Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2268 Ct-32 Montville, CT 06382
    Back to Search
    Property profile & analytics

    2268 Ct-32, Montville, CT 06382

    View on Map
    • Retail properties & Spaces
    • 3.36 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2268 Ct-32

    Lot size
    3.36 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 3.36-acre commercial land parcel in Montville, Connecticut, presents a unique investment opportunity. Located at a traffic-lighted intersection on Route 32, this property boasts 412 feet of frontage and enjoys a high traffic count of 19,600 vehicles. Its strategic location offers unparalleled access to major roadways, including proximity to Route 2A (0.2 miles from Exit 5), I-395 (Exit 9 to 2A), and Route 12 in Preston (2 miles). The property is situated just one mile from the renowned Mohegan Sun Resort & Casino, ensuring high visibility and potential for significant foot traffic. Zoned C-1 Commercial, this assemblage of three parcels (#2268: 1.43 acres, #2280: 0.21 acres, #2284: 1.72 acres) benefits from public water and sewer access. The property's high traffic volume, prime location, and convenient access to major transportation routes make it ideal for a variety of commercial developments. Detailed survey and concept plans are available upon request. Annual property taxes are $23,716. The asking price for this exceptional investment opportunity is $1,200,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Montville
    County
    New London
    State
    Connecticut
    Longitude
    -72.1011
    Latitude
    41.4866

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      863 Norwich-New London Tpke

      Restaurants
      863 Norwich-New London Tpke, Montville, CT 06382
      View Details
    • Value Estimation by Request
      10,742 SF

      1031 Norwich-New London Tpke

      Restaurants
      1031 Norwich-New London Tpke, Montville, CT 06382
      View Details
    • Value Estimation by Request
      2,400 SF

      863 Norwich-New London Tpke

      Restaurants
      863 Norwich-New London Tpke, Montville, CT 06382
      View Details
    • Value Estimation by Request
      3,576 SF

      2210 Norwich New London Tpke

      GAS STATION
      2210 Norwich New London Tpke, Uncasville, CT 06382
      View Details
    • Value Estimation by Request
      2,484 SF

      2191 Norwich New London Tpke

      GAS STATION
      2191 Norwich New London Tpke, Uncasville, CT 06382-1334
      View Details
    • Value Estimation by Request
      10,400 SF

      1031 Norwich-New London Tpke

      Neighborhood centers
      1031 Norwich-New London Tpke, Montville, CT 06382
      View Details

    Similar Nearby for Sale

    • $649,000
      1,800 SF

      Montville Commercial Redevelopment Opportunity

      High-visibility commercial property with redevelopment potential on Route 32.
      641 Route 32, Montville, CT 06382
      View Details
    • $349,927
      628 SF

      Commercial Property on High-Visibility Lot

      Highly visible commercial property on 1.3 acres, Route 32 frontage.
      1105 Norwich New London Tpke, Montville, CT 06382
      View Details
    • Contact for pricing

      Vacant Wooded Land For Sale

      30.24 acres of wooded land, close to Mohegan Sun.
      5 Richard Brown Dr, Montville, CT 06382
      View Details
    • $297,000
      55.85 Acres

      Expansive Land in Montville, CT

      55+ acre land parcel in a peaceful, convenient location.
      320 Maple Ave, Montville, CT 06382
      View Details
    • $425,000
      628 SF

      Montville Commercial Property - Prime Location

      Established Business, High Traffic, Endless Potential
      1105 Norwich New London Tpke, Montville, CT 06382
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Retail/Office Space on Route 32

      Retail and office spaces available in a highly visible plaza.
      1031 Norwich-New London Tpke, Uncasville, CT 06382
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space Near Mohegan Sun

      Retail space anchored by Stop & Shop near Mohegan Sun.
      2020 Norwich New London Tpke, Uncasville, CT 06382
      View Details
    • $1.00 SF/Yr
      1,530 SF

      Retail Pad Sites Available

      Retail pad sites for lease near major retailers and casino.
      1874 Norwich New London Tpke, Montville, CT 06382
      View Details
    • Contact for pricing

      Land for Rent Montville

      Land available for rent in Montville, Connecticut.
      11 Cook Dr, Montville, CT 06382
      View Details
    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.
    2268 Ct-32
    Montville, CT 06382
    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
    2268 Ct-32, Montville, CT, 06382
    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!