630 Talcottville RdVernon, CT 06066

Property Details for 630 Talcottville Rd

Lot size

1.73 AC

Zone code

COMMER

Property type

Retail properties

Property subtype

Retail space

APN

VERN M:08 B:0025 L:00009

APU

VERNM08B0025L00009

Description

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.

• 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

Property Tax & Assessments

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