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    Property profile & analytics

    61 Deerwood Dr Killingly, CT 06239

    • Commercial real estate
    • 84.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1023752
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 61 Deerwood Dr

    Lot size
    84.50 lot acres
    Property type
    Commercial real estate
    APN
    138-12

    Description

    This exceptional 84.5-acre land parcel in Killingly, Connecticut (APN 138-12, 61 Deerwood Dr, 06239), presents a unique opportunity to develop 51 fully approved 55+ senior housing units. The property is zoned L D and is part of the established Briarwood Falls community, boasting an existing 4,000 square foot clubhouse. Phases III & IV of this project are ready for immediate development, with all utilities in place and complete site plans available, including architectural drawings for 1,250, 1,450, and 1,600 square foot unit designs. The estimated cost for road and utility infrastructure is $1,795,000, resulting in an estimated cost per lot of $48,901. This development benefits from its convenient location, minutes from Killingly Center and Killingly Commons, and within a half-hour's drive of area casinos. The strong market demand is evidenced by the sale of the last two units in 2021 for $370,000 and $385,000, respectively. A total of 92 units have already been sold within the Briarwood Falls community between 2006 and 2018. This is an outstanding investment opportunity for developers seeking to capitalize on the growing demand for senior housing in a desirable location. The asking price for this prime development land is $699,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Killingly
    County
    Windham
    State
    Connecticut
    Longitude
    -71.866666
    Latitude
    41.831891

    Comparable in this City

    • $275,000

      Killingly Two-Family Home

      Two-unit residential property with investment potential in Killingly, Connecticut.
      110 Franklin St, Danielson, CT 06239
      View Details
    • $399,000

      Killingly Four-Family Home

      Four-unit property with long-term tenants and city utilities.
      51 Maple St, Danielson, CT 06239
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    • $99,900

      Updated Mobile Home in Killingly

      Updated 1-bedroom mobile home with wooded views in Killingly.
      17 Hillside Ter, Killingly, CT 06239
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    • $549,900

      Danielson Multifamily Property For Sale

      Multifamily property in Danielson, CT, available for purchase.
      409 Main St, Danielson, CT 06239
      View Details
    • $374,900
      3,029 SF

      Killingly Four-Family Investment Opportunity

      Four-family home in Killingly, Connecticut, with income potential.
      133 Maple St, Killingly, CT 06239
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    • $279,000

      Four-Unit Multifamily Property

      Four-unit multifamily with renovation potential on a corner lot.
      102 Cottage St, Danielson, CT 06239
      View Details

    Similar Nearby for Sale

    • $275,000

      Killingly Two-Family Home

      Two-unit residential property with investment potential in Killingly, Connecticut.
      110 Franklin St, Danielson, CT 06239
      View Details
    • $399,000

      Killingly Four-Family Home

      Four-unit property with long-term tenants and city utilities.
      51 Maple St, Danielson, CT 06239
      View Details
    • $99,900

      Updated Mobile Home in Killingly

      Updated 1-bedroom mobile home with wooded views in Killingly.
      17 Hillside Ter, Killingly, CT 06239
      View Details
    • $549,900

      Danielson Multifamily Property For Sale

      Multifamily property in Danielson, CT, available for purchase.
      409 Main St, Danielson, CT 06239
      View Details
    • $374,900
      3,029 SF

      Killingly Four-Family Investment Opportunity

      Four-family home in Killingly, Connecticut, with income potential.
      133 Maple St, Killingly, CT 06239
      View Details
    • $279,000

      Four-Unit Multifamily Property

      Four-unit multifamily with renovation potential on a corner lot.
      102 Cottage St, Danielson, CT 06239
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo

      Cozy Apartment Near Riverfront Shops

      One-bedroom apartment near riverfront shops and restaurants in Danielson, CT.
      47 Commerce Ave, Danielson, CT 06239
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    • $1,500 /Mo
      1,024 SF

      Office Space Available for Rent

      Office space for rent, 1024 square feet in Killingly.
      543B Wauregan Rd, Killingly, CT 06239
      View Details
    • $12 SF/Yr
      1,275 SF

      Danielson Office/Retail Space Available

      Subdividable office/retail space in Killingly, near I-395.
      71 Westcott Rd, Killingly, CT 06239
      View Details
    • $2,000 /Mo
      3,930 SF

      Downtown Retail Space with Patio

      Retail space in downtown Danielson with high traffic and parking.
      21 Furnace St, Killingly, CT 06239
      View Details
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    61 Deerwood Dr
    Killingly, CT 06239
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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.

    More about this property
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