Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Undeveloped Land on Berlin Turnpike Title is generated by Realmo AI

    2990 Berlin Turnpike, Newington, CT 06111

    View on Map
    Claim this Listing
    For Sale
    $275,000

    Undeveloped land with rental income from billboard signs.

    Type:Land / Commercial Land
    Added:
    Nov 1, 2025
    Days on Market:
    214
    Last Refresh:
    May 13 at 10:23 pm

    Property Features for 2990 Berlin Turnpike

    General Information

    Standard status
    Active
    Property subtype
    Land / Commercial Land

    We can help!

    Listing Contact
    Brittany Skorupski-Williams

    Listing agent Brittany Skorupski-Williams License #RES.0805672

    Listing office Parker Benjamin Real Estate Se

    Listing date Nov 1, 2025

    Source Compass

    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 Parker Benjamin Real Estate Se

    HighLights

    • Undeveloped land offers flexible development opportunities.
    • Located on the Berlin Turnpike, providing high visibility.
    • Situated in Newington, CT.
    • Rental income from 6 billboard signs provides immediate revenue.
    • No waterfront, eliminating associated restrictions/costs.
    • Additional property details available.

    Overview

    This property consists of undeveloped land located on the Berlin Turnpike in Newington, CT. The property generates rental income from 6 billboard signs.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office 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
    Newington
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.7195883
    Latitude
    41.6655266

    Nearby Similar for Sale

    • $760,000
      5,000 SF

      Newington Commercial Flex Space

      5,000 SF industrial facility on 0.57 acres.
      193 Pascone Place, Newington, CT 06111
      View Details
    • $760,000
      5,000 SF

      Commercial Flex Space For Sale

      5,000 SF industrial facility on 0.57 acres for sale.
      193 Pascone Pl, Newington, CT 06111
      View Details
    • $850,000
      2,840 SF

      Adaptable Commercial Space in Newington

      Well-located commercial property with flexible layout and ample parking.
      85 Kitts Lane, Newington, CT 06111
      View Details
    • $850,000

      Prime Commercial Land Opportunity

      Well-positioned property in active commercial corridor, adaptable for various uses.
      85 Kitts Ln, Newington, CT 06111
      View Details
    • $299,000

      Established Newington Retail Storefront For Sale

      Turnkey retail business with consistent clientele and high traffic.
      847 Main St, Newington, CT 06111
      View Details
    • $850,000
      2,000 SF

      Retail Building Near Berlin Turnpike

      Retail building with two suites near a retail center.
      151 Kitts Ln, Newington, CT
      View Details
    • $975,000
      12,251 SF

      Renovated Office Building in Newington

      12,251 SF renovated office building in thriving Newington, CT.
      171 Market Sq, Newington, CT
      View Details
    • $5,923,076
      10,000 SF

      Newington, CT Retail NNN Asset

      10,000 SF NNN leased to The Learning Experience.
      395 Willard Ave, Newington, CT
      View Details
    • $4,340,000
      41,833 SF

      O'Neil Plaza Investment Opportunity

      Unanchored strip center with value-add potential in Newington, Connecticut.
      2434 Berlin Tpke, Newington, CT 06111
      View Details
    • $275
      3,400 SF

      Professional Office Suites For Sale

      Affordable, turnkey office suites with utilities included, convenient location.
      252 Hartford Avenue, Newington, CT 06111
      View Details
    • $275,000

      Undeveloped Land on Berlin Turnpike

      Undeveloped land available on the Berlin Turnpike in Newington, CT.
      2950 Berlin Tpke, Newington, CT, 06111-4626
      View Details
    • $275,000

      Undeveloped Land on Berlin Turnpike

      Undeveloped commercial land available on the Berlin Turnpike.
      2950 Berlin Turnpike, Newington, CT 06111
      View Details

    FAQs

    What type of property is this?
    Commercial land - Undeveloped land with rental income from billboard signs.
    Where is this commercial land located?
    The property is located at 2990 Berlin Turnpike Newington, CT.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Undeveloped land offers flexible development opportunities.; Located on the Berlin Turnpike, providing **high visibility**.; Situated in Newington, CT.
    (860) 933-8143
    We can help!
    Listing Contact
    Brittany Skorupski-Williams
    Real Estate License ID: RES.0805672
    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
    2990 Berlin Turnpike, Newington, CT 06111
    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!