Prime Commercial Land
For Sale
$575,000
Pending
11 Spencer & 363 365 Olcott Street, Manchester, CT 06042
5.55 acres with high traffic and development potential.
Property Size4,063 SF
Lot Size5.55 Acres
Days on Market1227
Property Features for 11 Spencer & 363 365 Olcott Street
General Information
Standard status
Pending
Size
4,063 SF
Lot size
5.55 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,456
Amenities
Central air
Asphalt Shingle Roof
Concrete Flooring
Driveway
Hot Air Heating
Level Lot
Off Street Parking
Sloping Lot
Steam Heating
Tile Flooring
Treed
Vinyl Flooring
Window Unit Cooling
Wood Flooring
Building Details
Year Built
1936
Listing Agency:
Borden-Lombardi Realty, LLC
(860) 463-8103
Listed By:
DICK BORDEN · License #REB.0790939
Source:
Corcoran
Added: Apr 4, 2023
Changed: Aug 9
Last Checked: Aug 9 at 7:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Borden-Lombardi Realty, LLC
Investment Insights
Based on property information with market context.
This offering comprises a 5.55-acre package across three parcels, featuring approximately 560 feet of frontage on Spencer Street, which experiences over 13,000 vehicles daily according to CT DOT data. The parcels, to be sold as a single unit, include #363 Olcott St., a 0.45-acre vacant land parcel; #365 Olcott St., a 0.23-acre parcel with a residential home; and #11 Spencer St., a 4.87-acre parcel improved with an 810-square-foot retail building and a residential home. All tenants are currently on month-to-month leases. The property benefits from high traffic volume and convenient access to Interstate Highways 384 and 84, with a traffic signal located at the corner of Olcott and Spencer. The owners are in agreement with the town to abandon Olcott Street West, which will result in approximately 6 contiguous acres. Zoned for general business, the property offers excellent potential for commercial or business development. Elderly housing is a possible option.
Key Highlights
- 5.55 acres (potentially 6) in a high‑traffic location with ~560 ft of frontage on Spencer St and over 13,000 vehicles per day.
- General Business Zone allows for excellent commercial or business development potential.
- Easy access to Interstate Highways 384 and 84.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
Explore this area
Business Placement
Demographics for 06042, CT
24,044
Population
10,915
Households
2.2
Avg Household Size
37
Median Age
45%
College-Educated
95%
High-School Grad
10.5 sq mi
ZIP Area
2,290
Density / Sq Mi
$89,132
Median Household Income
$57,794
Median Earnings
$1,724
Median Rent
$219,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 5.55 acres with high traffic and development potential.
Where is this commercial land located?
The property is located at 11 Spencer & 363 365 Olcott Street Manchester, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 5.55 acres (potentially 6) in a high‑traffic location with ~560 ft of frontage on Spencer St and over 13,000 vehicles per day.; General Business Zone allows for excellent commercial or business development potential.; Easy access to Interstate Highways 384 and 84.
