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    Versatile Retail Building in Canterbury Title is generated by Realmo AI

    20 Knollwood Drive, Canterbury, CT 06331

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    For Sale
    $699,000

    Commercial Building - Canterbury, CT

    Property size:
    5,306 SF
    Lot size:
    3.85 Acres
    Price / SF:
    $131/SF
    Added:
    Feb 13, 2026
    Days on Market:
    95
    Last Refresh:
    May 19 at 4:06 am

    Property Features for 20 Knollwood Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    1678884
    Size
    5,306 SF
    Lot size
    3.85 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    6382

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2008
    Year renovated
    2008
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Androula Kazantzis
    Androula Kazantzis

    Listing agent Androula Kazantzis

    Listing office KAZANTZIS ANDROULA 8C DAY ST, Brooklyn, CT

    Listing date Feb 13, 2026

    MLS# 11654666 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large 5,306 sq ft retail building on 3.85 acres in Village Commercial Zone.
    • Potential to be divided into up to four or five separate units for multiple business setups or mixed‑use.
    • Includes a full kitchen and full bath, suitable for home‑based business or live/work use.
    • Built in 2008 and well‑maintained with modern construction.
    • Ample land allows for potential expansion or future development.
    • Features Heating (Forced Air, Natural Gas) and Cooling (Central Air) systems.

    Overview

    This 5,306 sq ft retail building, constructed in 2008, is located in a Village Commercial Zone and situated on 3.85 acres. The property is currently rented and offers potential for investors or owner-occupants. It can be divided into up to four separate units, accommodating multiple business setups or mixed-use configurations. The building includes a full kitchen and full bath, making it suitable for a home-based business or live/work use. Ample land allows for potential expansion, whether for additional units, storage, or future development. This property offers modern construction and zoning versatility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Windham County Strength ... Gym & Fitness Center C L Services Accounting Firm

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Gym & Fitness Center Pharmacy Department Store Food Market Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Canterbury
    County
    New London
    State
    Connecticut
    Longitude
    -71.995709
    Latitude
    41.695607

    Nearby Similar for Sale

    • $699,000
      5,306 SF

      Versatile Retail Building on Large Lot

      5,306 sq ft retail building on 3.85 acres.
      20 Knollwood Dr, Canterbury, CT 06331
      View Details
    • $699,000
      5,306 SF

      Versatile Retail Building on Large Lot

      5,306 sq ft retail building on 3.85 acres.
      20 Knollwood Drive, Canterbury, CT 06331
      View Details
    • $699,000
      5,376 SF

      Versatile Retail Building on Large Lot

      5,306 sq ft retail building on 3.85 acres.
      20 Knollwood Drive, Canterbury, CT 06331
      View Details

    FAQs

    What type of property is this?
    Retail space - 5,306 sq ft retail building on 3.85 acres.
    Where is this retail space located?
    The property is located at 20 Knollwood Drive Canterbury, CT.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Large 5,306 sq ft retail building on 3.85 acres in Village Commercial Zone.; Potential to be divided into up to four or five separate units for multiple business setups or mixed‑use.; Includes a full kitchen and full bath, suitable for home‑based business or live/work use.
    (860) 208-8331
    We can help!
    Listing Contact
    Androula Kazantzis
    Androula Kazantzis
    Real Estate License ID: REB.0791040
    Learn More
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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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