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    Property profile & analytics

    95 Kitts Ln Newington, CT 06111-3954

    • Retail space
    • 2,900 SF
    • 0.66 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2021
    $295,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0391713
    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

    • Providers Nutrition Network Inc / Social Service Agency / Charitable Organization
    • Modern Roofing / Roofing Company / General Contractor

    Property Details for 95 Kitts Ln

    Year built
    1987
    Construction
    FRAME
    Lot size
    0.66 lot acres
    Property size
    2,900 SF
    Zone code
    B-BT
    Property type
    Retail space
    APN
    NEWI M:17 B:163 L:0
    APU
    NEWIM17B163L0

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Newington
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7106
    Latitude
    41.6844
    CBSA code
    25540
    CBSA name
    HARTFORD-WEST HARTFORD-EAST HARTFORD, 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
    $8,175
    $112,000
    $101,100
    $213,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,815,000
      45,708 SF

      3127 Berlin Tpke, Unit 3137

      RETAIL STORES (PERSONAL SERVICES) • 45,708 SF
      3127 Berlin Tpke, Newington, CT 06111-4620
      View Details
    • Value Estimation
      $1,800,000
      12,820 SF

      28 Garfield St

      RETAIL STORES (PERSONAL SERVICES) • 12,820 SF
      28 Garfield St, Newington, CT 06111-2833
      View Details
    • Value Estimation
      $640,000
      4,995 SF

      3243 Berlin Tpke

      RETAIL STORES (PERSONAL SERVICES) • 4,995 SF
      3243 Berlin Tpke, Newington, CT 06111-5101
      View Details
    • Value Estimation by Request
      7,381 SF

      734-736 New Britain Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,381 SF
      734-736 New Britain Ave, Newington, CT 06111
      View Details
    • Value Estimation
      $825,000
      21,852 SF

      95 Fenn Rd, Unit 127

      RETAIL STORES (PERSONAL SERVICES) • 21,852 SF
      95 Fenn Rd, Newington, CT 06111-2213
      View Details
    • Value Estimation by Request
      1,090 SF

      1088 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,090 SF
      1088 Main St, Newington, CT 06111-2908
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Retail Building Near Berlin Turnpike

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      139,780 SF

      Mixed-Use Flex/Industrial Warehouse & Retail

      139,780 SF mixed-use flex/industrial warehouse & retail property.
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    • $850,000
      2,840 SF

      Adaptable Commercial Space in Newington

      Well-located commercial property with flexible layout and ample parking.
      85 Kitts Ln, Newington, CT 06111
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      10,000 SF

      Newington, CT Retail NNN Asset

      10,000 SF NNN leased to The Learning Experience.
      395 Willard Ave, Newington, CT 06111
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    • Contact for pricing
      3.22 Acres

      Prime Newington Retail Land

      3.22 Acres, High-Traffic Location
      2640 Berlin Tpke, Newington, CT 06111
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      3,000 SF

      Newington Flex Space Available

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    • Contact for pricing
      3,692 SF

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      Retail space with high visibility and ample parking.
      2303-2315 Berlin Tpke, Newington, CT 06111
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      2,800 SF

      Retail Space on Berlin Turnpike

      Retail space available for sublease in high-traffic area.
      3219-3221 Berlin Tpke, Newington, CT 06111
      View Details
    • Contact for pricing
      39,239 SF

      Community Center Retail Space Available

      148,000 SF community center with ample parking.
      3105-3119 Berlin Tpke, Newington, CT 06111
      View Details
    • Contact for pricing
      2,731 SF

      Retail Space on Berlin Turnpike

      Retail space in high-traffic Newington location near CCSU.
      2993-3005 Berlin Tpke, Newington, CT 06111
      View Details
    • Contact for pricing
      3,296 SF

      Retail Space in Newington Center

      Retail space available in new mixed-use development near Hartford.
      3323 Berlin Tpke, Newington, CT 06111
      View Details
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    95 Kitts Ln
    Newington, CT 06111-3954
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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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