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    Multifamily with Steel Building Title is generated by Realmo AI

    730-732 Plainfield Road, Griswold, CT 06351

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    For Sale
    $599,999

    Two-family home and steel building for storage or commercial use.

    Type:Commercial
    Property size:
    5,016 SF
    Lot size:
    1.60 Acres
    Price / SF:
    $119/SF
    Added:
    Nov 13, 2025
    Days on Market:
    177
    Last Refresh:
    Apr 5 at 9:15 pm

    Property Features for 730-732 Plainfield Road

    General Information

    Standard status
    Active
    Size
    5,016 SF
    Lot size
    1.60 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1938

    We can help!

    Listing Contact
    HEATHER GIANACOPLOS

    Listing agent HEATHER GIANACOPLOS License #RES.0800582

    Listing office Compass Connecticut, LLC

    Listing date Nov 13, 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

    • 40' x 80' steel building with two 12' doors and one 10' door.
    • Fully remodeled 2‑bedroom, 2‑full bath unit with stainless steel appliances and stone countertops.
    • Second floor is a gutted 1‑bedroom unit, ready for customization.
    • Steel building has a clear‑span interior, frost‑footed foundation, and rough electric, rough plumbing and framing in place.
    • 2‑bedroom unit will be vacated upon closing.
    • Approved site plan available upon request.

    Overview

    The property features a two-family home and a 40' x 80' steel building. The main house includes a remodeled two-bedroom unit with two full bathrooms on the first floor, featuring stainless steel appliances, stone countertops, and a primary bedroom with an ensuite. The second floor is a gutted one-bedroom unit, ready for customization. The steel building offers two 12' doors and one 10' door, a clear-span interior, a frost-footed foundation, and rough electric, rough plumbing, and framing. It is suitable for storage, a workshop, or commercial use. The two-bedroom unit will be vacated upon closing. Currently, there is one tenant in place in the steel building utilizing only a fraction of the square footage and one door. An approved site plan is available upon request. The property size is 5016 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Auto Repair Shop Gym & Fitness Center Auto Parts Store Grocery & Convenience Store Garden Center Discount Store Electrical Service Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Griswold
    County
    New London
    State
    Connecticut
    Longitude
    -71.95696
    Latitude
    41.63492

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    FAQs

    What type of property is this?
    Duplex - Two-family home and steel building for storage or commercial use.
    Where is this duplex located?
    The property is located at 730-732 Plainfield Road Griswold, CT.
    What is the asking price?
    The asking price for this property is $599,999.
    What are key features of this property?
    This property features: 40' x 80' steel building with two 12' doors and one 10' door.; Fully remodeled 2‑bedroom, 2‑full bath unit with stainless steel appliances and stone countertops.; Second floor is a gutted 1‑bedroom unit, ready for customization.
    (860) 572-9099
    We can help!
    Listing Contact
    HEATHER GIANACOPLOS
    Real Estate License ID: RES.0800582
    Learn More
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    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
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