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    Professional Condominium For Sale Title is generated by Realmo AI

    270 Montauk Avenue, New London, CT 06320

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    Claim this Listing
    Pending
    $119,000

    COMMERCIAL - New London, CT

    Property size:
    2,009 SF
    Lot size:
    0.42 Acres
    Added:
    Jan 24, 2026
    Days on Market:
    130
    Last Refresh:
    Jun 3 at 9:06 am

    Property Features for 270 Montauk Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    R-2
    Parking
    12
    Exterior features
    Sidewalk
    Standard status
    Pending
    Size
    2,009 SF
    Lot size
    0.42 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    6737

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1972

    We can help!

    Listing Contact
    Kim Benoit

    Listing agent Kim Benoit License #RES.0761995

    Listing office CENTURY 21 Shutters & Sails 41 E Main Street, Mystic, CT

    Listing date Jan 24, 2026

    MLS# 24150836

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

    HighLights

    • Versatile professional condominium suitable for various businesses.
    • Well‑designed layout with reception, waiting areas, exam rooms, supply room, and offices.
    • Natural gas heating and central air conditioning throughout the unit.
    • Accessibility features including 32" minimum door widths, accessible bath, handicap parking, and accessible approach with ramp.
    • Immediate availability for use.
    • Located in a professional condominium building.

    Overview

    This professional condominium, formerly a medical business, presents an exceptional opportunity with versatile potential. The unit features a well-designed layout, including reception and waiting areas, exam rooms, a supply room, and offices. Natural gas heating and central air conditioning are available throughout the unit. The property, with a size of 2009 square feet, is available for immediate use in various professional fields such as medical practices, accounting firms, and real estate agencies. The space has private rooms that cater to a wide range of needs. This building is designated as a "professional condominium" and is zoned R-2. The sale is for the lower unit of the building only. The property is located in New London, CT, in New London County, and the lot size is 0.42 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mystic Medical Group Medical Group Bontempi Rosemary C ... Physician Hardy Jennifer Physician Claire Verdier, APRN Pediatrician Harkness Chapel Church

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    State
    Connecticut
    Longitude
    -72.105062
    Latitude
    41.339722

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    FAQs

    What type of property is this?
    Medical Office Space - Versatile professional condominium with well-designed layout and immediate use potential.
    Where is this medical office space located?
    The property is located at 270 Montauk Avenue New London, CT.
    What is the asking price?
    The asking price for this property is $119,000.
    What are key features of this property?
    This property features: Versatile professional condominium suitable for various businesses.; Well‑designed layout with reception, waiting areas, exam rooms, supply room, and offices.; Natural gas heating and central air conditioning throughout the unit.
    (860) 460-8739
    We can help!
    Listing Contact
    Kim Benoit
    Real Estate License ID: RES.0761995
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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.

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