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130 Casterbridge Crossing, Simsbury, CT 06070

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Listing Type
lots/land
Listing Status
under contract
1
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Transportation
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$1,650,000

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Home Details for 130 Casterbridge Crossing

Price
$1,650,000
Type
lots/land
Lot Size
7.0000
County
Hartford
Tax
$9,916
MLS Listing#
170182243
On exitrealty.com
1017 days

Property Description

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.

Property Features

EXIT REALTY INFINITY
34 Bloomfield Ave, Windsor, CT 06095
$1,650,000

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EXIT REALTY INFINITY
34 Bloomfield Ave, Windsor, CT 06095
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