Add Listing
    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

    37 S Broad St Stonington, CT 06379

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $38,000

    Land lease or build-to-suit opportunity near Pawcatuck Shopping Center.

    Lot size:
    0.80 Acres

    Property Features for 37 S Broad St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.80 Acres

    We can help!

    Listing Contact
    Norman Peck
    Source: Elliman

    Listing Agency: Signature Properties of NewEng Listing Agent: Norman Peck

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

    Learn more

    Overview

    Land Lease Opportunity Near Shopping

    A land lease is available at $38,000 per year, NNN, with a build-to-suit option on an approximately 0.80-acre site. The property is located next to the Pawcatuck Shopping Center, which includes Walgreens and Renegade Gym. The site benefits from a traffic count of over 9,800 vehicles daily. The owner also owns the adjacent shopping plaza, allowing for potential shared access and parking with any proposed development. An existing house, currently rented on a month-to-month basis, is situated on the east side of the property. Zoning regulations are detailed in the attached brochure.
    Location Intelligence

    Current Use by Public Records

    LibertyX Bitcoin ATM Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Stonington
    County
    New London
    State
    Connecticut
    Longitude
    -71.9050025
    Latitude
    41.3368378

    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, Stonington, CT 06355
      View Details
    • $1,650 /Mo
      300 SF

      Charming Retail/Office in Stonington Borough

      Adorable retail or office space in historic Stonington Village.
      14 Church St, Stonington, CT 06378
      View Details
    • $1,650 /Mo
      300 SF

      Charming Retail/Office Space in Stonington

      Retail or office space in historic Stonington Borough.
      14 Church St, Stonington, CT 06378
      View Details
    • $2,040 /Mo
      1,020 SF

      Turnkey Medspa/Medical Office Space

      1,020 SF move-in ready space in Mystic, Connecticut.
      80 Stonington Rd, Stonington, CT 06355
      View Details
    • $795 /Mo

      Bright Office Space in Mystic

      400 SF office space in a professional building.
      14 Masons Island Rd, Stonington, CT 06355
      View Details
    • $650 /Mo

      Scenic Office Building Near Mystic

      Premium office space with amenities near Stonington Borough and Mystic.
      107 Wilcox Rd, Stonington, CT 06378
      View Details
    • $550 /Mo

      Historic Mill Retail/Office Spaces

      Charming retail and office spaces in historic Mystic mill.
      11 Main St, Stonington, CT 06355
      View Details
    • $650 /Mo
      144 SF

      Scenic Office Building with Amenities

      Premium office space near Mystic and Stonington with included utilities.
      107 Wilcox Rd, Stonington, CT 06378
      View Details
    • $795 /Mo

      Bright Office Space in Mystic

      Premium office space in Mystic, perfect for small business.
      14 Masons Island Rd, Stonington, CT 06355
      View Details
    • $350 /Mo

      Furnished Office Space Available

      Furnished office space in professional building, suitable for various uses.
      9 Masons Island Rd, Stonington, CT 06355
      View Details
    • $22 SF/Yr

      Historic Mystic Mill Commercial Building

      Charming retail and office spaces in historic Mystic, CT.
      11 Main St, Stonington, CT 06355
      View Details
    • $795 /Mo
      398 SF

      Office Space in Mystic

      Bright office space in a premium Mystic location.
      14 Masons Island Rd, Stonington, CT 06355
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land lease or build-to-suit opportunity near Pawcatuck Shopping Center.
    Where is this commercial land located?
    The property is located at 37 S Broad St Stonington, CT.
    What is the lease rate?
    The lease rate is $38,000.
    What are key features of this property?
    This property features: - Build to Suit Opportunity on 0.80+/- Acre Site; - High Traffic Count: 9,800+ Daily Average; - Adjacent to Pawcatuck Shopping Center (Walgreens, Renegade Gym)
    (860) 447-8839
    Request Owner's contact information
    37 S Broad St Stonington, CT 06379
    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.
    37 S Broad St
    Stonington, CT 06379
    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
    37 S Broad St Stonington, CT 06379
    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
    Norman Peck
    (860) 447-8839 (860) 460-9757
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!