Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    97R Preston Rd Griswold, CT 06351

    For Sale
    $299,000

    18.6 Acres, C-1 Zoning, High Potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 18.06-acre parcel in Griswold, Connecticut, presents a remarkable opportunity for multifamily development. Located at 97R Preston Rd, 06351, in New London County, this C-1 zoned land boasts significant potential for various uses. Public water, sewer, and gas are readily available at the street, enhancing the feasibility of construction. An existing right-of-way provides convenient access, as detailed in supplementary documents. The property's strategic location offers excellent visibility and accessibility, with a reported traffic count of 1310 vehicles. The annual property taxes are $2,629. This expansive site is ideal for a range of projects, including market-rate multifamily housing, senior living facilities (elderly housing or assisted living), flexible-use spaces, hotels, or office buildings. The site's size and zoning regulations offer considerable flexibility for developers seeking to create a significant residential or mixed-use development in a desirable Connecticut location. Detailed information regarding access and zoning is available upon request. The asking price for this prime development opportunity is $299,000.

    Property Features for 97R Preston Rd

    General Information

    Property type
    Retirement homes

    HighLights

    • 18.06 Acres of land in Griswold, CT.
    • Public water and sewer available at the street.
    • C‑1 zoning.
    • Annual property taxes: $2,629.
    • 1310 daily vehicle traffic count.
    • Potential uses include multifamily, market‑rate housing, senior living, flexible‑use space, hotel, and office.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retirement homes

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Griswold
    County
    New London
    State
    Connecticut
    Longitude
    -71.97906
    Latitude
    41.5914775

    Nearby Similar for Sale

    • $649,999
      Pending

      Griswold Mixed-Use Property For Sale

      Two-family home and steel building suitable for commercial use.
      730 Plainfield Rd, Griswold, CT 06351
      View Details
    • $500,000
      4,660 SF

      Mixed-Use Property with Income Potential

      Commercial space with residential apartment, ideal for diverse business ventures.
      167-169 Slater Ave, Griswold, CT 06351
      View Details
    • $149,900

      Seasonal Park Model Home

      Furnished 1-bedroom park model home with lake access.
      262 Shetucket Tpke, Griswold, CT 06351
      View Details
    • $374,900

      Lakefront Cottage with Income Potential

      Charming, fully furnished 2-bedroom cottage on the lake.
      71 Lake Rd, Griswold, CT 06351
      View Details
    • $449,000

      Former Knights of Columbus Hall

      Former hall with renovation, addition, and river border.
      65 S Main St, Griswold, CT 06351
      View Details
    • $134,900

      55+ Community Mobile Home

      Mobile home with basement, garage, and enclosed porch.
      1564 Glasgo Rd, Griswold, CT 06351
      View Details

    FAQs

    What type of property is this?
    Retirement home - 18.6 Acres, C-1 Zoning, High Potential.
    Where is this retirement home located?
    The property is located at 97R Preston Rd Griswold, CT.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: 18.06 Acres of land in Griswold, CT.; Public water and sewer available at the street.; C-1 zoning.
    Request Owner's contact information
    97R Preston Rd Griswold, CT 06351
    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.
    97R Preston Rd
    Griswold, CT 06351
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    97R Preston Rd Griswold, CT 06351
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.