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    581 Cromwell Ave Rocky Hill, CT 06067
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    581 Cromwell Ave Rocky Hill, CT 06067

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    • Commercial land
    For Lease
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    Commercial Space in Rocky Hill For Lease
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    Commercial Space in Rocky Hill

    Commercial space suitable for retail, restaurant, medical, or office.

    581 Cromwell Ave, Rocky Hill, CT 6067
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    Property ID
    US15-0852923
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 581 Cromwell Ave

    Property type
    Commercial land
    Property subtype
    Retail space

    Description

    The Shoppes at 581 Cromwell 581 Cromwell Ave. Rte. 3, Rocky Hill, CT Property Details LEASING: Up to 2,000 – 15,000 SF build-to-suit LOT SIZE: 3.62 acres ZONING: Commercial PROPOSED USES : Ideal for retail, restaurant, medical, office, or daycare

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Hill
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.6808516
    Latitude
    41.6546649

    Comparable in this City

    • Contact for pricing

      Route 3 Development Opportunity

      Upcoming development on Route 3 for various commercial uses.
      856 Cromwell Ave, Rocky Hill, CT 06067
      View Details
    • $1,700 /Mo
      1,200 SF

      Retail/Office Space For Rent

      1200 SF retail/office space in high-traffic area.
      1840 Silas Deane Hwy, Rocky Hill, CT 06067
      View Details
    • Contact for pricing
      1,550 SF

      Rocky Hill Retail/Office Spaces

      Multiple retail and office spaces available in Rocky Hill.
      21-53 New Britain Ave, Rocky Hill, CT 06067
      View Details
    • $1.00 SF/Yr
      35,705 SF

      Versatile Commercial Building on Silas Deane

      35,705 SF commercial building with retail, warehouse, and office space.
      1930 Silas Deane Hwy, Rocky Hill, CT 06067
      View Details
    • $1,495 /Mo
      1,330 SF

      Flexible Office Space Available

      Varied office sizes, shared reception, suitable for diverse business needs.
      2049 Silas Deane Hwy, Rocky Hill, CT 06067
      View Details

    Similar Nearby for Sale

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      9,000 SF

      Mixed-Use Property in Rocky Hill

      9,000 sq ft mixed-use property with office and retail space.
      154 New Britain Ave, Rocky Hill, CT 06067
      View Details
    • Contact for pricing
      4,509 SF

      Rocky Hill Retail/Office Investment

      4,509 SF building in established retail/office area for sale.
      1834 Silas Deane Hwy, Rocky Hill, CT 06067
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    • $99,900
      1,086 SF

      Rocky Hill Office For Sale

      Commercial property in a desirable business community with highway access.
      35 Cold Spring Rd, Rocky Hill, CT 06067
      View Details
    • $199,000
      1,400 SF

      Turnkey Office Condo For Sale

      Fully furnished, move-in ready office condo in Rocky Hill.
      35 Cold Spring Rd, Rocky Hill, CT 06067
      View Details
    • $69,000
      200 SF

      Furnished Office Suite Opportunity

      Turnkey, furnished private office suite with shared amenities for sale.
      35 Cold Spring Rd, Rocky Hill, CT 06067
      View Details
    • $199,000
      1,400 SF

      Turnkey Office Condo in Rocky Hill

      Fully furnished 1,400 sq ft office condo for sale.
      35 Cold Spring Rd, Rocky Hill, CT 06067
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Route 3 Development Opportunity

      Upcoming development on Route 3 for various commercial uses.
      856 Cromwell Ave, Rocky Hill, CT 06067
      View Details
    • Contact for pricing
      1,550 SF

      Rocky Hill Retail/Office Spaces

      Multiple retail and office spaces available in Rocky Hill.
      21-53 New Britain Ave, Rocky Hill, CT 06067
      View Details
    • $1,700 /Mo
      1,200 SF

      Retail/Office Space For Rent

      1200 SF retail/office space in high-traffic area.
      1840 Silas Deane Hwy, Rocky Hill, CT 06067
      View Details
    • $1.00 SF/Yr
      35,705 SF

      Versatile Commercial Building on Silas Deane

      35,705 SF commercial building with retail, warehouse, and office space.
      1930 Silas Deane Hwy, Rocky Hill, CT 06067
      View Details
    • Contact for pricing
      980 SF

      Rocky Hill Office Space Available

      Office space for rent near I-91 and Route 9.
      1080 Elm St, Rocky Hill, CT 06067
      View Details
    View Listing
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    581 Cromwell Ave
    Rocky Hill, CT 06067
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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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