11 Woodland Rd Ste 1a, Madison, CT 06443-2380
- Office Spaces
- 5,590 SF
Current Use by Public Records
- Ecker & Ecker / Ophthalmologist / (Bike/Boat/Book/etc) Store
- Yale Rheumatology / Medical Clinic
- Lang Robert MD / Physician
- Christine Saari Yoga Therapy / Gym & Fitness Center
- Leros Point to Point / Bus Charter / Bus Company
Property Details for 11 Woodland Rd Ste 1a
- Year built
- 1984
- Zone code
- R-1
- Property type
- Office Spaces
- APN
- MADI M:48 B:60-005
- APU
- MADIM48B60005
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 22, 1998 | — | Lang Rlty LLC | — | Deed Of Trust · related | $536k · Citizens Savings Bank Ct |
| Mar 18, 1998 | — | Lang Rlty LLC | — | Deed Of Trust · related | $150k · Maritime Bank & Trust |
| Oct 1, 1997 | $270,000 | Lang Realty LLC | Kinsley,george J Tr | Warranty Deed | $270k · Maritime Bank & Trust |
| Oct 1, 1997 | — | Lang Realty LLC | — | Deed Of Trust · related | $95k · Maritime Bank & Trust |
Description
This exceptional 5,590 square foot medical office condominium, located at 11 Woodland Road, Unit 1A in Madison, Connecticut, presents a unique owner-user opportunity. Situated in a Class B building constructed in 1984 and renovated in 1990, this second-floor unit boasts private elevator access and is ideally suited for a variety of medical uses. The space is currently vacant and features a full medical fit-up, including nine plus spacious private offices, a large conference room, open workstation areas, a sizable reception area, several exam/treatment rooms, a full kitchen, three lavatories, one full bathroom, ample file storage, and laundry hookups. The flexible layout allows for customization to suit individual needs, with the potential to combine or separate various spaces. The property is zoned R-1 and offers a significant advantage with its convenient location off I-95. The asking price is $635,000, representing a compelling value-add investment. Comparable medical office properties in the shoreline area command market rents of $18.00 to $22.00 per square foot, triple net (NNN), presenting a strong potential for rental income should the owner choose to lease a portion of the space. This single-unit, two-story building presents a rare opportunity to own a fully equipped medical office space in a prime location.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $611,000
Market price range: $467k - $1.08M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $690,000 Current use
- RESTAURANT
- $815,000 Change: +19% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $630,000 Change: -9% Conversion: Easy
- RETAIL STORES
- $605,000 Change: -12% Conversion: Moderate
- APARTMENT HOUSE (5+ UNITS)
- $585,000 Change: -15% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Madison
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.6025
- Latitude
- 41.2852
- CBSA code
- 35300
- CBSA name
- NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA
