130 Casterbridge Crossing

Simsbury, CT 06070 Directions
$1,650,000
  • 7Acres

Property Highlights

  • High School: Simsbury
  • Days on Market: 815
  • MLS: 170182243

Property Highlights

  • High School: Simsbury
  • Days on Market: 815
  • MLS: 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...

Property Highlights

  • High School: Simsbury
  • Days on Market: 815
  • MLS: 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.

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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  • Additional Information
    • Area Type: Other
    • Days On Market: 815
    • Elementary School: Per Board of Ed
    • High School: Simsbury
    • Road Frontage Description: Paved Road
    • Sewer: Public Sewer In Street
    • Status: Active
    • Subtype: Residential Land
    • Tax Amount: $9,916
    • Tax Year: July 2020-June 2021
    • Type: Lots and Land For Sale
    • Utilities Available: Electric Available, Gas Available, Phone Available, Cable Available
  • Interior/Exterior Features

    Listing Courtesy of Academic Co-Realty Services.

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