566 Colman StNew London, CT 06320

  • Land
  • 4,756 SF
For Sale
$1,199,000 View listing

Property Details for 566 Colman St

Construction
WOOD FRAME
Lot size
0.94 AC
Property size (Sq ft)
4,756 SF
Property type
Land
Property subtype
Commercial land
APN
NLON M:C08 B:0260 L:0012
APU
NLONMC08B0260L0012

Description

This 0.94-acre commercial lot in New London, Connecticut, presents a unique investment opportunity. Located on Colman Street, this property boasts a prime location within a high-traffic area, averaging approximately 12,000 vehicles daily. The lot is fully paved, well-lit, and features properly installed drainage, ensuring ease of use and maintenance. With a capacity for 150 parking spaces, this property is ideal for a variety of commercial uses. The property is zoned C-2, offering flexibility for potential development. Previously environmentally assessed, this lot is ready for immediate use or development. Its strategic location amongst car dealerships and fast-food establishments guarantees high visibility and accessibility. The asking price is $1,199,000. The property is currently available for sale. Prior lease agreements have expired.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $900,021
    Hospitality
    $824,415
    Educational
    $685,903
    Medical
    $709,493
    Retail
    $1,066,961
566 Colman St, New London, Connecticut

Location Insight

City
New London
County
New London
State
Connecticut
Latitude
41.3657
Longitude
-72.117
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
2023
$13,420
$297,360
$63,000
$360,360
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-
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