This single-story, 9,000 square foot retail plaza, situated on 1.73 acres of land at 630 Talcottville Road in Vernon, CT, presents a prime leasing opportunity. Built in 1977, the property boasts a high-traffic location on Route 83, experiencing nearly 20,000 average daily vehicles. Its convenient proximity to apartments, condominiums, a bus route, and a high school ensures a consistent flow of potential customers. Currently, approximately 1,800 square feet of space is available for lease. One unit, totaling roughly 800 square feet, features a large room, a bathroom, gas heat, central air conditioning, and city water/sewer. This unit is immediately available. The landlord prefers a three-year lease term. Tenants are responsible for electricity and natural gas. Monthly rent for this unit is $1,000. The property also offers the potential use of an outdoor fenced area (approximately 60' x 32'). Signage opportunities are available above and on the existing sign board. The landlord prohibits the sale of CBD, THC, marijuana, and vaping products. The zoning is commercial. The maximum contiguous space available is 1,000 square feet.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$18,314,868
6.5%
$16,906,032
7%
$15,698,458
Comparable approach
Method
Valuation
Relative Method
$24,812,946
Geo Method
$24,812,946
Alternative Use
Use
Valuation
Residential
$14,260,870
Hospitality
$13,062,881
Educational
$10,868,163
Medical
$11,241,936
Retail
$16,906,032
Location Insight
City
Vernon
County
Tolland
State
Connecticut
Latitude
41.8567
Longitude
-72.4841
CBSA code
25540
CBSA name
HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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