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143 West St - 109 Approved Units 3.75 Acres of Commercial Land Offered at $2,931,432 CAD in New Milford, CT 06776
INVESTMENT HIGHLIGHTS
- Waterfront on Lake Lillinonah
- Adjacent to existing marina and office flex building.
- Close to town green of New Milford, CT.
EXECUTIVE SUMMARY
Attention: Developers, Investors & Entrepreneurs!! PLANS, APPROVALS AND LAND for fully approved 109 unit four story residential complex on beautiful Lake Lillinonah. This project consists of 58 one-bedroom and 51 two-bedroom units, for which market rental rates of $1,850 for 2 BDRM and $1,450 for 1 BDRM have been used to develop proforma. By adding ancillary income for parking, etc., the total income is projected to be approximately $2.2 million annually. Total cost of the project including land is estimated to be in the low $20 million range. Town encourages submission of tax abatement, which can now be up to 10 years in CT.
PROPERTY FACTS
| Price | $2,931,432 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 3.75 AC |
| Property Type | Land | ||
| Zoning | Commercial & Residential - Commercial & Reseidential | ||
| Price | $2,931,432 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 3.75 AC |
| Zoning | Commercial & Residential - Commercial & Reseidential |
1 LOT AVAILABLE
Lot 143
| Price | $2,931,432 CAD | Lot Size | 3.75 AC |
| Price Per AC | $781,715.22 CAD |
| Price | $2,931,432 CAD |
| Price Per AC | $781,715.22 CAD |
| Lot Size | 3.75 AC |
One-of-a-kind opportunity to create highly desirable living space by taking advantage of an irreplaceable location on the Housatonic River at the head of Lake Lillinonah. Close to New Milford town green and adjacent to existing marina/office bldg.
DESCRIPTION
3.75 acre approved multi-family on Lake Lillinonah. Purchase price includes all approvals and plans.
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143 West St - 109 Approved Units
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