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$800,000
Est. payment /mo
4 Baths
7,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $106
MLS Listing ID 24216976
Full Baths 2
Half Baths 2
Year Built 1963
Annual Tax Amount $7,584
Lot Size 2.560 Acres
Property Description
**Exciting Development Opportunity - 505 Old Colchester Road, Montville, CT!** With a growing need for affordable housing in Montville, this property presents an exciting opportunity for investors, builders, and developers! Potential possibilities include multiple residential units or continued use as a church. Additional development opportunities may exist utilizing the driveway and expansive parking area, which offers over 90 parking spaces. There may also be an opportunity to utilize town water while retaining the existing septic system. Conveniently located within driving distance of beautiful Connecticut shoreline beaches, the Block Island Ferry, and Mohegan Sun Resort & Casino, offering easy access to coastal attractions, entertainment, dining, and recreation. Whether you're looking to develop affordable housing, create a multifamily investment, or establish a place of worship, this unique property offers tremendous potential! All proposed uses and development possibilities are subject to zoning, feasibility, and necessary approvals. Buyer to perform their own due diligence regarding permitted uses, unit count, utilities, and development potential. An engineer will be needed to assess the number of units that may be possible.
Location
State CT
County New London
Zoning R40
Interior
Heating Hot Air
Cooling Central Air
Exterior
Utilities Available Electric, Gas, Telephone
Roof Type Asphalt Shingle
Building
Lot Description Level Lot, Cleared
Sewer Septic
Water Public Water Connected
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Listed by Ariel Tortora • William Raveis Real Estate
Nearby School & Business
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