Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    320 Maple Avenue Montville, CT 6382

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $297,000

    55+/- acre land parcel suitable for development or family compound.

    Type:Land or Vacant Lot
    Lot size:
    55.85 Acres
    Added:
    Apr 14, 2024
    Days on Market:
    741
    Last Refresh:
    Apr 5 at 10:10 pm

    Property Features for 320 Maple Avenue

    General Information

    Standard status
    Active
    Lot size
    55.85 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    SUSAN RUSS

    Listing agent SUSAN RUSS License #RES.0597446

    Listing office CENTURY 21 Shutters & Sails

    Listing date Apr 14, 2024

    Source Corcoran

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

    All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Shutters & Sails

    Overview

    Montville Land Parcel For Sale

    This property consists of approximately 55 acres situated in a rural location with convenient access to major highways and businesses. It presents a development opportunity or the potential for a shared driveway leading to a family compound. The owner has received a Certificate of Registration pertaining to a breached dam situated at the bottom of the property. Further documentation is not available. Prospective buyers are advised to conduct their own due diligence regarding the land. Public sewer service is available on Maple Avenue.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Montville
    County
    New London
    State
    Connecticut
    Longitude
    -72.125
    Latitude
    41.4598

    Nearby Similar for Sale

    • $349,927
      628 SF

      Commercial Property on High-Visibility Lot

      Highly visible commercial property on 1.3 acres, Route 32 frontage.
      1105 Norwich New London Turnpike, Montville, CT 06382
      View Details
    • $224,900
      1,649 SF

      Montville Four-Family Investment Opportunity

      Four-unit property in Oakdale/Montville with value-add potential.
      4 Pequot Road, Montville, CT 06382
      View Details
    • $49,000

      Residential Parcel in Montville, CT

      3.24 acre residential parcel for sale in Montville, CT.
      243 Leffingwell Road, Montville, CT 06382
      View Details
    • $35,000

      Waterfront Land on Oxoboxo Lake

      Corner lot with frontage on Oxoboxo Lake in Montville, CT.
      33A Laurel Point Drive, Montville, CT 06370
      View Details
    • $39,900

      Undeveloped Lot in Montville, CT

      0.35-acre lot with public water and sewer access.
      1465 Norwich New London (rte 32) Turnpike, Montville, CT 06382
      View Details
    • $500,000

      Vacant Wooded Land For Sale

      30.24 acres of wooded land, close to Mohegan Sun.
      5 Richard Brown Dr, Montville, CT
      View Details
    • $297,000

      Montville Land Near Highways

      55+/- acre land parcel close to major highways and businesses.
      320 Maple Avenue, Montville, CT 06382
      View Details

    FAQs

    What type of property is this?
    Land - 55+/- acre land parcel suitable for development or family compound.
    Where is this land located?
    The property is located at 320 Maple Avenue Montville, CT.
    What is the asking price?
    The asking price for this property is $297,000.
    What are key features of this property?
    This property features: 55 +/- acres of land offering potential for development.; Close proximity to major highways and businesses.; Opportunity for a family compound with shared driveway.
    (860) 331-1510
    We can help!
    Listing Contact
    SUSAN RUSS
    Real Estate License ID: RES.0597446
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!