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

    588 Monroe Tpke Monroe, CT 06468-2363

    • Showrooms
    • 8,144 SF
    • 2.32 lot acres
    OFF-MARKET
    Last Sale
    Sep 14, 2021
    $825,000
    Value Estimations
    $1,035,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0823950
    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

    • Bailey Tuthill at Guaranteed Rate Affinity (NMLS #1600158) / Mortgage Lender / Mortgage Broker
    • Nick Jones Real Estate Agent / Real Estate Agent
    • Christopher W Johnson at Guaranteed Rate Affinity (NMLS #409860) / Mortgage Lender / Mortgage Broker
    • MDCreds / Business Administration Service
    • Chuck Threshie - VP, Sr. Mortgage Banker at Total Mortgage / Mortgage Lender

    Property Details for 588 Monroe Tpke

    Year built
    1988
    Construction
    FRAME
    Lot size
    2.32 lot acres
    Property size
    8,144 SF
    Zone code
    B1
    Property type
    Showrooms
    APN
    MONR M:051 B:003 L:00
    APU
    MONRM051B003L00

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,030,000
      ML approach
      $1,095,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,494,000
      Market price range: $833k - $3.23M
      AI Estimate
      $626,000
      Market price range: $426k - $1.46M

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2114
    Latitude
    41.3214
    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
    $25,226
    $168,500
    $503,300
    $671,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $510,000
      14,132 SF

      721 Main St

      SHOW ROOM, WAREHOUSE • 14,132 SF
      721 Main St, Monroe, CT 06468-2810
      View Details
    • Value Estimation
      $755,000
      24,688 SF

      380 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 24,688 SF
      380 Monroe Tpke, Monroe, CT 06468-2279
      View Details
    • Value Estimation
      $1,900,000
      3,315 SF

      145 Main St

      SHOW ROOM, WAREHOUSE • 3,315 SF
      145 Main St, Monroe, CT 06468
      View Details
    • Value Estimation
      $735,000
      22,612 SF

      500 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 22,612 SF
      500 Monroe Tpke, Monroe, CT 06468-2354
      View Details
    • Value Estimation
      $410,000
      7,567 SF

      315 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 7,567 SF
      315 Monroe Tpke, Monroe, CT 06468-2201
      View Details
    • Value Estimation
      $490,000
      2,981 SF

      390 Monroe Tpke

      SHOW ROOM, WAREHOUSE • 2,981 SF
      390 Monroe Tpke, Monroe, CT 06468-2245
      View Details

    Similar Nearby for Sale

    • $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
    • $2,734,800
      7,500 SF

      Retail Property on Main Street

      Retail property available for sale on Main Street.
      656 Main St, Monroe, CT 06468
      View Details
    • $4,900,000
      5,300 SF

      Retail Property in Monroe, CT

      Retail property available for sale in Monroe, Connecticut.
      143 Purdy Hill Rd, Monroe, CT 06468
      View Details
    • $4,900,000
      5,300 SF

      Triple-Net Lease Restaurant Portfolio

      High-Income CT Location, 14+ Years Remaining
      143 Purdy Hill Rd, Monroe, CT 06468
      View Details
    • Contact for pricing
      4,166 SF

      Main Street Restaurant and Apartments

      Restaurant with apartments for sale on Main Street.
      171 Main St, Monroe, CT 06468
      View Details

    Similar Nearby for Lease

    • $3,200 /Mo
      1,416 SF

      Monroe Retail Space For Lease

      Retail space with side yard display area in Monroe, CT.
      391 Main St, Monroe, CT 06468
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Ideal for Bank

      Retail space suitable for bank pad or light office.
      255 Monroe Tpke, 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
    • Contact for pricing
      1,243 SF

      Retail and Office Space Available

      Retail and office spaces in a multi-building shopping center.
      477 Main St, Monroe, CT 06468
      View Details
    • $1,000 /Mo
      650 SF

      Retail Space in Active Center

      Prime retail space available for lease in active Stepney center.
      446 Main St, Monroe, CT 06468
      View Details
    • $18 SF/Yr
      1,317 SF

      Retail Space in Elm Street Plaza

      End-cap retail unit in a busy plaza available for rent.
      292 Elm St, 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.
    588 Monroe Tpke
    Monroe, CT 06468-2363
    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.