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

    61 Spg St Willimantic, CT 06226-2545

    • Showrooms
    • 2,734 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Jun 25, 2020
    $150,000
    Value Estimations
    $155,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0769348
    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

    • Showrooms

    Property Details for 61 Spg St

    Year built
    1915
    Construction
    FRAME
    Lot size
    0.18 lot acres
    Property size
    2,734 SF
    Zone code
    NPR2
    Property type
    Showrooms
    APN
    WNDH M:13-03 B:052 L:17
    APU
    WNDHM1303B052L17

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $150,000
      ML approach
      $185,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $248,000
      Market price range: $146k - $328k
      AI Estimate
      $223,000
      Market price range: $138k - $311k

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

    Location Insight

    • Map
    • Local Demand
    City
    Willimantic
    County
    Windham
    State
    Connecticut
    Longitude
    -72.2132
    Latitude
    41.7151
    CBSA code
    49340
    CBSA name
    WORCESTER, MA-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
    $5,650
    $20,450
    $98,750
    $119,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $260,000
      380 SF

      36 Lafayette St

      SHOW ROOM, WAREHOUSE • 380 SF
      36 Lafayette St, Willimantic, CT 06226-2952
      View Details
    • Value Estimation
      $825,000
      104,500 SF

      560 Main St

      SHOW ROOM, WAREHOUSE • 104,500 SF
      560 Main St, Willimantic, CT 06226-2755
      View Details
    • Value Estimation
      $345,000
      3,389 SF

      120 Nn St

      SHOW ROOM, WAREHOUSE • 3,389 SF
      120 Nn St, Willimantic, CT 06226-2546
      View Details
    • Value Estimation
      $310,000
      3,680 SF

      2 Ann St

      SHOW ROOM, WAREHOUSE • 3,680 SF
      2 Ann St, Willimantic, CT 06226-2802
      View Details
    • Value Estimation
      $290,000
      3,639 SF

      26 Bellevue St

      SHOW ROOM, WAREHOUSE • 3,639 SF
      26 Bellevue St, Willimantic, CT 06226-2745
      View Details
    • Value Estimation
      $270,000
      1,850 SF

      58 Boston Post Rd

      SHOW ROOM, WAREHOUSE • 1,850 SF
      58 Boston Post Rd, Willimantic, CT 06226-2920
      View Details

    Similar Nearby for Sale

    • $4,500,000
      8,827 SF

      Windham Commercial Property with Gas

      Gas station, convenience store, smoke shop, and service bays.
      1071 Main St, Windham, CT 06226
      View Details
    • $375,000

      Mixed-Use Investment Property For Sale

      Mixed-use property with income streams and value-add potential.
      129 Valley St, Chestnut Hill, CT 06226
      View Details
    • $109,000

      Windham Commercial Space For Sale

      Flexible commercial space with functional area and beautiful details.
      361 S Windham Rd, Windham, CT 06226
      View Details
    • $500,000
      17,400 SF

      Prime Windham Commercial Property

      17,400 SF, Mixed-Use Potential
      872 Main St, Windham, CT 06226
      View Details
    • $449,000
      5,560 SF

      Windham Mixed-Use Investment Opportunity

      Downtown Windham, Two Buildings, High Potential
      948 Main St, Windham, CT 06226
      View Details
    • $300,000
      1,424 SF

      Retail Property in Willimantic, CT

      Retail property for sale in Willimantic, Connecticut.
      45 High St, Willimantic, CT 06226
      View Details

    Similar Nearby for Lease

    • $144 SF/Yr
      2,000 SF

      Retail Space in Willimantic, CT

      2000 SF retail space available for lease.
      21-25 Church St, Willimantic, CT 06226
      View Details
    • $12 SF/Yr

      Downtown Willimantic Retail/Office Space

      Retail or office space in vibrant downtown Willimantic.
      757 Main St, Windham, CT 06226
      View Details
    • $2,000 /Mo

      Renovated Retail/Office Space Available

      Renovated retail or office space with bright, open layout.
      21 Church St, Chestnut Hill, CT 06226
      View Details
    • $14 SF/Yr
      1,500 SF

      Retail Space Near University

      Retail space available in busy area near universities.
      1548 West Main St, Windham, CT 06226
      View Details
    • $18 SF/Yr
      4,912 SF

      Retail/Office Space on Route 32

      Retail and office spaces available near major retailers and universities.
      1681 West Main St, Windham, CT 06226
      View Details
    • $10 SF/Yr
      5,182 SF

      Downtown Willimantic Commercial Building

      Commercial building in downtown Willimantic, renovated for service-oriented organizations.
      54 North St, Chestnut Hill, CT 06226
      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.
    61 Spg St
    Willimantic, CT 06226-2545
    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.