647 Mtn Rd Newington, CT 06111-1349
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BAPS Shri Swaminarayan Mandir Temple
Planned Business Zone (PD), Business Zone (B) and Industrial Zone (I), or the special requirements of this Section. This is not intended to prohibit any use otherwise permitted in the PD, B and I zones. Rather, its purpose is to give property owners the ability to use proximity to CTfastrak to leverage development of greater community and/or economic value.…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
B · Newington, CTPlanned Business Zone (PD), Business Zone (B) and Industrial Zone (I), or the special requirements of this Section. This is not intended to prohibit any use otherwise permitted in the PD, B and I zones. Rather, its purpose is to give property owners the ability to use proximity to CTfastrak to leverage development of greater community and/or economic value. C. The TOD Overlay District is bounded on the north by Holly Drive/Ella Grasso Boulevard; on the east by property of the National Railroad Passenger Corporation (Amtrak); on the south by a line parallel to and approximately 2000’ south of Cedar Street; and on the west by CT Route 9. 3.19.A.2 Purpose: A. The purpose of the TOD Overlay District is to promote high quality development within walking distance of the CTfastrak station on Myra Cohen Way which will grow Newington’s grand list, create employment, and provide Newington residents with additional retail, commercial, residential and entertainment opportunities. B. Such development shall be in accordance with the 2020 Plan of Conservation and Development’s “General Goal” of locating development in places and at densities which support 34 the desired overall character of Newington, including smaller mixed land uses adjacent to transit stations (Page 24 of the 2020 Plan of Conservation and Development). C. This purpose will be achieved through the following specific objectives and uses: 1. Mixed-use development, which will provide opportunities to live, work, shop, and/or be entertained within a single project, and when appropriate, in the same building. 2. Dining and entertainment clusters. 3. Bioscience, advanced manufacturing, aerospace engineering, information technology, and other advanced technologies. 3.19.A.3. Definitions: A. “Mixed-use development” shall mean development on a single parcel (or adjacent parcels with shared parking) that contains at least one of each of two or more of the following types of uses: 1. Retail (including dining and entertainment) 2. Office 3. Industrial (including research and light manufacturing) 4. Residential B. “Dining and entertainment cluster” shall mean development on a single parcel (or adjacent parcels with shared parking) that contains two or more restaurants, bars, theaters, or entertainment venues. 3.19.A.4. Incentives: A. Development proposals that contain any of the “specific objectives and uses” described in Paragraph 2.c may be eligible for the following incentives: 1. Less mandatory landscaping (i.e. more useable floor area). 2. Less mandatory on-site parking. 3.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.