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    377 Colman St New London, CT 06320

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    For Sale
    Contact for pricing

    Four-acre redevelopment opportunity in prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional four-acre commercial land assemblage presents a unique redevelopment opportunity in New London, Connecticut. Strategically located on Colman Street, the property boasts over 345 feet of frontage and wraps two corners (Colman/Cedar Grove and Colman/Elm). Its high-visibility location is directly across from Wendy's, Dunkin', Taco Bell, and McDonald's, with additional national brand restaurants like Burger King and Popeye's in close proximity. The site's convenient access to Interstate-95 further enhances its appeal. The property includes two existing commercial buildings: a 2,228 square foot single-level building with a single tenant and a 3,873 square foot single-level building housing two tenants. A significant addition is a vacant, approximately 30,000 square foot former school building situated directly behind, offering redevelopment or teardown potential with visibility and access from Cedar Grove Avenue and Elm Street. The current net operating income from the existing buildings covers all associated expenses. The C-2 zoning allows for a variety of commercial uses, making this a highly versatile and attractive investment prospect. This assemblage offers substantial potential for developers seeking a high-impact project in a thriving commercial corridor. The property is situated in New London County, Connecticut, with a zip code of 06320.

    Property Features for 377 Colman St

    General Information

    Property type
    Land
    Lot Size
    87,120 SF

    HighLights

    • 4‑acre commercial land assemblage in New London, CT, encompassing two corners at Colman Street and Cedar Grove/Elm Streets.
    • Over 345 feet of frontage across from Wendy's, Dunkin', Taco Bell, and McDonald's; nearby Burger King and Popeye's.
    • Close proximity to numerous national retailers including Valvoline, Enterprise, Dollar General, and O'Reilly Auto Parts.
    • Less than 0.5 miles from 17 new car dealerships representing various brands.
    • Direct Interstate‑95 access.
    • Includes two existing commercial buildings totaling 6,101 square feet, currently generating positive net operating income (NOI).
    Property Profile Location Intelligence

    Current Use by Public Records

    Mary L. Mooradian, ... Chiropractor Dr. Mary Lavin Chiropractor Multi-Lingual Driving School Driving School Complete Spanish Services ... Translation Service

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    New London
    State
    Connecticut
    Longitude
    -72.1157584
    Latitude
    41.359242

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    FAQs

    What type of property is this?
    Land - Four-acre redevelopment opportunity in prime location.
    Where is this land located?
    The property is located at 377 Colman St New London, CT.
    What are key features of this property?
    This property features: 4-acre commercial land assemblage in New London, CT, encompassing two corners at Colman Street and Cedar Grove/Elm Streets.; Over 345 feet of frontage across from Wendy's, Dunkin', Taco Bell, and McDonald's; nearby Burger King and Popeye's.; Close proximity to numerous national retailers including Valvoline, Enterprise, Dollar General, and O'Reilly Auto Parts.
    (860) 444-8811
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    377 Colman St New London, CT 06320
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    New London, CT 06320
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    Realmo Value Estimation

    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.

    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.

    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
    377 Colman St New London, CT 06320
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