Current Use by Public Records
- Warehouses
Property Details for 1531 Ct-163
- Year built
- 1968
- Lot size
- 1.10 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents two commercial buildings totaling 9,661 square feet on a 1.1-acre corner lot in Montville, CT. Located at 1531 Route 163, this property boasts high visibility and traffic counts of 4,900 vehicles per day, due to its prime location on Routes 82 and 163. The property features 14 overhead doors distributed across the two buildings: Building 1 offers 3,515 square feet, while Building 2 provides 6,146 square feet. Currently, one tenant occupies the space under a month-to-month lease, generating $1,248 in monthly rent. The property is zoned C-1 and was built in 1968. Ample on-site parking is available. This owner-user opportunity is priced at $550,000, or $56.93 per square foot, making it an attractive investment in a high-traffic area. The property is ideal for a variety of uses, including car repair, garage, flex space, manufacturing, and warehouse operations. This is a rare chance to acquire a well-situated industrial property with significant potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montville
- County
- New London
- State
- Connecticut
- Longitude
- -72.201
- Latitude
- 41.502
