Property

Ownership:	Land
Type:	Land

Financials

Price:$750,000

Annual Taxes:$3,201

Greenwich, CT

Nest Seekers International at The J House Greenwich, 1114 E Putnam Ave, Riverside, CT 06878

Phone: +1 203-204-9555

greenwich@nestseekers.com

Listing Courtesy of Ryan O'Keeffe of Salzillo Realty Company

Rare fully entitled, shovel ready development opportunity in Colchester, CT.

Description

Rare fully entitled, shovel-ready development opportunity in Colchester, CT. 31 Parum Road is a 2.56-acre site (111,439 SF) with Planning & Zoning approval for a 30-unit multifamily building under C.G.S. 8-30g. Base suburban zoning permits only 10 units - the approved affordable housing set-aside is what unlocks the additional 20 units, creating significant embedded value. Approvals, architecture, civil, MEP, survey, and geotech all convey with the sale. Public water and sewer are already in the road. 444.7 ft of frontage on Route 354. Unit mix of 18 one-bedroom and 12 two-bedroom units across a 3-story building with walk-out lower level, 25,202 SF net rentable. Site sits near the Route 2/Route 11 interchange, minutes to shopping and under 30 minutes to Hartford. Offered at $750,000 ($25,000 per approved unit) - priced below comparable approved sites in the region. Full Offering Memorandum available upon request.

Amenities

Elementary School - Per Board of Ed
High School - Per Board of Ed
Intermediate School - Per Board of Ed

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All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.