLC
Rocky Hl Medical Arts Ass
Warranty Deed
$1,080,000 · Liberty Bank
Jan 10, 2002
—
Hal Med Arts Asc Rocky
—
Deed Of Trust
related
$875,000 · First Union National Bank
Mar 31, 1994
—
Rocky Hill Med Arts
—
Deed Of Trust
related
$1,191,000 · Shawmut Mortgage
Jul 28, 1989
—
Allstar Assocs
—
Deed Of Trust
related
$400,000 · Farm & Merchant Savings Bank
Sep 21, 1988
$350,000
Rocky Hill Medical Ctr
Allstar Assoc
Grant Deed
$1,225,000 · Ct Natl Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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