Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    90 Godfrey Rd Mystic, CT 06355

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,900 /Mo

    Multifamily property available for rent in Groton, CT.

    Lot size:
    1.63 Acres

    Property Features for 90 Godfrey Rd

    General Information

    Lot size
    1.63 Acres

    Building Details

    Year built
    1989

    We can help!

    Listing Contact
    Toni Grady
    Toni Grady
    Source: Elliman

    Listing Agent: Toni Grady

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Residential Income Property For Rent

    A multifamily residential income property is available for rent at 90 Godfrey Rd in Groton, CT. The listing price is $1900.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Nail Salon Pharmacy Gym & Fitness Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Mystic
    County
    New London
    State
    Connecticut
    Longitude
    -71.9907885
    Latitude
    41.3873748

    Nearby Similar for Lease

    • $1,250 /Mo
      6,400 SF

      Stonington Office Space For Lease

      Office suite in high-traffic location near Mystic Golden Triangle.
      232 Greenmanville Ave, Mystic, CT 06355
      View Details
    • New
      $37 SF/Yr
      1,052 SF

      Downtown Mystic Commercial Space Available

      Commercial space for lease in downtown Mystic with river views.
      3 Water St, Mystic, CT 06355
      View Details
    • New
      $1,250 /Mo
      6,400 SF

      Stonington Office Space For Lease

      Office space for lease in high-traffic Stonington location.
      232 Greenmanville Ave, Mystic, CT 06355
      View Details
    • $2,100 /Mo

      Updated Apartment in Downtown Mystic

      Updated 2-bedroom apartment in downtown Mystic near shops.
      17 Willow St, Mystic, CT 06355
      View Details
    • $2,000 /Mo

      Mystic One Bedroom Apartment

      One-bedroom apartment in Mystic with utilities included and off-street parking.
      17 Heather Glen Ln, Mystic, CT 06355
      View Details
    • $975 /Mo
      600 SF

      Downtown Mystic Office Space Available

      Charming, historical office space in downtown Mystic for rent.
      31 Willow St, Mystic, CT 06355
      View Details
    • $30 SF/Yr
      6,536 SF

      Retail Plaza Near Mystic Aquarium

      Retail spaces available in renovated plaza near Mystic attractions.
      12 Coogan Blvd, Mystic, CT 06355
      View Details
    • $18 SF/Yr
      3,025 SF

      Retail Plaza Near Mystic Attractions

      Retail spaces available in high-traffic Mystic location near I-95.
      23 Clara Dr, Mystic, CT 06355
      View Details
    • $1,150 /Mo
      1,150 SF

      Mystic Office Space For Lease

      1,150 SF office space available for lease in Mystic.
      1101 Noank-Ledyard Rd, Mystic, CT
      View Details
    • $795 /Mo

      Bright Office Space in Mystic

      Premium office space in Mystic, perfect for small business.
      14 Masons Island Rd, Mystic, CT 06355
      View Details
    • $1,500 /Mo
      720 SF

      Downtown Garage with Loft Space

      720 sq ft garage with loft and parking spaces.
      22 Fort Rachel Pl, Mystic, CT 06355
      View Details
    • $1,700 /Mo

      Two-Bedroom Apartment with Wooded Views

      Bright two-bedroom apartment near Mystic, Groton Long Point, and beaches.
      405 Noank Ledyard Rd, Mystic, CT 06355
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property available for rent in Groton, CT.
    Where is this multifamily property located?
    The property is located at 90 Godfrey Rd Mystic, CT.
    What are key features of this property?
    This property features: - Year Built: 1989
    (860) 235-4568
    Request Owner's contact information
    90 Godfrey Rd Mystic, CT 06355
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    90 Godfrey Rd
    Mystic, CT 06355
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    90 Godfrey Rd Mystic, CT 06355
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Toni Grady
    Toni Grady
    (860) 235-4568
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.