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

    423 Providence Rd Brooklyn, CT 06234

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $349,500

    Land with conceptual plans for retail, storage, apartments, and condos.

    Lot size:
    1.14 Acres

    Property Features for 423 Providence Rd

    General Information

    Standard status
    Active
    Lot size
    1.14 Acres

    We can help!

    Listing Contact
    Sam Lyman
    Source: Corcoran

    Listing Agency: Samuel Lyman, Broker Listing Agent: Sam Lyman

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

    Learn more

    Overview

    Land Across From Walmart

    This property features city water, septic, and gas utilities. It is located across the street from a Walmart Supercenter. The traffic count is 14,900. Conceptual plans are available for various uses. The zoning allows for retail, self-storage or contractor bays, and apartments or condos. The zone is PC. Nearby tenants include McDonald's, CVS, NAPA, Advance Auto Parts, Dollar Tree, Ocean State Job Lot, Dunkin', KFC, and AutoZone. A Tractor Supply store is coming soon.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Windham
    State
    Connecticut
    Longitude
    -71.91346
    Latitude
    41.79672

    Nearby Similar for Sale

    • New
      $311,000
      6,728 SF

      Brooklyn Commercial Property with Carwash

      Commercial property with carwash, office space, and highway access.
      49 S Main St, Brooklyn, CT 06234
      View Details
    • New
      $3,750,000
      8,936 SF

      Restaurant, Driving Range, and Barn

      Thriving restaurant, driving range, and barn on 11.58 acres.
      170 South St, Brooklyn, CT 06234
      View Details
    • $179,900
      Pending

      6.9 Acre Land Parcel

      6.9 acre parcel suitable for horses and home.
      147 South St, Brooklyn, CT 06234
      View Details
    • New
      $39,000
      0.42 Acres

      Commercial Property in Brooklyn, CT

      Commercial property for sale in Brooklyn, Connecticut.
      53 S Main St, Brooklyn, CT 06234
      View Details
    • $1,317,647
      7,000 SF

      Advance Auto Parts For Sale

      7,000 SF Advance Auto Parts in Brooklyn, CT.
      465 Providence Rd, Brooklyn, CT 06234
      View Details
    • $975,000

      Versatile Commercial Property For Sale

      High-traffic location with 4,000 sq ft building and drive-through.
      483 Providence Rd, Brooklyn, CT 08234
      View Details
    • $325,000

      Brooklyn Retail Space For Sale

      Retail property available for purchase in Brooklyn, Connecticut.
      13 Plaza St, Brooklyn, CT 06234
      View Details
    • $569,900

      Prince Hill Road Property

      Property for sale on Prince Hill Road.
      133 Prince Hill Rd, Brooklyn, CT 06234
      View Details
    • $529,000

      Brooklyn Specialty Property For Sale

      Specialty property available for purchase in Brooklyn, Connecticut.
      51 Westview Dr, Brooklyn, CT 06234
      View Details
    • $549,900

      Pomfret Landing Road Property

      Property located at 91 Pomfret Landing Rd, Brooklyn, CT.
      91 Pomfret Landing Rd, Brooklyn, CT 06234
      View Details
    • $679,900

      Brooklyn Specialty Property For Sale

      Specialty property available for purchase in Brooklyn, Connecticut.
      34 Pine Tree Ter, Brooklyn, CT 06234
      View Details
    • $3,750,000
      8,936 SF

      Restaurant, Range, and Barn Package

      Thriving restaurant, driving range, and new barn on 11.58 acres.
      170 South St, Brooklyn, CT 06234
      View Details

    FAQs

    What type of property is this?
    Commercial land - Land with conceptual plans for retail, storage, apartments, and condos.
    Where is this commercial land located?
    The property is located at 423 Providence Rd Brooklyn, CT.
    What is the asking price?
    The asking price for this property is $349,500.
    What are key features of this property?
    This property features: - High-Traffic Location: Benefit from 14,900 vehicles per day.; - Flexible Zoning: PC zoning allows for Retail, Self Storage/Contractor Bays, and Apartments/Condos.; - Conceptual Plans Available: Suitable for various uses.
    (860) 887-5000
    Request Owner's contact information
    423 Providence Rd Brooklyn, CT 06234
    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.
    423 Providence Rd
    Brooklyn, CT 06234
    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
    423 Providence Rd Brooklyn, CT 06234
    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
    Sam Lyman
    Real Estate License ID: REB.0793484
    (860) 887-5000 (860) 876-0359
    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!