Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2 Mansfield City Rd Mansfield, CT 06250
    Property profile & analytics

    2 Mansfield City Rd Mansfield, CT 06250

    View on Map
    • Commercial real estate
    • 41.00 lot acres
    For Sale
    View Listing →
    Land For Sale Mansfield For Sale
    Contact for pricing
    41.00 Acres

    Land For Sale Mansfield

    Land available for sale in Mansfield, Connecticut.

    2 Mansfield City Rd, Mansfield, CT
    View Listing
    Property ID
    US15-1083930
    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

    • Commercial real estate

    Property Details for 2 Mansfield City Rd

    Lot size
    41.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 41-acre development opportunity in Mansfield, Connecticut, presents a compelling investment prospect. Located at 2 Mansfield City Road, this prime parcel sits at the corner of Mansfield City Road and Pleasant Valley Road, conveniently abutting Eastern Connecticut State University's athletic fields. The property boasts a conceptual plan for a 231-unit multifamily development, envisioned across 11 buildings. A conservation easement and dedicated open space will provide residents with passive recreational areas. The site benefits from readily available public water and sewer services, and a nearby bus stop provides convenient access to the Windham Regional Transit District (WRTD). Its strategic location offers proximity to downtown Willimantic and is only 10 minutes from the University of Connecticut, capitalizing on the high demand for student housing in this thriving market. Eastern Connecticut State University currently enrolls 5,832 undergraduate and 1,000 graduate students, while the University of Connecticut boasts an impressive 19,241 undergraduate and 7,098 graduate students. The property is zoned PVRA, offering significant development potential. This is a rare opportunity to acquire a substantial land parcel with a well-defined plan in a location with strong demographics and convenient amenities.

    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
    Mansfield
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.2201349
    Latitude
    41.7372387

    Comparable in this City

    • $1,895,000
      10,208 SF

      Key Bank Investment Opportunity

      NNN property near hospitals and universities on Route 195.
      6 Storrs Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing

      Land For Sale Mansfield

      Land available for sale in Mansfield, Connecticut.
      2 Mansfield City Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing
      1,778 SF

      Office/Medical Building Near UConn

      Well-located office/medical building with expansion potential near UConn.
      365 Storrs Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing
      8,502 SF

      Three-Tenant Plaza in Mansfield, CT

      8,502 SF plaza with Aspen Dental, Five Guys, Chipotle.
      96 Storrs Rd, Mansfield, CT 06250
      View Details
    • $75,000
      0.30 Acres

      Land Near Mansfield Hollow Park

      Residential land parcel abutting scenic Mansfield Hollow State Park.
      368 Warrenville Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing

      Commercial Land Near Storrs Road

      Land suitable for medical, residential, warehouse, entertainment, or hotel.
      132-134 Conantville Rd, Mansfield, CT 06250
      View Details

    Similar Nearby for Sale

    • $1,895,000
      10,208 SF

      Key Bank Investment Opportunity

      NNN property near hospitals and universities on Route 195.
      6 Storrs Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing

      Land For Sale Mansfield

      Land available for sale in Mansfield, Connecticut.
      2 Mansfield City Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing
      1,778 SF

      Office/Medical Building Near UConn

      Well-located office/medical building with expansion potential near UConn.
      365 Storrs Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing
      8,502 SF

      Three-Tenant Plaza in Mansfield, CT

      8,502 SF plaza with Aspen Dental, Five Guys, Chipotle.
      96 Storrs Rd, Mansfield, CT 06250
      View Details
    • $75,000
      0.30 Acres

      Land Near Mansfield Hollow Park

      Residential land parcel abutting scenic Mansfield Hollow State Park.
      368 Warrenville Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing

      Commercial Land Near Storrs Road

      Land suitable for medical, residential, warehouse, entertainment, or hotel.
      132-134 Conantville Rd, Mansfield, CT 06250
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,705 SF

      Prime Retail Space in Mansfield

      1705 SF retail space in a new development.
      1725 Storrs Rd, Mansfield, CT 06250
      View Details
    • $900 /Mo
      270 SF

      Renovated Office Suite with Charm

      Private first-floor office suite with shared amenities and utilities included.
      211 Storrs Rd, Mansfield, CT 06250
      View Details
    • Contact for pricing

      Commercial Land for Lease

      2.95 acres of commercial land available for lease.
      86 Storrs Rd, Mansfield, CT 06250
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2 Mansfield City Rd
    Mansfield, CT 06250
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2 Mansfield City Rd, Mansfield, CT, 06250
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!