Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    970 Colony Rd Ste, Unit 7 Wallingford, CT 06492-5900

    • Commercial real estate
    • 6,790 SF
    • 0.46 lot acres
    OFF-MARKET
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0911382
    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

    • Commercial real estate

    Property Details for 970 Colony Rd Ste

    Year built
    2005
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.46 lot acres
    Property size
    6,790 SF
    Property type
    Commercial real estate
    APN
    WALL M:051 L:003-7
    APU
    WALLM051L0037

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $949,000
      Market price range: $481k - $950k
      AI Estimate
      $760,000
      Market price range: $232k - $760k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $670,000
      Current use
      RESTAURANT
      $995,000
      Change: +48% Conversion: Difficult
      RETAIL STORES
      $735,000
      Change: +10% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $710,000
      Change: +6% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $615,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Wallingford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8092
    Latitude
    41.487
    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
    $22,604
    $0.00
    $770,400
    $770,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,600 SF

      892 Colony Rd

      Land • 3,600 SF
      892 Colony Rd, Wallingford, CT 06492
      View Details
    • Value Estimation by Request
      0.27 Acres

      1st St

      SHOW ROOM, WAREHOUSE • 0.27 Acres
      1st St, Wallingford, CT 06492
      View Details
    • Value Estimation by Request
      0.14 Acres

      413 Main St

      SHOW ROOM, WAREHOUSE • 0.14 Acres
      413 Main St, Wallingford, CT 06492-2262
      View Details
    • Value Estimation by Request
      9.84 Acres

      241 Main St, Unit 303

      SHOW ROOM, WAREHOUSE • 9.84 Acres
      241 Main St, Wallingford, CT 06492-2229
      View Details
    • Value Estimation by Request
      6.49 Acres

      929 Main St Ext

      COMMERCIAL (GENERAL) • 6.49 Acres
      929 Main St Ext, Wallingford, CT 06492-1824
      View Details
    • Value Estimation by Request
      0.19 Acres

      10 William St

      SHOW ROOM, WAREHOUSE • 0.19 Acres
      10 William St, Wallingford, CT 06492
      View Details

    Similar Nearby for Sale

    • $800,000
      4,475 SF

      Wallingford Commercial Building - Prime Location

      Spacious 4,475 sq ft commercial building, ideal for various uses.
      1145 Old Colony Rd, Wallingford, CT 06492
      View Details
    • $499,000
      2,570 SF

      Wallingford Mixed-Use Commercial Building

      Prime Wallingford location, mixed-use potential.
      330 Colony St, Wallingford, CT 06492
      View Details
    • $825,000
      4,000 SF

      Wallingford Commercial Building - High Visibility

      Prime location, 4000 sq ft, high traffic count.
      1191 Colony Rd, Wallingford, CT 06492
      View Details
    • $439,900
      2,480 SF

      Wallingford Commercial Building For Sale

      Prime location, spacious, well-maintained building.
      20 Chapel St, Wallingford, CT 06492
      View Details
    • Contact for pricing
      3,600 SF

      Wallingford Commercial Space - $18M

      Prime Retail Space, High Traffic Area, 3600 SF
      892 Colony Rd, Wallingford, CT 06492
      View Details
    • $299,900
      3,020 SF

      Wallingford Office Condo - Great Value!

      3,020 sq ft Office Condo, Prime Location
      65 Pln Industrial Rd Unit, Wallingford, CT 06492
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      9,996 SF

      Wallingford Office/Retail Opportunity

      Prime Wallingford location, 2,500 SF available.
      720 Main Street Ext, Wallingford, CT 06492
      View Details
    • $1,800 /Mo

      Bright Apartment Near Wallingford Center

      Two-bedroom apartment with natural light, near downtown Wallingford.
      73 William St, Wallingford, CT 06492
      View Details
    • $2,400 /Mo

      Updated Apartment Near Wallingford Center

      Spacious 3-bedroom apartment near shops, restaurants, and local businesses.
      20 Lee Ave, Wallingford, CT 06492
      View Details
    • Contact for pricing
      159,603 SF

      Wallingford Retail Space For Rent

      Retail space available in Wallingford, Connecticut shopping center.
      1240 S Broad St, Wallingford, CT 06492
      View Details
    • $2,000 /Mo
      2,509 SF

      Professional Office Space Available Now

      2,509 sq ft office space with kitchen and parking.
      150 South Turnpike Rd, Wallingford, CT 06492
      View Details
    • $900 /Mo
      383 SF

      Wallingford Medical Office Space Available

      Premier health and wellness center office space for rent.
      100 Center St, Wallingford, CT 06492
      View Details
    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.
    970 Colony Rd Ste, Unit 7
    Wallingford, CT 06492-5900
    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

    Google sign-in failed. Please try again or use another login method.