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    66 Killingworth Rd Higganum, CT 06441-4241
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    Property profile & analytics

    66 Killingworth Rd Higganum, CT 06441-4241

    View on Map
    • Industrial properties
    • 11,090 SF
    • 1.00 lot acres
    Off-Market
    Last Sale Mar 2, 2020
    $800,000
    Property ID
    US15-0332924
    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.
    Value Estimations
    $910,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by 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

    Property Details for 66 Killingworth Rd

    Year built
    1920
    Construction
    STEEL FRAME
    Lot size
    1.00 lot acres
    Property size
    11,090 SF
    Zone code
    R-1
    Property type
    Industrial properties
    APN
    HADD M:14 B:029 L:1
    APU
    HADDM14B029L1

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,060,000
      ML approach
      $1,030,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,049,000
      Market price range: $485k - $1.29M
      AI Estimate
      $733,000
      Market price range: $291k - $1.07M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $925,000
      Current use
      COMMERCIAL (GENERAL)
      $1,515,000
      Change: +64% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,180,000
      Change: +28% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Higganum
    County
    Middlesex
    State
    Connecticut
    Longitude
    -72.5576
    Latitude
    41.4924
    CBSA code
    25540
    CBSA name
    HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $18,734
    $65,800
    $487,310
    $553,110
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $535,000
      35.64 Acres

      733 Killingworth Rd

      INDUSTRIAL (GENERAL) • 35.64 Acres
      733 Killingworth Rd, Higganum, CT 06441-4471
      View Details
    • Value Estimation by Request
      46.90 Acres

      65 Maple W Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 46.90 Acres
      65 Maple W Ave, Higganum, CT 06441-4221
      View Details
    • Value Estimation by Request
      4.88 Acres

      457 Killingworth Rd

      INDUSTRIAL (GENERAL) • 4.88 Acres
      457 Killingworth Rd, Higganum, CT 06441-4307
      View Details
    • Value Estimation by Request
      1.04 Acres

      12 Scovil Rd

      INDUSTRIAL (GENERAL) • 1.04 Acres
      12 Scovil Rd, Higganum, CT 06441-4218
      View Details
    • Value Estimation by Request
      1.97 Acres

      361 Saybrook Rd

      INDUSTRIAL (GENERAL) • 1.97 Acres
      361 Saybrook Rd, Higganum, CT 06441-4110
      View Details
    • Value Estimation by Request
      6,280 SF

      124 High St

      INDUSTRIAL (GENERAL) • 6,280 SF
      124 High St, Higganum, CT 06441-4268
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,567 SF

      Higganum Former Citizen’s Bank Building

      Free-standing building with ample parking at a traffic light.
      6 Killingworth Rd, Haddam, CT 06441
      View Details
    • Contact for pricing
      2,567 SF

      Higganum Retail Property For Sale

      Retail property with 2567 square feet of space.
      6 Killingworth Rd, Higganum, CT 06441
      View Details
    • $525,000
      Pending

      Mixed-Use Commercial Property For Sale

      Mixed-use commercial property with office spaces and residential house.
      212 Saybrook Rd, Haddam, CT 06441
      View Details
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    Higganum, CT 06441-4241
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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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    66 Killingworth Rd, Higganum, CT, 06441
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