Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    700 West Johnson Ave Cheshire, CT 06410
    Back to Search
    Property profile & analytics

    700 West Johnson Ave, Cheshire, CT 06410

    View on Map
    • Office buildings
    • 39,329 SF
    • 5.88 lot acres
    For Lease
    $1,570,000
    View Listing →
    Cheshire Office Space Available For Lease
    $1,570,000
    36,000 SF

    Cheshire Office Space Available

    36,000 sqft office space for rent in Cheshire, CT.

    700 West Johnson Avenue, Cheshire, CT 6410
    View Listing
    Property ID
    US15-0280285
    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
    $1,570,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Schmitt Geralyn / Law Firm
    • Benefits Group / Insurance Agency
    • Legacy Studios Northeast / (Bike/Boat/Book/etc) Store / Photography Service
    • Unison Health Services Inc / Home Health Care Service

    Property Details for 700 West Johnson Ave

    Year built
    1990
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.88 lot acres
    Zone code
    I-2
    Property type
    Office buildings
    APN
    CHES M:2 B:10 L:
    APU
    CHESM2B10L

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 24, 2024 — 700 West Johnson LLC Miodrag Delmic Quit Claim Deed · related —
    Jun 23, 2023 $1,570,750 Miodrag Delmic Westgate Prop Mgmt LLC Warranty Deed —
    Jul 16, 2007 $4,800,000 Westgate Office Propertie Westgate Office Center Warranty Deed $3.8M · Zions First National Bank

    Description

    This prestigious three-story Class A office building, located at 700 West Johnson Avenue in Cheshire, Connecticut (06410), offers a variety of executive office suites for lease. The 36,000 square foot building sits on a 5.88-acre lot and is conveniently situated off I-84 and I-691, providing easy access to I-91. Multiple tenancies are available, ranging from a minimum of 445 square feet to a maximum contiguous space of 7,233 square feet. Currently, 23,062 square feet of space is vacant. Available spaces include first-floor options of 5,000 and 1,000 square feet

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,570,000
      ML approach
      $1,570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,067,000
      Market price range: $2.07M - $6.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheshire
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9173
    Latitude
    41.5585
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, 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
    $49,126
    $282,110
    $1,117,890
    $1,400,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,740,000
      57,544 SF

      189 Commerce Ct

      OFFICE BUILDING
      189 Commerce Ct, Cheshire, CT 06410-1253
      View Details
    • Value Estimation
      $4,610,000
      48,636 SF

      1781 Highland Ave

      OFFICE BUILDING
      1781 Highland Ave, Cheshire, CT 06410-1254
      View Details
    • Value Estimation
      $885,000
      7,337 SF

      435 Highland Ave

      OFFICE BUILDING
      435 Highland Ave, Cheshire, CT 06410-2583
      View Details
    • Value Estimation
      $990,000
      6,362 SF

      415 Highland Ave

      OFFICE BUILDING
      415 Highland Ave, Cheshire, CT 06410-2555
      View Details
    • Value Estimation
      $750,000
      1,553 SF

      1973 Highland Ave

      OFFICE BUILDING
      1973 Highland Ave, Cheshire, CT 06410-1219
      View Details
    • Value Estimation
      $1,270,000
      8,170 SF

      30 Realty Dr

      OFFICE BUILDING
      30 Realty Dr, Cheshire, CT 06410-1655
      View Details

    Similar Nearby for Sale

    • $1,240,000
      4,412 SF

      Prime Commercial Property on Route 70

      4,500 sq ft building on Route 70 for sale.
      460 West Main St, Cheshire, CT 06410
      View Details
    • Contact for pricing
      220 SF

      Multi-Use Building in Cheshire Center

      Multi-use building with retail and office space in Cheshire.
      114 South Main St, Cheshire, CT 06410
      View Details
    • Contact for pricing
      444 SF

      Accessible Office Space in Cheshire

      First-floor office space in a professional building, Cheshire, CT.
      350 South Main St, Cheshire, CT 06410
      View Details
    • $499,900
      4,347 SF

      Versatile Office Condo with Warehouse

      Class A office condo with warehouse space and mezzanine.
      1486 Highland Ave, Cheshire, CT 06410
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      4,182 SF

      Cheshire Office/Medical Space Available

      Two-story office/medical building with ample parking and convenient highway access.
      1781 Highland Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building with suites available for lease.
      1154 Highland Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing

      Office and Medical Suites in Park

      Multi-suite office park offers flexible small-to-mid medical and professional spaces with ample parking near town amenities.
      408 Highland Ave, Cheshire, CT 06410
      View Details
    • Contact for pricing
      20,000 SF

      Renovated High-Tech Manufacturing Facility

      174,000 SF renovated manufacturing facility with expansion potential.
      350 Knotter Dr, Cheshire, CT 06410
      View Details
    • $1,900 /Mo
      1,500 SF

      Office Space Available For Rent

      Office unit available for lease, approximately 1500 square feet.
      680 South Main St, Cheshire, CT 06410
      View Details
    View Listing
    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.
    700 West Johnson Ave
    Cheshire, CT 06410
    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

    Thank You for Inquiry
    700 West Johnson Ave, Cheshire, CT, 06410
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!