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Property profile & analytics
OFF-MARKET Estimated value $910,000
Industrial properties

66 Killingworth Rd Higganum, CT 06441-4241

11,090 SF 1 ac lot Built 1920
Individually Owned 6-yr Hold ~ Est. High Equity
Property ID
US15-0332924
Property summary
AI-generated overview

This exceptional 11,000 square foot flex space property in Haddam, Connecticut, presents a lucrative investment opportunity. Located at 66 Killingworth Rd, 06441, this property boasts a prime location directly across from a scenic reservoir, offering stunning water views. The building is comprised of two distinct sections. The front 3,200 square feet is currently leased to a fitness center with a full kitchen and two bathrooms, generating $3,200 in monthly rent. The lease extends to November 2024, with the tenant actively pursuing renewal. The rear 8,000+ square foot section is a steel building featuring two roll-up garage doors, a loading dock, and impressive 20-foot ceilings. This area is currently leased to a bar, included in the sale, which benefits from a unique rental agreement based on a percentage of sales from a popular food brand. The property also includes ample parking with 32 spaces and sits on over two acres of land. This versatile property offers immediate income generation and significant potential for future development, making it an ideal investment for discerning buyers. The asking price is $1,200,000.

Property profile
Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 1920
Construction STEEL FRAME
Total area 11,090 SF
Lot 1 ac (43,560 SF)
Zoning code R-1
APN HADD M:14 B:029 L:1
UPID US15-0332924
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • The Truck Bar – Higganum, CT Bar & Pub
  • HK Health and Fitness Gym & Fitness Center
  • SQUARE PEG PIZZERIA HIGGANUM Restaurant
  • HK Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.03M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.05M
Blend (final) Blend
$910k
Owner & transaction history
Merle Mckenzie · 6 yrs held
Merle Mckenzie
since 2020
Last sale
$800,000
6 recorded transactions
2020
$800,000
2016
Price N/A
2016
Price N/A
2013
Price N/A
2006
Price N/A
2004
$265,000
Zoning & alternative use
R-1 · Higganum, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general) $1.5M +64.1%
Apartment house (5+ units) $1.2M +27.6%
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