455 Portland Cobalt Rd Portland, CT 06480-1910
- Investment properties
- 9.50 lot acres
Current Use by Public Records
- Investment properties
Property Details for 455 Portland Cobalt Rd
- Year built
- 1960
- Construction
- WOOD FRAME
- Lot size
- 9.50 lot acres
- Zone code
- B2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- PORT M:012 B:0031
- APU
- PORTM012B0031
Description
This exceptional commercial property, located at 455 Portland Cobalt Road in Portland, Connecticut, presents a unique investment opportunity. The 9.5-acre parcel boasts two existing structures, offering significant flexibility for a variety of commercial uses. One building, measuring 864 square feet, previously served as a breakfast restaurant and could be easily repurposed for a cafe, retail space, or office. The second building, a substantial 2160 square feet, was formerly a veterinary hospital and is well-suited for medical offices, clinics, or other professional services. Alternatively, the site offers the potential for complete redevelopment, allowing for the construction of a new building tailored to specific needs. The large, level lot provides ample space for parking, expansion, or additional development. The property benefits from excellent visibility, with eastbound traffic exceeding 15,200 vehicles daily, according to the Department of Transportation. Its central Connecticut location ensures convenient access to major highways, making it easily accessible to customers and clients throughout the state. This property is ideally positioned for entrepreneurs and investors seeking a high-visibility location with significant development potential. The combination of existing buildings and expansive land provides a rare opportunity to establish a thriving commercial enterprise in a prime location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,120,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,005,000
- 6.5%
- $1,075,000
- 7%
- $1,070,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $955,000
- Geo Method
- $1,230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $935,000
- Retail
- $1,165,000
- Mixed-Use
- $1,245,000
- Hospitality
- $1,055,000
- Educational
- $1,215,000
- Residential Income
- $1,050,000
- Energy
- $1,075,000
- Income-Based Land
- $985,000
- Food Service
- $1,145,000
Location Insight
- Map
- Local Demand
- City
- Portland
- County
- Middlesex
- State
- Connecticut
- Longitude
- -72.6219
- Latitude
- 41.5685
- CBSA code
- 25540
- CBSA name
- HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
