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    OFF-MARKET
    Land

    404 Berlin Tpke, Berlin, CT 06037

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    AI-generated overview

    Exceptional development opportunity in Berlin, CT, featuring two available lots totaling 445+/- feet of frontage on Berlin Turnpike. One lot has approval for a 7,400 sq ft retail building, priced at $750,000, while the other boasts approval for a 100-room hotel, listed at $1,250,000. Both parcels are delivered 12" below finished grade. This prime location is part of a mixed-use community currently under construction, including 200 apartments and a convenience store with a coffee shop. A land lease is also available. The project's phased approach includes a 10-pump gas station, a 3,320 sq ft convenience store with a 1,000 sq ft drive-through, a 200-unit apartment complex (160 market rate, 40 affordable units) with clubhouse and pool, a 4,780 sq ft retail building, a 2,500 sq ft bank, and a 100+ room hotel. The entire project will offer 478 parking spaces. The BTD zoning permits this diverse development. This is a unique chance to acquire land in a thriving mixed-use community with significant development potential. Ownership is held by BT-2008, LLC.

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    Property type Land
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    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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