Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    32 Acres with Road Frontage Title is generated by Realmo AI

    15 Short Hills Road, Old Lyme, CT 06371

    View on Map
    Claim this Listing
    For Sale
    $899,000

    32-acre land parcel with road frontage and ponds.

    Type:Land or Vacant Lot
    Lot size:
    32.00 Acres
    Added:
    Sep 25, 2025
    Days on Market:
    251
    Last Refresh:
    Apr 5 at 9:42 pm

    Property Features for 15 Short Hills Road

    General Information

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

    We can help!

    Listing Contact
    CURTISS CLEMENS JR.

    Listing agent CURTISS CLEMENS JR.

    Listing office Century 21 Clemens Group

    Listing date Sep 25, 2025

    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 Clemens Group

    HighLights

    • 32‑acre property offering ample space
    • Boasting approximately 1,700 feet of road frontage
    • Subdivision potential for development opportunities
    • Features two man‑made ponds
    • Predominantly level land
    • Underground utilities on the street

    Overview

    This 32-acre property features approximately 1,700 feet of road frontage. The land is predominantly level and includes two man-made ponds. The property offers possibilities for creating a private retreat, establishing a family compound, or exploring subdivision potential. Underground utilities are available on the street. Interested parties are advised to conduct their own due diligence.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Big Box & Wholesale Store Department Store Garden Center Electronics & Wireless Store Pet Store Carpet & Flooring Store Plumbing Service Nursing Home Pet Store & Service (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Lyme
    County
    New London
    State
    Connecticut
    Longitude
    -72.2768
    Latitude
    41.32

    Nearby Similar for Sale

    • $888,000
      2,225 SF

      Old Lyme Beach Community Property

      Two homes and an in-law unit near the beach.
      40 Portland Avenue, Old Lyme, CT 06371
      View Details
    • $619,900

      Beach Home in Desirable Community

      Spacious duplex in a desirable beach community, move-in ready.
      10 Old Colony Rd, Old Lyme, CT 06371
      View Details
    • $888,000

      Old Lyme Beach Community Property

      Two homes and an in-law unit near the beach.
      40 Portland Ave, Old Lyme, CT 06371
      View Details
    • $888,000
      2,225 SF

      Old Lyme Beach Community Property

      Two homes and an in-law unit near the beach.
      40 Portland Avenue, Old Lyme, CT 06371
      View Details
    • $795,000

      Development Lot with I-95 Access

      Commercial land for sale with high traffic and I-95 access.
      1 Huntley Road, Old Lyme, CT 06371
      View Details
    • $795,000

      Development Lot with I-95 Access

      Commercial development lot with high traffic and I-95 access.
      1 Huntley Road, Old Lyme, CT 06371
      View Details
    • $995,000

      26 Acres Near Golf Course

      26 acres near golf course, minutes from sandy beaches.
      184 Shore Road, Old Lyme, CT 06371
      View Details
    • $4,500,000
      50,223 SF

      Retail Hub with Upside Potential

      Ideally located retail hub with long-term tenancy and strong demographics.
      19 Halls Rd, Old Lyme, CT
      View Details
    • $1,250,000
      1,698 SF

      Multi-Use Property with Storage Permit

      Multi-use property with storage unit permit and rental income.
      224 Shore Road, Old Lyme, CT 06371
      View Details
    • $550,000

      Land Parcel in Old Lyme

      Residential land parcel suitable for building or subdivision.
      6-1 and 8-1 Meetinghouse Lane, Old Lyme, CT 06371
      View Details
    • $99,000

      Turnkey Fitness Center in Old Lyme

      Snap Fitness Center in Old Lyme's commercial center for sale.
      54 Halls Road, Old Lyme, CT 06371
      View Details
    • $250,000

      Land Available for Sale

      Land available for sale at 287 Boston Post Rd
      287 Boston Post Rd, Old Lyme, CT 06371
      View Details

    FAQs

    What type of property is this?
    Land - 32-acre land parcel with road frontage and ponds.
    Where is this land located?
    The property is located at 15 Short Hills Road Old Lyme, CT.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: 32‑acre property offering ample space; Boasting approximately 1,700 feet of road frontage; Subdivision potential for development opportunities
    (860) 563-0021
    We can help!
    Listing Contact
    CURTISS CLEMENS JR.
    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

    Thank You for Inquiry
    15 Short Hills Road, Old Lyme, CT 06371
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!