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Key Details
Sold Price $430,000
Property Type Vacant Land
Sub Type Commercial Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 24026294
Sold Date 07/24/24
Annual Tax Amount $4,420
Lot Size 22.110 Acres
Property Sub-Type Commercial Land
Property Description
A developers dream where most of the leg work is done and the owners are willing to walk with you through approval. A special senior housing zone in which plans show 25 units allowing 3 occupants in which one occupant must be over 55 years old. The beauty of the location is its location just 12 minutes to Backus Hospital and 11 minutes in either direction on route 2 to either Norwich or Colchester shopping, crucial to the over 55 crowd. An added bonus to the location is its bordered by a trout stocked stream. A plan is available for the housing layout depicting the 25 units. This would bring the cost per unit to 18k per unit in land costs. Perc tests have been conducted and the Lebanon planning and zoning board is ready and waiting for a project here. A home run for a developer who can build either rental housing or owner occupied condos in an area screaming for more housing. If you are looking for a profitable project-here it is
Location
State CT
County New London
Zoning B
Exterior
Utilities Available Cable Available, Electric Available, Underground Required
Waterfront Description River,Walk to Water
Building
Lot Description Some Wetlands
Sewer Septic Required
Water Well Required
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Bought with Krystal Davis • RE/MAX ONE