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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    70 Bridge St Groton, CT 06340

    • Industrial properties
    • 5,960 SF
    • 0.80 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    $510,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0942408
    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

    • Kmk Construction / General Contractor
    • Kevin Davis Insurance Services Inc / Insurance Agency

    Property Details for 70 Bridge St

    Year built
    1935
    Lot size
    0.80 lot acres
    Property size
    5,960 SF
    Zone code
    GC
    Property type
    Industrial properties
    APN
    GROT M:168914333728
    APU
    GROTM168914333728

    Description

    This exceptional 5,363-square-foot executive office space is ideally situated in Groton, Connecticut, offering unparalleled convenience with its close proximity to I-95 and Electric Boat. The building, constructed in 2004, boasts a two-story design encompassing approximately 4,000 square feet of adaptable office space. This area features a flexible open floor plan, complemented by several glass-enclosed cubicles, and a welcoming lobby/reception area. A significant advantage is the inclusion of 1,363 square feet of dedicated lab space, fully equipped with a fume hood, drop ceiling, lab benches, and a full lab sink. The property sits on a 0.8-acre lot, providing ample on-site parking for tenants and visitors. The building is equipped with a robust security system and benefits from 400-amp, 3-phase power, ensuring reliable operation for various business needs. The entire 5,363 square feet is currently vacant and available for lease, offering a unique opportunity for a single tenant or the possibility of subdivision to accommodate multiple occupants. This property presents a rare combination of office and lab space in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $479,000
      Market price range: $150k - $480k
      AI Estimate
      $674,000
      Market price range: $167k - $674k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $365,000
      Current use
      OFFICE BUILDING
      $820,000
      Change: +124% Conversion: Difficult
      RETAIL STORES
      $665,000
      Change: +82% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $505,000
      Change: +39% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $505,000
      Change: +38% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Groton
    County
    New London
    State
    Connecticut
    Longitude
    -72.0821
    Latitude
    41.3632
    CBSA code
    35980
    CBSA name
    NORWICH-NEW LONDON, 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
    2024
    $23,794
    $325,878
    $558,992
    $884,870
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,145,000
      12,960 SF

      250 Leonard Dr

      INDUSTRIAL (GENERAL) • 12,960 SF
      250 Leonard Dr, Groton, CT 06340-5334
      View Details
    • Value Estimation
      $5,735,000
      59,264 SF

      445 Eastern Pt Rd

      INDUSTRIAL (GENERAL) • 59,264 SF
      445 Eastern Pt Rd, Groton, CT 06340-5157
      View Details
    • Value Estimation by Request
      2,090 SF

      195 Leonard Dr, Unit 5

      CONDOMINIUMS (INDUSTRIAL) • 2,090 SF
      195 Leonard Dr, Groton, CT 06340-5341
      View Details
    • Value Estimation by Request
      1,650 SF

      195 Leonard Dr, Unit 4

      CONDOMINIUMS (INDUSTRIAL) • 1,650 SF
      195 Leonard Dr, Groton, CT 06340-5341
      View Details
    • Value Estimation by Request
      2,675 SF

      195 Leonard Dr, Unit 9

      CONDOMINIUMS (INDUSTRIAL) • 2,675 SF
      195 Leonard Dr, Groton, CT 06340-5341
      View Details
    • Value Estimation by Request
      5,544 SF

      443 Eastern Pt Rd

      INDUSTRIAL (GENERAL) • 5,544 SF
      443 Eastern Pt Rd, Groton, CT 06340-5105
      View Details

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    Similar Nearby for Lease

    • $12 SF/Yr
      5,363 SF

      Office and Lab Space Available

      5,363 SF office and lab space for lease.
      70B Bridge St, Groton, CT 06340
      View Details
    • $18 SF/Yr
      14,706 SF

      Groton Office Building For Lease

      High-traffic corner, flexible suites.
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      View Details
    • Contact for pricing
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      Retail space available in shopping center anchored by Big Y.
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      View Details
    • Contact for pricing
      196,802 SF

      Groton Square Retail Center

      Prime Retail Space Available, I-95 Access
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      View Details
    • $1,950 /Mo

      Residential Income Property For Rent

      Residential income property available for rent in Groton, CT.
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    • $4,000 /Mo

      Groton Multifamily Property for Rent

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      View Details
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    70 Bridge St
    Groton, CT 06340
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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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