Property profile

455 Portland Cobalt Rd Portland, CT 06480

OFF-MARKET
Investment properties
Property ID
US15-0671295
9.5 ac lot Built 1960
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1960
Construction WOOD FRAME
Lot 9.5 ac (413,820 SF)
Zoning code B2
APN PORT M:012 B:0031
UPID US15-0671295

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

455 Portland Cobalt Rd Portland, CT 06480-1910
Portland metro Census 560100 HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.21M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.12M

Owner & transaction history

since 2021
Last sale
$1.1M
2 recorded transactions
2021
$171,000
2015
$1.1M

Zoning & alternative use

B2 · Portland, CT

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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