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    2 Mansfield City Rd Mansfield, CT 06250

    Sponsored
    For Sale
    Contact for pricing

    231 Units, 41 Acres, High Demand

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 41-acre development opportunity in Mansfield, Connecticut, presents a compelling investment prospect. Located at 2 Mansfield City Road, this prime parcel sits at the corner of Mansfield City Road and Pleasant Valley Road, conveniently abutting Eastern Connecticut State University's athletic fields. The property boasts a conceptual plan for a 231-unit multifamily development, envisioned across 11 buildings. A conservation easement and dedicated open space will provide residents with passive recreational areas. The site benefits from readily available public water and sewer services, and a nearby bus stop provides convenient access to the Windham Regional Transit District (WRTD). Its strategic location offers proximity to downtown Willimantic and is only 10 minutes from the University of Connecticut, capitalizing on the high demand for student housing in this thriving market. Eastern Connecticut State University currently enrolls 5,832 undergraduate and 1,000 graduate students, while the University of Connecticut boasts an impressive 19,241 undergraduate and 7,098 graduate students. The property is zoned PVRA, offering significant development potential. This is a rare opportunity to acquire a substantial land parcel with a well-defined plan in a location with strong demographics and convenient amenities.

    Property Features for 2 Mansfield City Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    1,785,960 SF

    Building Details

    Units
    231

    HighLights

    • 231‑unit multifamily development opportunity in Mansfield, CT.
    • 41‑acre site zoned PVRA, located at 2 Mansfield City Road.
    • Excellent location near Eastern Connecticut State University and the University of Connecticut.
    • Public water and sewer available.
    • Broker co‑op is available.
    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 Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mansfield
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.2201349
    Latitude
    41.7372387

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    FAQs

    What type of property is this?
    Multifamily property - 231 Units, 41 Acres, High Demand
    Where is this multifamily property located?
    The property is located at 2 Mansfield City Rd Mansfield, CT.
    What are key features of this property?
    This property features: 231-unit multifamily development opportunity in Mansfield, CT.; 41-acre site zoned PVRA, located at 2 Mansfield City Road.; Excellent location near Eastern Connecticut State University and the University of Connecticut.
    (877) 672-3847
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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
    2 Mansfield City Rd Mansfield, CT 06250
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