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    486 Tolland Tpke Manchester, CT 06042

    Sponsored
    For Sale
    $225,000

    Prime Development Land: 16-Unit Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 1.63-acre parcel, located at 486 Tolland Turnpike in Manchester, Connecticut (zip code 06042), presents a remarkable opportunity for residential development. Boasting frontage on both Tolland Turnpike and Jefferson Street, this property enjoys excellent visibility and accessibility. Its strategic location offers proximity to Route 84 and the bustling Buckland Hills retail area, ensuring high demand and convenient access for future residents. A conceptual plan already exists, envisioning a 16-unit development comprising eight two-family units, totaling 18,240 square feet of gross building area and including 32 parking spaces. This plan demonstrates a 26% lot coverage ratio, leaving ample room for landscaping and open space. However, the property's zoning allows for flexibility, potentially accommodating higher density or an easier lot split, providing developers with considerable creative freedom. The asking price for this exceptional development opportunity is $225,000. This property is zoned for residential use and offers significant potential for a lucrative investment. Don't miss this chance to acquire a prime piece of land in a thriving Connecticut community.

    Property Features for 486 Tolland Tpke

    General Information

    Property type
    Land

    HighLights

    • $225,000 asking price for 1.63 acres of residential land.
    • Located at 486 Tolland Turnpike, Manchester, CT 06042.
    • Excellent location for multi‑family or condo development near Route 84 and Buckland Hills retail.
    • Conceptual plan includes 16 units (8 two‑family units), 18,240 sq ft building, and 32 parking spaces.
    • Potential for higher density or lot split.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Manchester
    County
    Hartford
    State
    Connecticut
    Longitude
    -72.527644
    Latitude
    41.806277

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    FAQs

    What type of property is this?
    Land - Prime Development Land: 16-Unit Potential
    Where is this land located?
    The property is located at 486 Tolland Tpke Manchester, CT.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: $225,000 asking price for 1.63 acres of residential land.; Located at 486 Tolland Turnpike, Manchester, CT 06042.; Excellent location for multi-family or condo development near Route 84 and Buckland Hills retail.
    (877) 672-3847
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    486 Tolland Tpke Manchester, CT 06042
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    Manchester, CT 06042
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    486 Tolland Tpke Manchester, CT 06042
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