For Sale

$8,000,000

Property Type

Industrial / Flex

Building Size

328 acres

Lot Size

328 Acres

Lot Location

Eastern CT, Southern CT

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The former Waterford Airport on 189 acres in the IP-1 zone and four additional lots on 139 acre in the R-40 zone are being offered as a master development of mixed uses for commercial, industrial, recreational and residential. Potential uses include manufacturing, warehousing, professional offices, medical clinics and laboratories, specialty schools, hotels and motels, sports related recreation, data centers, battery energy storage and residential development. The 328 acres, with 600 feet frontage on
I-95, are located off exit 81 north and south to Cross Road (exits for Lowes and Walmart Supercenter). EB and Pfizer facilities and Coast Guard and Navy facilities are within minutes to New London and Groton. 189 ACRES IN THE IP-1 ZONE OFFERED
SEPARATELY – $6,750,000. 139 ACRES IN THE R-40 ZONE OFFERED SEPARATELY – $2,500,000.

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Lyman Guide

Ways to Financially Analyze a Commercial Real Estate Investment

Commercial real estate (CRE) is a numbers game

So, financial analysis is the foundation for making informed commercial real estate decisions

  • Helps you evaluate financial performance, investment return, property values
  • Helps you arrive at the value of a purchase, compare purchase options

Key measures

  • Net operating income (NOI)
    • NOI = gross income — operating expenses
    • Lenders use this to determine the maximum loan amount they’ll approve
  • Debt-service-coverage ratio (DSCR)
    • DSCR = NOI / annual debt service
    • Tells you the cash flow available to service the property’s debt
    • DSCR of 1.25 or higher normally adequate for a CRE investment
  • Capitalization rate (cap rate)
    • Cap rate = NOI / property’s market value
    • Used to determine the rate of return expected on an investment property
    • Can also calculate a property’s value based on a desired rate of return, using the following formula:
      • Property value = NOI / cap rate
    • Useful for comparing the relative values of alternative CRE investments
    • Higher cap rate generally indicates a higher return, but also, typically, a higher risk
  • Return on Investment (ROI)
    • REI = NOI / amount invested
    • The higher the ROI, the better the investment
  • Cash-on-cash return (CoC)
    • CoC = annual pretax cash flow / total cash invested
    • The higher the CoC return, the better the investment