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    14 Hyde Ave Vernon, CT 06066

    Sponsored
    For Sale
    Contact for pricing

    174-Unit Approved Project, 24.5 Acres

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 24.5-acre parcel in Vernon, Connecticut, presents a fully approved opportunity to develop a 174-unit multifamily community. The project, situated on a strategically located lot bordering Tolland, CT, boasts detailed site plans and readily available approval documents. The approved design includes a mix of 84 one-bedroom and 90 two-bedroom apartments, thoughtfully arranged across three floors. The unit breakdown includes 48 one-bedroom units on the first and second floors, 36 one-bedroom units on the third floor, 54 two-bedroom units on the first floor, and 36 two-bedroom units on the third floor. This development is primed to capitalize on high rental demand in the area, offering convenient access to major highways, employment centers, and educational institutions. Its proximity to the University of Connecticut (18 minutes), Hartford (19 minutes), and Boston (1 hour 20 minutes) further enhances its appeal to potential renters. The property is zoned for residential use and offers a rare opportunity to bring a pre-approved project to life in a sought-after location. Detailed demographic and traffic data are available upon request. This is a turnkey development opportunity ready for immediate construction. The property is located at 14 Hyde Ave, Vernon, CT 06066.

    Property Features for 14 Hyde Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    1,089,000 SF

    HighLights

    • 25‑acre fully approved site for a 174‑unit multifamily development in Vernon, CT.
    • Detailed site plans and approval documents are available upon request with a signed NDA.
    • The project comprises 84 one‑bedroom and 90 two‑bedroom apartments.
    • Strategically located near UConn, Hartford, and Boston, offering convenient access to major highways and employment centers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Vernon
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.428088
    Latitude
    41.85732

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    FAQs

    What type of property is this?
    Multifamily property - 174-Unit Approved Project, 24.5 Acres
    Where is this multifamily property located?
    The property is located at 14 Hyde Ave Vernon, CT.
    What are key features of this property?
    This property features: 25-acre fully approved site for a 174-unit multifamily development in Vernon, CT.; Detailed site plans and approval documents are available upon request with a signed NDA.; The project comprises 84 one-bedroom and 90 two-bedroom apartments.
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    14 Hyde Ave Vernon, CT 06066
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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
    14 Hyde Ave Vernon, CT 06066
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