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Investment Highlights

  • Traffic

Executive Summary

This listing is for a total of 5.55 acres in three parcels: 11 Spencer St. is 4.87 acres and has a small 810 sf retail building and a residential home on site, 363 Olcott St. is .45 acre and is vacant land, and 365 Olcott St. is .23 acre and has a residential home on site. All tenants on month to month leases. This land consisting of 3 parcels must be sold as one package. There is a need for housing in Manchester and an approval for elderly housing is a possible option. Property has excellent potential for commercial or business development pursuant to General Business Zone. High traffic area with easy access to Interstate Highway. There is a traffic signal at this corner of Olcott and Spencer. Call listing Broker for details.

Property Facts Under Contract

Price $575,000
Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Multifamily
  • Apartment Units
  • Planned Unit Development
Total Lot Size 5.55 AC
Cross Streets Olcott St
Zoning GB - General commercial

1 Lot Available

Lot

Price $575,000
Price Per AC $103,603.60
Lot Size 5.55 AC

Description

This listing is for a total of 5.55 acres in three parcels. 11 Spencer St. is 4.87 acres and has a small 810 sf retail building and a residential home on site, 363 Olcott St. is .45 acre and is vacant land, and 365 Olcott St. is .23 acre and has a residential home on site. This land consisting of 3 parcels must be sold as one package. There is a need for housing in Manchester and an approval for elderly housing is a possible option. Property has excellent potential for commercial or business development pursuant to General Business Zone. High traffic area with easy access to Interstate Highway. There is a traffic signal at this corner of Olcott and Spencer. Call listing Broker for details..

Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100

Property Taxes

Property Taxes

Parcel Number
MANC-000033-005190-000011
Land Assessment
$243,600
Improvements Assessment
$132,700
Total Assessment
$376,300
  • Listing ID: 15641675

  • Date on Market: 4/5/2019

  • Last Updated:

  • Address: 11 Spencer St, Manchester, CT 06040

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