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

    305 Broad St Manchester, CT

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3.5 acre raw land parcel with commercial potential.

    Type:LAND
    Lot size:
    3.50 Acres
    Added:
    Dec 1, 2022
    Days on Market:
    1242
    Last Refresh:
    Apr 5 at 11:27 pm

    Property Features for 305 Broad St

    General Information

    Standard status
    Active
    Lot size
    3.50 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Sean Kumnick

    Listing agent Sean Kumnick

    Listing office Colliers - Hartford

    Listing date Dec 1, 2022

    Source Moodyscre

    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 Colliers - Hartford

    Overview

    Raw Land Parcel For Sale

    A 3.5-acre raw land parcel is available for sale, presenting potential for commercial development. The property is located on Broad Street in Manchester, a location considered suitable for development. The zoning is GB/RB. Traffic count is 11,973 vehicles per day at Broad Street and Middle Turnpike West.
    Property Profile Insight Report 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
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.5321
    Latitude
    41.7783

    Nearby Similar for Sale

    • $649,900
      6,400 SF

      Manchester Commercial Property For Sale

      Commercial property in Manchester, CT suitable for retail or flex use.
      319 Broad Street, Manchester, CT 06040
      View Details
    • $649,900
      4,700 SF

      Manchester Commercial Property For Sale

      Commercial property in central Manchester with high visibility and accessibility.
      142 E Center Street, Manchester, CT 06040
      View Details
    • $379,900
      2,476 SF

      Mixed-Use Property in Prime Location

      Office and apartment building near Downtown Manchester with upgrades.
      186 East Center Street, Manchester, CT 06040
      View Details
    • $1,500,000
      77,569 SF

      Industrial Site with Multi-Building Complex

      6+ acre industrial site ideal for various commercial operations.
      46 Apel Place, Manchester, CT 06042
      View Details
    • $419,900
      2,520 SF

      Well-Maintained Duplex Near Union Pond

      Side-by-side duplex with updated features and convenient location.
      146 Union Street, Manchester, CT 06042
      View Details
    • $489,999
      2,788 SF

      Renovated Two-Family Home

      Renovated two-family home with spacious units, ideal for investors.
      12 Newman Street, Manchester, CT 06040
      View Details
    • $325,000
      2,580 SF

      Mixed-Use Property on Busy Road

      Mixed-use property with office, store, apartment, and garage.
      600 Center Street, Manchester, CT 06040
      View Details
    • $359,000
      3,805 SF

      Manchester Multi-Family Investment Opportunity

      Two-family property in need of significant improvements, ideal for investors.
      106-108 Chestnut Street, Manchester, CT 06040
      View Details
    • $399,999
      2,700 SF

      Convenience Store & Coffee Shop

      Established store and coffee shop with high traffic location.
      467-469 Hartford Road, Manchester, CT 06040
      View Details
    • $750,000

      Profitable Restaurant with Real Estate

      Turnkey restaurant with real estate, furniture, fixtures, and equipment.
      378 Hartford Road, Manchester, CT 06040
      View Details
    • $649,900
      4,700 SF

      Manchester Commercial Property For Sale

      Centrally located property with high visibility and accessibility.
      142 East Center Street, Manchester, CT 06040
      View Details
    • $575,000
      2,968 SF

      6-Acre Commercial Land Package

      Prime commercial land package with high traffic and development potential.
      11 Spencer & 363,365 Olcott Street, Manchester, CT 06042
      View Details

    FAQs

    What type of property is this?
    Land - 3.5 acre raw land parcel with commercial potential.
    Where is this land located?
    The property is located at 305 Broad St Manchester, CT.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: Prime Broad Street location in Manchester ideal for development.; ±3.50 acre raw land parcel.; GB/RB Zoning.
    (860) 249-6521 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sean Kumnick
    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!