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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    983 Hartford Tpke Waterford, CT 06385-4001

    • Showrooms
    • 6,810 SF
    • 2.80 lot acres
    OFF-MARKET
    Last Sale
    Feb 21, 2020
    $1,050,000
    Value Estimations
    $1,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0273283
    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

    • Oakdell Motel / Motel

    Property Details for 983 Hartford Tpke

    Year built
    1956
    Construction
    FRAME
    Lot size
    2.80 lot acres
    Property size
    6,810 SF
    Zone code
    CG
    Property type
    Showrooms
    APN
    WFRD M:71 L:3272
    APU
    WFRDM71L3272

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,005,000
      ML approach
      $995,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $685,000
      Market price range: $450k - $1.23M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $905,000
      Current use
      OFFICE BUILDING
      $935,000
      Change: +3% Conversion: Easy
      RETAIL STORES
      $760,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterford
    County
    New London
    State
    Connecticut
    Longitude
    -72.1597
    Latitude
    41.389
    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
    $11,605
    $261,490
    $285,900
    $547,390
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,180,000
      26,955 SF

      140 Cross Rd

      SHOW ROOM, WAREHOUSE • 26,955 SF
      140 Cross Rd, Waterford, CT 06385-1215
      View Details
    • Value Estimation
      $1,740,000
      45,000 SF

      6 Fargo Rd

      SHOW ROOM, WAREHOUSE • 45,000 SF
      6 Fargo Rd, Waterford, CT 06385-4012
      View Details
    • Value Estimation
      $570,000
      4,488 SF

      361 Mago Pt Way

      SHOW ROOM, WAREHOUSE • 4,488 SF
      361 Mago Pt Way, Waterford, CT 06385-3145
      View Details
    • Value Estimation
      $1,040,000
      16,756 SF

      131 Boston Post Rd

      SHOW ROOM, WAREHOUSE • 16,756 SF
      131 Boston Post Rd, Waterford, CT 06385-2839
      View Details
    • Value Estimation
      $2,385,000
      64,952 SF

      128 Boston Post Rd

      SHOW ROOM, WAREHOUSE • 64,952 SF
      128 Boston Post Rd, Waterford, CT 06385-2817
      View Details
    • Value Estimation
      $1,170,000
      18,750 SF

      262 Boston Post Rd

      SHOW ROOM, WAREHOUSE • 18,750 SF
      262 Boston Post Rd, Waterford, CT 06385-2053
      View Details

    Similar Nearby for Sale

    • $8,000,000
      328.00 Acres

      Waterford Mixed-Use Development Site

      Prime 328-acre I-95 development opportunity.
      140 Waterford Pkwy, Waterford, CT 06385
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    • $60,000
      672 SF

      Waterford Office Suite - $60K

      Prime Waterford location, 672 sq ft office suite, ample parking.
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    • $1,300,000
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      Waterford Industrial Property - 18 Acres

      Two buildings, 18,045 sq ft, prime location.
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    • $119,900

      New Mobile Home in 55+ Community

      New two-bedroom mobile home in Waterford's Brookside Mobile Home Park.
      270 Boston Post Rd, Waterford, CT 06385
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    • $339,000

      Commercial Land For Sale

      Commercial land available for sale.
      143 Boston Post Rd, Waterford, CT 06385
      View Details
    • $150,000

      Waterford Land Parcel For Sale

      6.7 acre commercial land parcel with highway frontage.
      25 Fargo Rd, Waterford, CT 06385
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    Similar Nearby for Lease

    • Contact for pricing
      2,560 SF

      Retail Space in Waterford Center

      Retail space available in a highly visited shopping center.
      903-915 Hartford Tpke, Waterford, CT 06385
      View Details
    • $10 SF/Yr
      32,000 SF

      Waterford Retail or Office Space

      32000 SF retail or office space available for rent.
      40 Boston Post Rd, Waterford, CT 06385
      View Details
    • Contact for pricing
      64,804 SF

      Prime Waterford Retail Space

      High-traffic location, 30,000 SF available
      128 Boston Post Rd, Waterford, CT 06385
      View Details
    • Contact for pricing
      3,661 SF

      Retail Space Near I-95

      Retail space with high visibility and accessibility near I-95.
      850 Hartford Tpke, Waterford, CT 06385
      View Details
    • Contact for pricing
      14,999 SF

      Retail Space Near Crystal Mall

      14,999 SF retail space, formerly Eastern Mountain Sports.
      5 Dayton Pl, Waterford, CT 06385
      View Details
    • Contact for pricing
      79,000 SF

      Waterford Retail Development Opportunity

      New retail development near Crystal Mall with regional accessibility.
      845 Hartford Tpke, Waterford, CT 06385
      View Details
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    983 Hartford Tpke
    Waterford, CT 06385-4001
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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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