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    Willimantic Tpke Coventry, CT 06238
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    Willimantic Tpke, Coventry, CT 06238

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    • Land
    • 140.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Willimantic Tpke

    Lot size
    140.00 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 140-acre development opportunity is located at the intersection of Route 6 and South Street in Coventry, Connecticut, offering unparalleled potential for a diverse range of commercial, industrial, and residential uses. Zoned Commercial (C), this expansive parcel presents a unique chance to capitalize on its strategic location near I-84 and I-291, providing easy access to major transportation arteries. The asking price is $3,999,000, translating to $28,564 per acre. Given its I-2 designation, permitted uses are extensive and include, but are not limited to: light industrial, manufacturing, wholesale trade and storage, warehousing, construction, business services, corporate headquarters, public utility structures, restaurants, indoor/outdoor sporting facilities, lodging, golf driving ranges, self-storage facilities, and breweries. The property's size and zoning flexibility make it ideal for large-scale development projects, offering significant long-term investment potential. This is a rare opportunity to acquire a substantial tract of land in a desirable Connecticut location with exceptional development possibilities. The property is for sale by owner. The address is Willimantic Turnpike, Coventry, CT 06238.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Coventry
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.4072
    Latitude
    41.7692

    Comparable in this City

    • Value Estimation
      $3,165,000
      1.83 Acres

      138 Main St

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      138 Main St, Coventry, CT 06238-3318
      View Details
    • Value Estimation by Request
      63.50 Acres

      327 Brigham Rd

      INDUSTRIAL (GENERAL)
      327 Brigham Rd, Coventry, CT 06238-1703
      View Details
    • Value Estimation by Request
      26.49 Acres

      Main St

      INDUSTRIAL (GENERAL)
      Main St, Coventry, CT 06238
      View Details
    • Value Estimation by Request
      48.00 Acres

      Babcock Hl Rd

      INDUSTRIAL (GENERAL)
      Babcock Hl Rd, Coventry, CT 06238
      View Details
    • Value Estimation by Request
      2,400 SF

      62 Folly Ln

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      62 Folly Ln, Coventry, CT 06238-1211
      View Details
    • Value Estimation by Request
      3,312 SF

      738 Babcock Hl Rd

      APARTMENT HOUSE (UNDER 5 UNITS)
      738 Babcock Hl Rd, Coventry, CT 06238-3477
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Coventry Land with Existing Building

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      View Details
    • $759,900
      Pending

      Coventry Land For Sale

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    • $50,000
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      Coventry Land with Views

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    • Contact for pricing
      40,834 SF

      Two Historic Mill Buildings

      Two historic mill buildings totaling 40,834 SF on 1.74 AC.
      28-30 Mason St, Coventry, CT 06238
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      700 SF

      Renovated Unit in Historic Colonial

      Recently renovated 700 sqft unit in a historic building.
      1365 Main St, Coventry, CT 06238
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    • $2,650 /Mo

      Spacious Colonial Near UConn Campus

      4-5 bedroom colonial, convenient location, landlord services included.
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    • Contact for pricing
      1,750 SF

      Spacious Colonial Near UConn Campus

      4-5 bedroom colonial, convenient location, landlord services included.
      955 Main St, Coventry, CT 06238
      View Details
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    Coventry, CT 06238
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    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
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