Shovel-Ready Adaptive Reuse
For Sale
$1,450,000
35 Oakland Street, Manchester, CT 06042
Fully approved conversion plan for 26 apartments, with historic tax credit approvals and interior demolition already completed.
Property Size27,548 SF
Price / SF$52.64
Days on Market63
Property Features for 35 Oakland Street
General Information
Standard status
Active
Size
27,548 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Multifamily Units
26
Building Details
Year Built
1888
Listing Agency:
Vanguard Private Client Grp
(860) 882-8784
Listed By:
Natalie Zoef
(860) 882-8784
Source:
Lockandkeyre
Added: Jun 30
Changed: Aug 28
Last Checked: Aug 30 at 6:19PM
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 Vanguard Private Client Grp
Investment Insights
Based on property information with market context.
The property at 35 Oakland Street, Manchester, CT 06042 is positioned for an expedited adaptive reuse project, with major approvals already in place for conversion into 26 residential units. The approved unit mix includes 22 one-bedroom apartments and 4 two-bedroom apartments. Architectural, MEP, and necessary site approvals have been secured, and the project is ready for a developer to begin construction immediately. Interior demolition has already been completed, which can help reduce upfront timeline and costs.
Phase I and Phase II Historic Tax Credit approvals have been obtained, supporting potential historic tax credit incentives for qualified buyers. The site also includes ample on-site parking and is described as providing convenient access to shopping, restaurants, and major transportation routes.
As a result, the asset is set up as a shovel-ready development opportunity combining secured approvals, historic tax credit eligibility, and a defined residential conversion scope.
Phase I and Phase II Historic Tax Credit approvals have been obtained, supporting potential historic tax credit incentives for qualified buyers. The site also includes ample on-site parking and is described as providing convenient access to shopping, restaurants, and major transportation routes.
As a result, the asset is set up as a shovel-ready development opportunity combining secured approvals, historic tax credit eligibility, and a defined residential conversion scope.
Key Highlights
- Year built 1888 building with a fully approved conversion plan for 26 residential units (22 1‑bedroom, 4 2‑bedroom).
- Architectural, MEP, and necessary site approvals already secured, with approvals in place to begin construction immediately.
- Phase I and Phase II Historic Tax Credit approvals obtained.
Property Analytics
Property Profile
Current Use
Lease Details
26
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
548
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully approved conversion plan for 26 apartments, with historic tax credit approvals and interior demolition already completed.
Where is this apartment building located?
The property is located at 35 Oakland Street Manchester, CT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Year built 1888 building with a fully approved conversion plan for 26 residential units (22 1‑bedroom, 4 2‑bedroom).; Architectural, MEP, and necessary site approvals already secured, with approvals in place to begin construction immediately.; Phase I and Phase II Historic Tax Credit approvals obtained.
