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    707 Main St Monroe, CT 06468-2810
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    Property profile & analytics

    707 Main St, Monroe, CT 06468-2810

    View on Map
    • Showrooms
    • 11,061 SF
    • 2.40 lot acres
    Off-Market
    Last Sale Mar 30, 2023
    $1,500,000
    Property ID
    US15-0099043
    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
    $1,500,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fairfield Auction / Trade Show Venue / (Bike/Boat/Book/etc) Store

    Property Details for 707 Main St

    Year built
    2000
    Construction
    FRAME
    Lot size
    2.40 lot acres
    Zone code
    B1
    Property type
    Showrooms
    APN
    MONR M:082 B:038 L:00
    APU
    MONRM082B038L00

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 30, 2023 $1,500,000 Jih Rong Temple Corp 707 Properties LLC Warranty Deed —
    Jan 20, 2011 — 707 Props LLC — Deed Of Trust · related $1.2M · Newtown Savings Bank
    Dec 10, 2010 $1,500,000 707 Prop LLC Us Bk Warranty Deed —
    Aug 4, 2010 — Us Bk Les Monroe Restauran LLC One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds —
    Feb 21, 2007 — L&s Monroe Restaurant LLC — Deed Of Trust · related $1.9M · Greenpoint Mortgage Funding
    Dec 18, 2000 — L Mngt — Deed Of Trust · related $612k · Housatonic Ind Dev
    Sep 11, 2000 — L Mngt — Deed Of Trust · related $968k · First County Bank
    Aug 10, 1999 — L & S Monroe Rest Mgt — Deed Of Trust · related $850k · First County Bank
    Oct 9, 1998 $550,000 L&s Rest Mgmt LLC Sandolo,ralph Tr Grant Deed —
    Jul 28, 1988 $450,000 Sandolo,ralph Tr Dinardo,holly Grant Deed —

    Description

    This exceptional 11,000-square-foot free-standing building, constructed in 2000, presents a unique investment opportunity in Monroe, Connecticut. Situated on Main Street (Route 25) in Fairfield County, this two-story structure boasts a prominent location with high visibility. The main level encompasses 9,857 square feet, while the second floor offers an additional 1,204 square feet. An unfinished basement of 1,182 square feet and a 550-square-foot outdoor patio further enhance the property's versatility. Ample parking is provided with 126 spaces. The asking price is $1,999,000, translating to $181.73 per square foot. Annual property taxes are $34,321. The building's adaptable design lends itself to a variety of uses, including, but not limited to, religious services, catering, restaurant operations, wedding venues, or funeral homes. This property offers significant potential for a discerning buyer seeking a substantial and well-located building in a thriving Connecticut community. The zip code is 06468.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,470,000
      ML approach
      $1,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,033,000
      Market price range: $1.13M - $4.38M

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

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2632
    Latitude
    41.3401
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, 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
    $34,321
    $495,600
    $418,400
    $914,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $935,000
      14,132 SF

      721 Main St

      SHOW ROOM, WAREHOUSE
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    • Value Estimation
      $1,350,000
      24,688 SF

      380 Monroe Tpke

      SHOW ROOM, WAREHOUSE
      380 Monroe Tpke, Monroe, CT 06468-2279
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    • Value Estimation
      $1,925,000
      3,315 SF

      145 Main St

      SHOW ROOM, WAREHOUSE
      145 Main St, Monroe, CT 06468
      View Details
    • Value Estimation
      $1,175,000
      22,612 SF

      500 Monroe Tpke

      SHOW ROOM, WAREHOUSE
      500 Monroe Tpke, Monroe, CT 06468-2354
      View Details
    • Value Estimation
      $765,000
      7,567 SF

      315 Monroe Tpke

      SHOW ROOM, WAREHOUSE
      315 Monroe Tpke, Monroe, CT 06468-2201
      View Details
    • Value Estimation
      $510,000
      2,981 SF

      390 Monroe Tpke

      SHOW ROOM, WAREHOUSE
      390 Monroe Tpke, Monroe, CT 06468-2245
      View Details

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    Monroe, CT 06468-2810
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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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