Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    590 Washington St Middletown, CT 06457-2513
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    590 Washington St Middletown, CT 06457-2513

    View on Map
    • Showrooms
    • 12,254 SF
    • 1.21 lot acres
    Off-Market
    Property ID
    US15-1267939
    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
    $1,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Electric Vehicle Charging Station / Electric Vehicle Charging Station
    • Victor Auto Body Works / Auto Repair Shop
    • Rook Enterprises Inc / Auto Repair Shop

    Property Details for 590 Washington St

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.21 lot acres
    Property size
    12,254 SF
    Zone code
    B-2
    Property type
    Showrooms
    APN
    MTWN M:23 L:0047
    APU
    MTWNM23L0047

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,281,000
      Market price range: $949k - $1.90M
      AI Estimate
      $1,117,000
      Market price range: $585k - $1.76M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,355,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,300,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6717
    Latitude
    41.5556
    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
    $33,000
    $389,620
    $550,540
    $940,160
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $19,355,000
      129,626 SF

      930 Middle St

      SHOW ROOM, WAREHOUSE • 129,626 SF
      930 Middle St, Middletown, CT 06457-1533
      View Details
    • Value Estimation
      $2,815,000
      18,860 SF

      815 Newfield St

      SHOW ROOM, WAREHOUSE • 18,860 SF
      815 Newfield St, Middletown, CT 06457-1815
      View Details
    • Value Estimation
      $11,615,000
      77,786 SF

      645 Saybrook Rd

      SHOW ROOM, WAREHOUSE • 77,786 SF
      645 Saybrook Rd, Middletown, CT 06457-4746
      View Details
    • Value Estimation
      $2,735,000
      55,455 SF

      30 Boston Rd

      SHOW ROOM, WAREHOUSE • 55,455 SF
      30 Boston Rd, Middletown, CT 06457-3543
      View Details
    • Value Estimation
      $2,440,000
      25,840 SF

      750 Newfield St

      SHOW ROOM, WAREHOUSE • 25,840 SF
      750 Newfield St, Middletown, CT 06457-1869
      View Details
    • Value Estimation by Request
      1,820 SF

      619 Saybrook Rd

      SHOW ROOM, WAREHOUSE • 1,820 SF
      619 Saybrook Rd, Middletown, CT 06457-4718
      View Details

    Similar Nearby for Sale

    • $399,900
      1,482 SF

      Retail Building on Main Street

      1482 SF retail building in high-traffic Middletown location.
      346 Main Street Ext, Middletown, CT 06457
      View Details
    • $1,450,000
      13,837 SF

      Mixed-Use Building in Middletown

      Ten-unit mixed-use property with commercial and residential spaces.
      480 Main Street Ext, Middletown, CT 06457
      View Details
    • $975,000

      Restored Mixed-Use Landmark Building

      Versatile investment opportunity in Middletown's vibrant Main Street.
      504 Main Street Ext, Middletown, CT 06457
      View Details
    • $399,900
      1,482 SF

      Retail Building on Main Street

      Retail building in high-traffic area, suitable for various businesses.
      346 Main Street Ext, Middletown, CT 06457
      View Details
    • $724,900
      9,301 SF

      Middletown Industrial Condo - For Sale

      Spacious Industrial Condo, Prime Location
      362 Industrial Park Rd, Middletown, CT 06457
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      8,400 SF

      Prime Retail Space in Middletown

      Custom build-outs available in downtown Middletown's trendy NoRa neighborhood.
      725 Main Street Ext, Middletown, CT 06457
      View Details
    • Contact for pricing
      2,400 SF

      Community Shopping Center Retail Space

      Retail space available in a busy community shopping center.
      814-858 Washington St, Middletown, CT 06457
      View Details
    • Contact for pricing
      470 SF

      Retail Space on Main Street

      Retail space for rent with high foot traffic.
      578 Main St, Middletown, CT 06457
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space on Main Street

      Retail space available for rent in Middletown, CT.
      170 Main St, Middletown, CT 06457
      View Details
    • Contact for pricing
      750 SF

      Retail Space in Middletown, CT

      750 SF retail space available for lease.
      62-72 Washington St, Middletown, CT 06457
      View Details
    • $23 SF/Yr
      771 SF

      Retail/Office Space in Macky Plaza

      771 SF retail/office space with private restroom and entrance.
      134 Main Street Ext, Middletown, CT 06457
      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.
    590 Washington St
    Middletown, CT 06457-2513
    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.
    Sign Up Successful!
    You now have access to more from Realmo!