- – beds
- – baths
- – sqft
- ~7 acre lot
- – on site
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.
Last checked: Checking… • Last updated Feb 13, 2021 • Source: SMART_MLS
MLS# 170182243 —
Amenities & Taxes
The Property
- Acres:
- 7
- Property Type:
- Lots and Land For Sale
- Property Sub Type:
- Residential Land
- Zoning:
- Pad
- Lot Description:
- May be Subdividable, Additional Land Avail., Lightly Wooded, Rolling
- Road Frontage:
- Paved Road
- Road Frontage:
- 650
Listing Agent
- Contact info:
- No listing contact info available
Taxes
- Property Tax:
- $9,916
- Tax Year:
- July 2020-June 2021
The Listing
- No
Utilities
- Utilities Available:
- Electric Available, Gas Available, Phone Available, Cable Available
- Sewage System:
- Public Sewer In Street
- Water Source:
- Public Water In Street
Schools
- Elementary School:
- Per Board of Ed
- High School:
- Simsbury
The Community
- HOA:
- No
- Waterfront Description:
- Brook
Schools
| Rating | Details | |
|---|---|---|
|
8
|
Tariffville Elementary School
|
|
|
8
|
Henry James Memorial School
|
|
|
7
|
Simsbury High School
|
GreatSchools scores are based on a scale from 1 to 10, where 10 is above average.
The school service areas are not definitive and should only be used as guidance. GreatSchools Ratings provided by www.greatschools.org
Monthly cost estimate
Asking price
$1,650,000
|
Mortgage
Principal & interest
Assumes 20% down, 30 yr. fixed, good credit |
$5,629
|
| Taxes | $826 |
| Insurance | $453 |
| Utilities | N/A |
| Total | $6,908/mo.* |
| *This is an estimate |
WalkScore®
Provided by WalkScore® Inc.
Soundscore™
Provided by HowLoud
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/20/19
May 20, 2019
|
Price Changed | SMART_MLS | $1,650,000 | -50.0% |
|
4/9/19
Apr 9, 2019
|
Listed / Active | SMART_MLS | $3,300,000 |