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

    Route 188 & Benson Road Middlebury, CT 06762

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land available for sale or build to suit.

    Type:Land
    Added:
    Nov 29, 2018
    Days on Market:
    2685
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for Route 188 & Benson Road

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    David Theroux

    Listing agent David Theroux License #CT REB.0677995

    Listing office Drubner Commercial Real Estate Services

    Listing date Nov 29, 2018

    Source Crexi

    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 Drubner Commercial Real Estate Services

    Overview

    Commercial Land For Sale

    This commercial land offers the potential to construct an 8,400 square foot single-level building. The property may be suitable for retail development due to the possibility of a retail zone extension. The site is available for sale or build to suit.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Middlebury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.1226
    Latitude
    41.5279

    Nearby Similar for Sale

    • $599,900
      2,345 SF

      Middlebury Multifamily Investment Opportunity

      Four units in Middlebury, CT, with pool and garages.
      10 Old Waterbury Road, Middlebury, CT 06762
      View Details
    • $789,000
      2,686 SF

      Commercial Building on 1.22 Acres

      Commercial zoned building on 1.22 acres in Middlebury, CT.
      1600 Straits Tpke, Middlebury, CT
      View Details
    • $1,900,000
      6,106 SF

      Medical Office Building For Rent

      Turn-key medical office space available with convenient highway access.
      687 Straits Tpke, Middlebury, CT
      View Details
    • $200,000

      Middlebury Land in New Subdivision

      1.13 acre lot in new subdivision for sale.
      288 Watertown Road lot: 5, Middlebury, CT 06762
      View Details
    • $900,000

      Land with Highway Visibility

      Land available with highway visibility and tax benefits.
      1000 Southford Rd, Middlebury, CT
      View Details
    • $399,000

      Land For Sale Middlebury

      Land available for sale in Middlebury, Connecticut.
      1140 Southford Rd, Middlebury, CT
      View Details
    • $3,900,000

      Land For Sale Middlebury

      Land available for sale in Middlebury, Connecticut.
      1700 Straits Tpke, Middlebury, CT
      View Details
    • $295,000
      2,001 SF

      Middlebury Office Space For Rent

      2,001 square foot office space available for rent.
      1579 Straits Tpke, Middlebury, CT
      View Details
    • $995,000

      Middlebury Commercial Property For Sale

      Commercial property available for sale in Middlebury, Connecticut.
      927 Southford Rd, Middlebury, CT 06762
      View Details
    • $900,000
      12,000 SF

      Approved Building Site Available

      Approved site for a 12,000 SF building.
      1000 Southford Road, Middlebury, CT 06762
      View Details
    • $495,000
      6,500 SF

      Land Approved for Two-Story Building

      Commercial land approved for a 13,000 SF two-story building.
      1395 West Street, Middlebury, CT 06762
      View Details
    • $560,000

      Corner Acre with Light

      One-acre corner lot at Route 63 & 64 intersection.
      1171 Straits Turnpike, Middlebury, CT 06762
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land available for sale or build to suit.
    Where is this commercial land located?
    The property is located at Route 188 & Benson Road Middlebury, CT.
    What are key features of this property?
    This property features: Build up to 8,400 SF on a single level.; Potential for retail zone expansion.; Sale or build to suit options offer flexibility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Theroux
    Real Estate License ID: CT REB.0677995
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!