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Property profile & analytics
FOR LEASE
Office buildings
700 West Johnson Ave Cheshire, CT 06410
Entity Owned
2-yr Hold
Free & Clear
Property ID
US15-0280285
For Lease
1 / 9
$1,570,000
700 West Johnson Ave, Cheshire, CT 06410
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Property summary
AI-generated overview
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
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
39,329 SF
Lot
5.88 ac (256,133 SF)
Zoning code
I-2
APN
CHES M:2 B:10 L:
UPID
US15-0280285
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.57M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$1.57M
Owner & transaction history
700 West Johnson LLC · 2 yrs held
700 West Johnson LLC
since 2024
Last sale
$1.6M
3 recorded transactions
Zoning & alternative use
I-2 · Cheshire, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Cheshire submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cheshire 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
$1,570,000
ML approach
$1,570,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.57M
Range $1.41M – $1.73M · ±10% · vs last sale $1.57M (Apr 24 2024)
Last sale anchor
$1.57M
Apr 24 2024
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
$40 / 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
$49,126
Tax year 2023
Assessed value
$1,400,000
Assessed 2023
Previous assessed
$1,400,000
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$282,110
Assessed improvement
$1,117,890
Applied tax rate
322.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
1
Bathrooms
1
Total area
39,329 SF
Lot
5.88 ac (256,133 SF)
Zoning code
I-2
APN
CHES M:2 B:10 L:
UPID
US15-0280285
Jurisdiction
CHESHIRE
Zoning & alternative use
I-2 · Cheshire, CT
Zoning I-2 · permitted uses
I-2 · Cheshire, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cheshire. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
1
Bathrooms
1
Lot
5.88 ac
Current owner
From public records · entity-resolved
700 West Johnson LLC
Entity
Free & Clear · 2 yrs held
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
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
$3,800,000 · Zions First National 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.
Try Rey
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