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    1 Ballahack Rd East Haddam, CT 06423

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    1 Ballahack Rd East Haddam, CT 06423

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

    Current Use by Public Records

    • Land

    Property Details for 1 Ballahack Rd

    Lot size
    63.74 lot acres
    Property type
    Land

    Description

    This exceptional 63.74-acre parcel in desirable East Haddam, Connecticut, presents a remarkable development opportunity. Preliminary engineering and site plans have already been completed, outlining the potential for six residential lots. One of these lots boasts approximately 60 feet of direct frontage on picturesque Bashan Lake (also known as Little Pond). The property enjoys a prime location bordering the Bashan Lake boat launch, offering residents convenient access to recreational activities. Situated in the historic town of East Haddam, this land is close to renowned attractions such as the Goodspeed Opera House, The Gelston House, the East Haddam Swing Bridge, and Gillette's Castle. Its convenient proximity to Routes 2 and 9 ensures easy access to major highways. The seller is open to considering a free split option, providing flexibility for potential buyers. This is a rare chance to acquire a substantial tract of land with significant development potential in a highly sought-after Connecticut location, capitalizing on the current housing shortage. The property's unique features and strategic location make it an ideal investment for developers or those seeking a large-scale residential project. The existing preliminary engineering and lot layout significantly reduce the time and cost associated with initial development phases. This is a truly exceptional opportunity not to be missed. The zip code is 06423, and the property is located in Middlesex County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    East Haddam
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.3956
    Latitude
    41.4781

    Comparable in this City

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      27.00 Acres

      155 Bashan Rd

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    • Value Estimation
      $1,000,000
      11,265 SF

      83 Main St

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    • Value Estimation by Request
      2,290 SF

      7 Norwich Rd

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    • Value Estimation by Request
      3,706 SF

      454 Town St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,706 SF
      454 Town St, East Haddam, CT 06423-5300
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    • Value Estimation by Request
      3,325 SF

      14 Ray Hl Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,325 SF
      14 Ray Hl Rd, East Haddam, CT 06423-1353
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    • Value Estimation by Request
      5,083 SF

      479 Town St

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,083 SF
      479 Town St, East Haddam, CT 06423-1393
      View Details

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    Similar Nearby for Lease

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    1 Ballahack Rd
    East Haddam, CT 06423
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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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