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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    62 Providence Pike Putnam, CT 06260-2412

    • Commercial real estate
    • 31,000 SF
    OFF-MARKET
    Last Sale
    Nov 17, 2023
    Value Estimations
    $2,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0011590
    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

    • Anytime Fitness / Gym & Fitness Center
    • Autism Learning Partners Putnam / Crisis Center / Medical Clinic
    • Elle Nail Salon / Nail Salon
    • Stop & Shop Gasoline / Gas Station
    • Quest Diagnostics / Medical Clinic

    Property Details for 62 Providence Pike

    Year built
    1997
    Property size
    31,000 SF
    Property type
    Commercial real estate
    APN
    PUTN M:026 L:007 U:002
    APU
    PUTNM026L007U002

    Description

    The Shoppes at Putnam, located at 62 Providence Pike in Putnam, Connecticut (zip code 06260), offers exceptional retail leasing opportunities. This property boasts a total of 4,067 square feet situated on a 2-acre lot in Windham County. Currently, the entire space is vacant, presenting a unique chance for a single tenant to occupy the entire building or for two separate tenants to lease individual units. The minimum leasable space is 1,767 square feet, while the maximum contiguous space available is 2,300 square feet. This versatile property is ideal for a variety of retail businesses seeking high visibility and convenient access. The property's location on Providence Pike ensures excellent exposure to a steady stream of traffic. The building's classification is commercial retail with multiple tenancy. Interested parties should note the property's latitude and longitude coordinates are 41.9268568 and -71.8761252 respectively. This presents a rare opportunity to establish a strong retail presence in a desirable location. Contact us today to learn more about this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,479,000
      Market price range: $1.11M - $3.47M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,120,000
      Current use
      RETAIL STORES
      $3,135,000
      Change: +1% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,710,000
      Change: -13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Putnam
    County
    Windham
    State
    Connecticut
    Longitude
    -71.8743
    Latitude
    41.9254
    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
    2024
    $53,242
    $0.00
    $2,101,100
    $2,101,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,465,000
      28,990 SF

      600 Liberty Hwy

      SHOW ROOM, WAREHOUSE • 28,990 SF
      600 Liberty Hwy, Putnam, CT 06260-2503
      View Details
    • Value Estimation
      $4,105,000
      31,860 SF

      97 Providence Pike

      SHOW ROOM, WAREHOUSE • 31,860 SF
      97 Providence Pike, Putnam, CT 06260-2414
      View Details
    • Value Estimation
      $585,000
      5,060 SF

      644 School St

      SHOW ROOM, WAREHOUSE • 5,060 SF
      644 School St, Putnam, CT 06260-2403
      View Details
    • Value Estimation by Request
      1,133 SF

      346 Pomfret St Ste, Unit 2

      COMMERCIAL CONDOMINUIM • 1,133 SF
      346 Pomfret St Ste, Putnam, CT 06260-1871
      View Details
    • Value Estimation by Request
      2,994 SF

      50th Canal St

      SHOW ROOM, WAREHOUSE • 2,994 SF
      50th Canal St, Putnam, CT 06260-1910
      View Details
    • Value Estimation by Request
      9,052 SF

      225 Kennedy Dr

      SHOW ROOM, WAREHOUSE • 9,052 SF
      225 Kennedy Dr, Putnam, CT 06260-1662
      View Details

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      Prime Putnam Commercial Property

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      Specialty Property For Sale

      Specialty property available for purchase.
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    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space Near Interstate-395

      Retail space with high visibility and ample parking available for rent.
      97 Providence Pike, Putnam, CT 06260
      View Details
    • $144 SF/Yr
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      Prime Putnam Office Space Available

      1,500 SF Office Suite in Excellent Location
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    • Contact for pricing
      43,560 SF

      Prime Putnam, CT Pad Site

      1-Acre Commercial Land, I-395 Access
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      View Details
    • $12 SF/Yr
      6,720 SF

      Retail Space in Putnam Center

      Price Chopper anchored shopping center in Putnam, Connecticut.
      253-263 Kennedy Dr, Putnam, CT 06260
      View Details
    • $13 SF/Yr
      10,834 SF

      Downtown Putnam Commercial Building For Lease

      Single-level commercial building in downtown Putnam with renovation in 2011.
      6 S Main St, Putnam, CT 06260
      View Details
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    Putnam, CT 06260-2412
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    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
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