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

    40 Park Lane Road New Milford, CT 6776

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,000

    Commercial property with road frontage, redevelopment potential, and business opportunities.

    Type:Commercial/Industrial
    Property size:
    979 SF
    Lot size:
    0.43 Acres
    Price / SF:
    $305/SF
    Added:
    Mar 16, 2026
    Days on Market:
    46
    Last Refresh:
    Apr 6 at 3:18 am

    Property Features for 40 Park Lane Road

    General Information

    Standard status
    Active
    Size
    979 SF
    Lot size
    0.43 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Jacqueline Caporale

    Listing agent Jacqueline Caporale License #RES.0821267

    Listing office Alliance R.E. Consultants

    Listing date Mar 16, 2026

    Source Exitrealty

    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 Alliance R.E. Consultants

    Overview

    Commercial Property on Park Lane

    This commercial property presents a significant opportunity with substantial road frontage on State Road 202/Park Lane. The property offers options to reinvigorate an existing dry-cleaning business, repurpose the current building, or redevelop the site. Situated on almost a half acre of land, the property allows for various development plans. The B-1 zone permits several "As of Right" uses, subject to site plan approval, including business and professional offices, banks, retail shops offering goods and/or services, and various food uses such as restaurants. The property's location adjacent to and across the road from other successful businesses enhances its potential. The existing building has a size of 979 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sanda's Cleaners (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    New Milford
    County
    Litchfield
    State
    Connecticut
    Longitude
    -73.406003
    Latitude
    41.5941432

    Nearby Similar for Sale

    • $1,899,900
      16,640 SF

      New Milford Office Building

      16,520 SF office building with storage and parking.
      128 Litchfield Road, New Milford, CT 06776
      View Details
    • $889,000
      4,895 SF

      Four-Unit Multifamily Investment Opportunity

      Four units, three renovated, immediate income, value-add potential.
      18 S Main Street, New Milford, CT 06776
      View Details
    • $499,000
      2,589 SF

      Mixed-Use Property in Downtown

      Historic mixed-use property with commercial space and residential unit.
      20 S Main Street, New Milford, CT 06776
      View Details
    • $299,000

      Waterfront Land with Private Island

      11.24-acre property with 2.5-acre private island and river views.
      Kent Road, New Milford, CT 06776
      View Details
    • $149,900

      Residential Lot in New Milford

      Residential lot for sale in a desirable New Milford location.
      101 S Kent Road, New Milford, CT 06755
      View Details
    • $695,000
      6,547 SF

      New Milford Church and Rectory

      Church with antique rectory, suitable for religious or residential use.
      685 Kent Road, New Milford, CT 06755
      View Details
    • $149,900

      Residential Lot in New Milford

      Residential lot for sale in a desirable New Milford location.
      100 S Kent Road, New Milford, CT 06755
      View Details
    • $299,000

      Commercial Property on Park Lane

      Commercial property with road frontage, redevelopment potential, and permitted uses.
      40 Park Lane Rd, New Milford, CT 06776
      View Details
    • $499,000
      4,518 SF

      Versatile Industrial Condo For Sale

      Industrial condo with offices, bathrooms, kitchenette, and storage.
      50 South End Plaza #50, New Milford, CT 06776
      View Details
    • $35,000

      Updated Office Suite on Route 7

      Second-floor office suite with updated features and flexible layout.
      56 Danbury Road #7 New Milford, CT 06776
      View Details
    • $1,700,000
      4,393 SF

      Prime Development Opportunity on Danbury Road

      7-acre assemblage with existing building and development rights.
      29 & 31 Danbury Rd, New Milford, CT 06776
      View Details
    • $889,000

      Four-Unit Multifamily Investment Opportunity

      Two buildings, four units, renovated, leased, value-add potential.
      18 S Main St, New Milford, CT 06776
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial property with road frontage, redevelopment potential, and business opportunities.
    Where is this storefront property located?
    The property is located at 40 Park Lane Road New Milford, CT.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: High‑visibility location on State Road 202/Park Lane; Versatile B‑1 zoning allows for a wide range of uses; Redevelopment potential on almost a half‑acre
    (203) 621-8029
    We can help!
    Listing Contact
    Jacqueline Caporale
    Real Estate License ID: RES.0821267
    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!