130 Casterbridge Crossing,  Simsbury  (06070)


0 bedrooms 0   0 bathrooms 0   304920 square feet 304,920
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Address: view address
Simsbury, CT 06070
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Square Feet: 304,920 sq.ft.
Lot Size:7.00 acresYear Built:2000
Property Type:Residential LandCounty:Hartford
List Date:2019-04-09Listing Number:170182243


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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Property and Lot Details

Elementary School:Per Board Of EdHigh School:Simsbury
Lot Acres:7Lot Zoned:PAD
Taxes:9,916Transaction Type:Sale
Wooded Lot:Yes


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Listing courtesy of: Academic Co-Realty Services