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Property profile & analytics
FOR LEASE
Medical Office Space
599 Farmington Ave Farmington, CT 06032
Individually Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-1219470
For Lease
1 / 8
$2,525,000
599 Farmington Ave, Farmington, CT 06032
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2018
Total area
50,431 SF
Lot
2.75 ac (119,790 SF)
Zoning code
MOC
APN
FARM M:0093 B:3 L:3C
UPID
US15-1219470
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Carol Erickson, APRN Registered General Nurse
-
Teresa Domack Pediatrician Physician
-
Dr. Hyoungsup Park Pediatrician Physician
-
Ms. Monika Fuller Pediatrician Physician
-
ProHealth Physicians of Unionville Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.53M
Owner & transaction history
599 Farmington Avenue · 7 yrs held
599 Farmington Avenue
since 2018
1 recorded transaction
Zoning & alternative use
MOC · Farmington, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Intent of this to promote Medical Office Campus Uses
Zone name
Medical Office Campus
General category
UNKNOWN
Zone area
38.68 ac
Source
Realmo
Top alternative use upside
Retail stores
$4.2M
+51.0%
Apartment house (5+ units)
$4.1M
+49.7%
Office building
$4.1M
+48.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Farmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,765,000
Current use
RETAIL STORES
$4,175,000
Change: +51% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,140,000
Change: +50% · Conversion: Moderate
OFFICE BUILDING
$4,110,000
Change: +49% · Conversion: Easy
Blend value · Realmo final
$2.53M
Range $2.27M – $2.78M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$50 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$176,103
Tax year 2023
Assessed value
$7,273,980
Assessed 2023
Previous assessed
$7,273,980
+0.0% YoY
Effective rate
2.42%
On assessed value
Assessed land
$592,900
Assessed improvement
$6,681,080
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
2018
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Total area
50,431 SF
Lot
2.75 ac (119,790 SF)
Zoning code
MOC
APN
FARM M:0093 B:3 L:3C
UPID
US15-1219470
Jurisdiction
FARMINGTON
Zoning & alternative use
MOC · Farmington, CTZoning MOC · permitted uses
MOC · Farmington, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Intent of this to promote Medical Office Campus Uses
Zone name
Medical Office Campus
General category
UNKNOWN
Zone area
38.68 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.8M
RETAIL STORES
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.1M
OFFICE BUILDING
Est. value
$4.1M
MEDICAL BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Lot
2.75 ac
Current owner
From public records · entity-resolved
599 Farmington Avenue
Individual
Mailing address
6 EXECUTIVE DR STE #100, FARMINGTON, CT 06032-2853
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2018
—
599 Farmington Avenue
—
Deed
related
$14,500,000 · Webster Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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