28-30 Mason St, Coventry, CT 06238

Property Details for 28-30 Mason St

Year built

1800

Lot size

1.74 lot acres

Property type

Commercial real estate

Description

This exceptional investment opportunity encompasses two historic mill buildings situated on a 1.74-acre lot at 28-30 Mason Street in Coventry, Connecticut. The combined square footage of both buildings totals 40,834 square feet, presenting significant potential for redevelopment. The property's zoning allows for a proposed 35-40 unit multi-family development, a project eligible for both state and federal tax credits, significantly enhancing the return on investment. One building is conveniently connected to public water and sewer lines, offering immediate utility access. The second building currently utilizes a well and septic system but possesses the infrastructure to readily connect to the public water and sewer lines running adjacent to the property. This dual-building configuration offers flexibility in development plans, allowing for phased construction or separate uses. The substantial size of the property, coupled with its historical character and redevelopment potential, makes this a rare and attractive proposition for investors seeking a high-impact project in a desirable Connecticut location. The property's location in Coventry offers access to local amenities and transportation routes, further enhancing its appeal. This is a unique chance to acquire a significant piece of Connecticut history and transform it into a thriving multi-family complex. The substantial square footage and acreage provide ample space for development, while the eligibility for tax credits minimizes financial risk and maximizes potential returns.

Location Insight

City

Coventry

County

Tolland

State

Connecticut

Longitude

-72.299

Latitude

41.7663