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    Property profile & analytics

    54 Tuttle Pl Middletown, CT 06457-1863

    • Industrial properties
    • 30,146 SF
    • 2.22 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2022
    $1,886,000
    Value Estimations
    $2,030,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0053194
    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

    • Vanasse Hangen Brustlin Inc / Civil Engineer
    • Valuerx Pharmacy / Pharmacy

    Property Details for 54 Tuttle Pl

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.22 lot acres
    Property size
    30,146 SF
    Zone code
    I-2
    Property type
    Industrial properties
    APN
    MTWN M:09 L:0569
    APU
    MTWNM09L0569

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,820,000
      ML approach
      $1,795,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,655,000
      Market price range: $1.32M - $3.50M
      AI Estimate
      $1,252,000
      Market price range: $615k - $1.93M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,510,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6808
    Latitude
    41.5956
    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
    $46,019
    $323,930
    $987,150
    $1,311,080
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $350,000
      63.50 Acres

      1866 Riv Rd

      INDUSTRIAL (GENERAL) • 63.50 Acres
      1866 Riv Rd, Middletown, CT 06457-5712
      View Details
    • Value Estimation
      $635,000
      46,156 SF

      437 Middle St

      INDUSTRIAL (GENERAL) • 46,156 SF
      437 Middle St, Middletown, CT 06457-1547
      View Details
    • Value Estimation
      $915,000
      54,895 SF

      241 Middle St

      INDUSTRIAL (GENERAL) • 54,895 SF
      241 Middle St, Middletown, CT 06457
      View Details
    • Value Estimation
      $155,000
      2,573 SF

      75 Pease Ave

      INDUSTRIAL (GENERAL) • 2,573 SF
      75 Pease Ave, Middletown, CT 06457-2259
      View Details
    • Value Estimation
      $120,000
      13,950 SF

      60 Trigo Dr

      INDUSTRIAL (GENERAL) • 13,950 SF
      60 Trigo Dr, Middletown, CT 06457-6157
      View Details
    • Value Estimation
      $330,000
      4,388 SF

      151 William St

      INDUSTRIAL (GENERAL) • 4,388 SF
      151 William St, Middletown, CT 06457-3420
      View Details

    Similar Nearby for Sale

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      Middletown, CT Commercial Land Parcel

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    • $5,040,000
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      Farms • 11.07 Acres
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    • $1,290,938
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      Middletown, CT Commercial Land Parcel

      7.6-acre prime development site in Middletown, CT.
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    • $2,503,125
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    • $400,000
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      Middletown Industrial Land - 6 Acres

      Prime CT industrial lot, $400,000.
      7 Timber Ridge Rd, Middletown, CT 06457
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      1,180 SF

      Industrial Space Available For Rent

      Industrial property with 1,180 square feet available for lease.
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      View Details
    • Contact for pricing
      18,300 SF

      Downtown Middletown Commercial Space

      18,300 SF, versatile space, prime location.
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      View Details
    • $11 SF/Yr
      4,000 SF

      New Construction Flex Space Available

      New construction flex space for lease, divisible from 4,000 SF.
      2175 South Main Street Ext, Middletown, CT 06457
      View Details
    • $3,875,000
      36,885 SF

      Industrial Warehouse Facility For Rent

      36,885 SF industrial facility with convenient highway access.
      2055 S Main St, Middletown, CT 06457
      View Details
    • $9 SF/Yr
      8,548 SF

      Middletown Commercial Space For Lease

      Versatile office and warehouse space with highway access.
      362 Industrial Park Rd, Middletown, CT 06457
      View Details
    • $9 SF/Yr
      17,000 SF

      Middletown Warehouse Space Available

      Modern warehouse, 1,000-15,800 SF, Middlesex County
      25 Timber Ridge Rd, Middletown, CT 06457
      View Details
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    54 Tuttle Pl
    Middletown, CT 06457-1863
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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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