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741 Echo Lake Rd 17.29 Acres of Residential Land Offered at $4,330,000 in Watertown, CT 06795

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INVESTMENT HIGHLIGHTS

R-30 Zone - Residential / Office Transitions Overlay Zone
Lot 1 Site Plan Approved - 21 Townhouse Units
8-30g C.G.S. Development

Density Allowed - 8 Units Per Acre
2.0 % Vacancy Rate

EXECUTIVE SUMMARY

Rare Opportunity to acquire and develop 17.29 Acres of land situated at intersection of Echo Lake Road and Buckingham Street [ Rte 262] in Watertown Ct Property is situated in an R-30 Zone District augmented by application of Residential / Office Transition Overlay Zone { Section 4.4 Watertown Zoning Regulation] Overlay Zone permits Multifamily Dwellings with density not to exceed 8 units Per Acres { Sec. 4.4 D. 4 WZR]

Offering Memorandum
Market Information
Third Party Reports
Miscellaneous

PROPERTY FACTS

Price	$4,330,000	Property Subtype	Residential
Sale Type	Investment or Owner User	Proposed Use	Apartment Units - Condo Apartment Units - Senior Planned Unit Development
No. Lots	1	Total Lot Size	17.29 AC
Property Type	Land
Zoning	R=30 / RT - Site is situated in a R-30 Zone District w/ Residential / Office [RT] Transition Overlay Zone - subject to Special Permit & Site Plan Approval.

Price	$4,330,000
Sale Type	Investment or Owner User
No. Lots	1
Property Type	Land
Property Subtype	Residential
Proposed Use	Apartment Units - Condo Apartment Units - Senior Planned Unit Development
Total Lot Size	17.29 AC
Zoning	R=30 / RT - Site is situated in a R-30 Zone District w/ Residential / Office [RT] Transition Overlay Zone - subject to Special Permit & Site Plan Approval.

1 LOT AVAILABLE

Lot

Price	$4,330,000	Lot Size	17.29 AC
Price Per AC	$250,433.78

Price	$4,330,000
Price Per AC	$250,433.78
Lot Size	17.29 AC

Lot 1 consists of 9.0 Acres, Lot 2 Consists of 8.29 Acres

DESCRIPTION

Size & Zoning: 17.29 Acres - R-30 Zone + Residential Transition Zone Overlay Unit Density: 8 units Per Acre 2.0 Vacancy Rate Infrastructure: Public Water - Public Sewer - High Speed Internet - Schools Site Access: Corner of Echo Lake Road & Buckingham Street [ Ct Rte 262] Market Opportunity: Limited Multifamily Development / Together with Statewide Demand Assisted Living Facility Lot 1 = 9.0 Acres - Lot 2 = 8.29 Acres Owner will Procure Site Plan Approval for Multifamily Dwelling in Accordance with Zone Regulations as a Condition of Sale Highway Access: Site is situated approximately 1.5 mile to Ct Rte 8 Public Transportation - Ct Transit - Bus Route Average Daily Traffic - Echo Lake Rd= 5600 Intersection Echo Lake & Rte. 262 = 9500

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