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    135 Route 32 Franklin, CT 06254
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    135 Route 32, Franklin, CT 06254

    View on Map
    • Industrial land
    • 87.00 lot acres
    For Sale
    $1,750,000
    View Listing →
    Land For Sale
    $1,750,000
    87.00 Acres

    Land

    Commercial land · 87.00 Acres

    135 Route 32, Franklin, CT 6254
    View Listing
    Property ID
    US15-0608139
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Industrial land

    Property Details for 135 Route 32

    Lot size
    87.00 lot acres
    Zone code
    IND
    Property type
    Industrial land
    APN
    FRAN M:44 B:28
    APU
    FRANM44B28

    Description

    This exceptional 87-acre parcel presents a significant development opportunity in Franklin, Connecticut. Located on Route 32, the property boasts extensive road frontage, offering excellent visibility and accessibility. The land is zoned for industrial use, providing flexibility for a variety of projects. Utilities are readily available, including water, sewer, and natural gas, simplifying the development process. Its strategic location offers convenient access to major transportation arteries, including Routes 2 and 32, and is just minutes away from Interstate 395, ensuring seamless connectivity to regional and national markets. The sloping terrain of this sizable lot provides potential for creative site planning and development. This is an ideal location for businesses seeking a prominent presence in a thriving area with strong infrastructure support. The asking price for this substantial land holding is $1,750,000. Serious inquiries are encouraged. The property is situated in New London County, Connecticut, with a zip code of 06254. The address is 135 Route 32, Franklin, CT.

    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
    North Franklin
    County
    New London
    State
    Connecticut
    Longitude
    -72.1291
    Latitude
    41.5799
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $14,636
    $637,190
    $0.00
    $637,190
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      11.61 Acres

      New Park Ave

      INDUSTRIAL - VACANT LAND
      New Park Ave, Franklin, CT 06254
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      2.26 Acres

      110 New Park Ave

      INDUSTRIAL - VACANT LAND
      110 New Park Ave, North Franklin, CT 06254-1807
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      9.70 Acres

      Rte 32

      INDUSTRIAL - VACANT LAND
      Rte 32, Franklin, CT 06254
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      99.00 Acres

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      INDUSTRIAL - VACANT LAND
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      1.91 Acres

      152-R Rte 163

      INDUSTRIAL - VACANT LAND
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      View Details

    Similar Nearby for Sale

    • Contact for pricing

      87 Acres Commercial/Industrial Land

      87 acres of commercial/industrial land near Routes 2 & 32.
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      52 Acres Prime Land

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      Commercial Land with Development Potential

      Commercial land for sale with approved building plans.
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    Similar Nearby for Lease

    • $10 SF/Yr
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      Franklin Industrial Building Sublease

      20,400 SF industrial building available for sublease.
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      900 SF

      Retail Space Available For Rent

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      North Franklin Flex/Industrial Space

      Flex/industrial space available for lease in North Franklin, CT.
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      View Details
    • $5,000 /Mo
      4,000 SF

      Route 32 Commercial Opportunity

      High-visibility commercial space suitable for auto repair or dealership.
      192 Route 32, Franklin, CT 06254
      View Details
    View Listing
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    Franklin, CT 06254
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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.

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    135 Route 32, Franklin, CT, 06254
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