Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Groton Commercial Parking Lot Title is generated by Realmo AI

    572 Thames Street, Groton, CT 06340

    View on Map
    Claim this Listing
    For Sale
    $1,250,000

    Prime parking lot near Electric Boat and Pfizer for sale.

    Type:Commercial
    Lot size:
    1.28 Acres
    Added:
    Aug 15, 2025
    Days on Market:
    294
    Last Refresh:
    Apr 5 at 8:32 pm

    Property Features for 572 Thames Street

    General Information

    Standard status
    Active
    Lot size
    1.28 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1890

    We can help!

    Listing Contact
    HEATHER GIANACOPLOS

    Listing agent HEATHER GIANACOPLOS License #RES.0800582

    Listing office Compass Connecticut, LLC

    Listing date Aug 15, 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 Compass Connecticut, LLC

    HighLights

    • High‑traffic, high‑demand location ensures consistent usage.
    • Proximity to Electric Boat and Pfizer drives parking demand.
    • Limited parking options in the area create a rare investment opportunity.
    • Potential for steady income generation from existing parking lot operation.
    • Strategic location near waterfront attractions and major transportation routes.
    • Offers long‑term value and flexibility for future redevelopment.

    Overview

    Located at 572 Thames Street and 28 Poquonnock Road in Groton, CT, this commercial investment property is a well-maintained parking lot. It is strategically positioned in a high-traffic, high-demand area near Electric Boat, Pfizer, waterfront attractions, and major transportation routes. The property offers significant potential for steady income generation due to limited parking options in the area. It presents a rare opportunity to capitalize on the growing demand for parking in Groton. The property offers long-term value and flexibility, whether maintaining its current use or exploring future redevelopment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jones Parking Lot ... Parking Lot & Garage

    Suggested Use

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

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

    Similar Places Nearby

    • Enterprise Rent-A-Car — 311 Mitchell St, Groton, CT 06340

    Location Insight

    • Map
    • Local Demand
    City
    Groton
    County
    New London
    State
    Connecticut
    Longitude
    -72.0783
    Latitude
    41.3484

    Nearby Similar for Sale

    • $360,000
      4,282 SF

      Mixed-Use Corner Lot Opportunity

      Two buildings on a corner lot in a mixed-use zone.
      48 Fort Hill Road, Groton, CT 06340
      View Details
    • $699,000
      1,995 SF

      Versatile Property Near Downtown Mystic

      Income-producing property near waterfront, shops, restaurants, and Mystic Seaport.
      12 Bank Street, Groton, CT 06355
      View Details
    • $360,000
      2,684 SF

      Mixed-Use Corner Lot Opportunity

      Corner lot with two buildings in mixed-use village center.
      48 Fort Hill Rd, Groton, CT 06340
      View Details
    • $399,000
      1,924 SF

      Groton Multifamily Investment Opportunity

      Multifamily property in Groton, CT, offering financial and residential opportunities.
      2 York Court, Groton, CT 06340
      View Details
    • $379,900
      1,425 SF

      Groton Multifamily Investment Opportunity

      Multifamily home in Groton, CT, offering financial opportunity.
      158 Midway Oval, Groton, CT 06340
      View Details
    • $3,600,000
      13,000 SF

      Fully Occupied Groton Shopping Center

      Shopping center with zero vacancy and stable cash flow.
      1303 Gold Star Highway, Groton, CT 06340
      View Details
    • $1,200,000
      2,849 SF

      Mixed-Use Property with Restaurant Business

      Mixed-use property featuring a sushi restaurant and residential house.
      1043 Poquonnock Road, Groton, CT 06340
      View Details
    • $1,050,000
      10,510 SF

      Functional Office Building Near Electric Boat

      Strategically located office asset in Groton's dynamic employment corridor.
      514-520 Thames St, Groton, CT 06340
      View Details
    • $459,000
      5,379 SF

      Professional Office and Training Facility

      5,379 Sq. Ft. office space on 0.54 acres.
      1204 North Road, Groton, CT 06340
      View Details
    • $157,000
      1,568 SF

      Professional Office Condo For Sale

      Professional office condo with rental income, convenient location.
      495 Gold Star Hwy 212, Groton, CT 06340
      View Details
    • $2,259,000
      4,909 SF

      Downtown Mystic Commercial Building

      Prime commercial property in the heart of Downtown Mystic.
      48-50 West Main Street, Groton, CT 06355
      View Details
    • $2,259,000
      4,909 SF

      Downtown Mystic Commercial Building

      Two-story commercial building in a high-traffic downtown location.
      48 West Main Street, Groton, CT 06355
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Prime parking lot near Electric Boat and Pfizer for sale.
    Where is this parking lot & garage located?
    The property is located at 572 Thames Street Groton, CT.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: High‑traffic, high‑demand location ensures consistent usage.; Proximity to Electric Boat and Pfizer drives parking demand.; Limited parking options in the area create a rare investment opportunity.
    (860) 572-9099
    We can help!
    Listing Contact
    HEATHER GIANACOPLOS
    Real Estate License ID: RES.0800582
    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
    572 Thames Street, Groton, CT 06340
    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!