10
See all 10 photos
$750,000
Est. payment /mo
2.56 Acres Lot
Active
31 Parum Road Colchester, CT 06415
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Key Details
Property Type Vacant Land
Sub Type Residential Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24205864
Annual Tax Amount $3,201
Lot Size 2.560 Acres
Property Sub-Type Residential Land
Property 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.
Location
State CT
County New London
Zoning SU
Exterior
Utilities Available None/Unknown
Waterfront Description Not Applicable
Building
Lot Description Secluded, Corner Lot, Treed, Level Lot, Sloping Lot, Rolling
Sewer Public Sewer Connected, Public Sewer In Street
Water Public Water Connected, Public Water In Street
Schools
Elementary Schools Per Board Of Ed
Middle Schools Per Board Of Ed
High Schools Per Board Of Ed
Listed by Ryan O'Keeffe • Salzillo Realty Company
NEARBY SCHOOL & BUSINESS
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