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    Property profile & analytics

    598 Washington St Middletown, CT 06457

    • Investment properties
    • 0.20 lot acres
    For Lease
    View listing
    $70,000
    Value Estimation
    $375,000
    Last Sale
    Apr 11, 2023
    $350,000
    Location Intelligence
    Property ID
    US15-1301514
    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

    • Bridge / Manufacturer / Health

    Property Details for 598 Washington St

    Lot size
    0.20 lot acres
    Zone code
    B-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    MTWN M:23 L:0050
    APU
    MTWNM23L0050

    Description

    This exceptional 0.43-acre commercial land parcel, situated at 598 Washington Street in Middletown, Connecticut (zip code 06457), presents a remarkable investment opportunity. Located at a signalized intersection of Washington Street and Bernie O’Rourke/West Street, this property boasts exceptional visibility and accessibility, benefiting from a substantial daily traffic count of 24,500 vehicles. The site is serviced by city water, gas, and sewer, providing essential utilities for development. A proposed QSR drive-thru pad adds significant potential for future development. The property's strategic location is further enhanced by its proximity to a variety of established businesses, including Home Depot, Starbucks, Aldi, Price Chopper, CVS, and Chipotle Mexican Grill, ensuring high foot traffic and consumer visibility. The land is available for lease at an annual rate of $60,000. There is also a possibility of expanding the property to 0.55 acres for an additional cost. This property is zoned for commercial use within Middlesex County. Serious inquiries are encouraged to explore this promising opportunity.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $385,000

    • CAP approach

      CAP return
      Estimation
      6%
      $375,000
      6.5%
      $335,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $305,000
      Geo Method
      $370,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $375,000
      Retail
      $330,000
      Mixed-Use
      $345,000
      Hospitality
      $360,000
      Educational
      $350,000
      Residential Income
      $365,000
      Energy
      $285,000
      Income-Based Land
      $305,000
      Food Service
      $270,000

    Location Insight

    • Map
    • Local Demand
    City
    Middletown
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.6727
    Latitude
    41.5554
    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
    $9,570
    $177,100
    $95,550
    $272,650
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $110,000
      0.54 Acres

      730 Ee St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.54 Acres
      730 Ee St, Middletown, CT 06457-1738
      View Details
    • Value Estimation
      $665,000
      7,193 SF

      138 Washington St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,193 SF
      138 Washington St, Middletown, CT 06457-2830
      View Details
    • Value Estimation
      $125,000
      3,642 SF

      141 Brg St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,642 SF
      141 Brg St, Middletown, CT 06457-2251
      View Details
    • Value Estimation by Request
      19,959 SF

      489 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 19,959 SF
      489 Main St, Middletown, CT 06457-2847
      View Details
    • Value Estimation
      $340,000
      2,730 SF

      455 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,730 SF
      455 Main St, Middletown, CT 06457-4506
      View Details
    • Value Estimation
      $265,000
      2,352 SF

      131 Main St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,352 SF
      131 Main St, Middletown, CT 06457
      View Details

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    598 Washington St
    Middletown, CT 06457
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    Realmo Value Estimation

    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.

    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.

    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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