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    841 Route 32 Franklin, CT 06254
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    Property profile & analytics

    841 Route 32, Franklin, CT 06254

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    • Commercial real estate
    • 5.62 lot acres
    For Lease
    $14 SF/Yr
    View Listing →
    Commercial Building with Warehouse Space For Lease
    $14 SF/Yr
    4,650 SF

    Commercial Building with Warehouse Space

    Commercial building featuring office and warehouse space for lease.

    841 Route 32, Franklin, CT 6254
    View Listing
    Property ID
    US15-0586862
    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
    $1,530,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 841 Route 32

    Lot size
    5.62 lot acres
    Zone code
    C-2
    Property type
    Commercial real estate
    APN
    FRAN M:09 B:14
    APU
    FRANM09B14

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 3, 2022 $1,600,000 All Purpose Industrial Hilltop Realty LLC Warranty Deed $1.2M · Dime Bank
    Mar 26, 2007 — Hilltop Realty LLC — Deed Of Trust · related $1.3M · Savings Institute
    Mar 30, 2000 — Hilltop Realty LLC — Deed Of Trust · related $20k · Chelseagroton Savings Bank
    Oct 7, 1999 $90,000 Hilltop Rlty LLC Brault,robert A Warranty Deed $72k · Chelseagroton Savings Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,465,000
      ML approach
      $1,445,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Franklin
    County
    New London
    State
    Connecticut
    Longitude
    -72.1598
    Latitude
    41.6439
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, 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
    $20,505
    $127,100
    $765,580
    $892,680
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,265,000
      34,150 SF

      50 Rte 32

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    • Value Estimation
      $690,000
      2,888 SF

      264 Rte 32

      COMMERCIAL (GENERAL)
      264 Rte 32, North Franklin, CT 06254-1419
      View Details
    • Value Estimation by Request
      7,200 SF

      20 Murphy Rd

      SHOW ROOM, WAREHOUSE
      20 Murphy Rd, North Franklin, CT 06254-1805
      View Details
    • Value Estimation by Request
      8.25 Acres

      795 Rte 32

      COMMERCIAL (GENERAL)
      795 Rte 32, North Franklin, CT 06254-1119
      View Details
    • Value Estimation by Request
      3,280 SF

      214 Rte 32

      SHOW ROOM, WAREHOUSE
      214 Rte 32, North Franklin, CT 06254-1813
      View Details
    • Value Estimation by Request
      51.00 Acres

      117 Pond Rd

      COMMERCIAL (GENERAL)
      117 Pond Rd, North Franklin, CT 06254-1224
      View Details

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      87 Acres Commercial/Industrial Land

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      135 Route 32, North Franklin, CT 06254
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    • $950,000
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      532 Pond Road

      Shovel Ready! 25+/- acres approved 93,843 SF
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    Similar Nearby for Lease

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      Franklin Industrial Building Sublease

      20,400 SF industrial building available for sublease.
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      900 SF

      Retail Space Available For Rent

      900 SF retail space for rent in Franklin, CT.
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      4,650 SF

      Commercial Building with Warehouse Space

      Commercial building featuring office and warehouse space for lease.
      841 Route 32, Franklin, CT 06254
      View Details
    • Contact for pricing
      1,900 SF

      North Franklin Flex/Industrial Space

      Flex/industrial space available for lease in North Franklin, CT.
      102 Route 32, North Franklin, CT 06254
      View Details
    • New
      Contact for pricing
      20,400 SF

      Single-Tenant Industrial Building with Dock

      Industrial facility offering 22’ clear height, dock loading, and multiple drive-in doors for flexible storage and distribution needs.
      122 Route 32, North Franklin, CT 06254
      View Details
    View Listing
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    Franklin, CT 06254
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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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    841 Route 32, Franklin, CT, 06254
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