MLS® ID: 170182243

130 Casterbridge Crossing

Simsbury, Connecticut, 06070

$1,650,000 Active
  • - SQFT
Seven acres of the Dorset Crossing master planned complex is available and already approved for 72 units of multi-family development. The site lies at the end of Casterbridge Crossing off Route 202, where there is a signalized entrance into the complex. A development road already leads to the wooded site across a stream, dominated by very well drained Merrimac and Hinckley sandy loam soils. Pricing for the subject parcel assumes conservatively high 7.5% cap rate for new construction and conservatively high 40% expense ratio, with an ask price of less than $23,000 per unit. The Pointe at Dorset Crossing is an adjacent complex of 168 units built several years ago, and is more than 95% occupied. The Pointe sold recently for $36.5M, with a low implied cap rate of 5.3%. Daily traffic count is about 27,000, and all utilities are available. The site is just 15 minutes from Bradley International Airport, and 25 minutes from downtown Hartford.
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Listing courtesy of Academic Co-Realty Services

Amenities

  • Full baths
    0
  • Half baths
    0
  • Zip
    06070
  • Office name
    Academic Co-Realty Services
  • SQFT
    0
  • Bedrooms
    0
  • Property type
    Lots and Land For Sale
  • Zoning type
    PAD
  • Elementary school
    Per Board of Ed
  • High school
    Simsbury
  • Year built
    0
  • Lot size
    7.0000
  • Tax year
    July 2019-June 2020
  • Agent name
    Gregory Walwer
  • Tax amount
    $ 9977.0
  • Purchase Type
    Active
  • Price Range
    $1.5m-$1.75m
  • Square Feet Range
    < 1000 sq ft.
  • Office ID
    ACSX50
  • Agent ID
    WALWERG

Location

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