1231 Bantam Rd Litchfield, CT 06750
- Commercial real estate
- 1,200 SF
- 28.50 lot acres
Current Use by Public Records
- Stone Horse Farm / Horseback Riding Service
- IB Stable / Horse Trainer
- Hill Brook Equestrian / Equestrian Facility
Property Details for 1231 Bantam Rd
- Lot size
- 28.50 lot acres
- Property size
- 1,200 SF
- Property type
- Commercial real estate
Description
This exceptional 28.5-acre equestrian facility in Litchfield, Connecticut, presents a unique investment opportunity. The property boasts three barns totaling 1,200-45,000 square feet, providing ample space for 43 stalls. The property includes both an indoor and outdoor Poly-track arena, along with 12 paddocks, ensuring versatile training and boarding options. Convenient antifreeze water spouts and hoses are installed throughout the property. Currently operating at 73% occupancy (as of February 23, 2023), the property generates a Net Operating Income (NOI) of $278,294, with a projected NOI of $321,000. The property is zoned Commercial Stable/R40 and offers a compelling cap rate of 9.28% (pro-forma 10.70%). The asking price is $2,999,000, translating to a price per unit of $69,744.19 and a land value of $66.64 per square foot. A single-family residence is included in the sale price, with the seller open to considering a separate sale of the residence. This picturesque Litchfield County location offers stunning views and significant potential for growth. The property is offered fee simple.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Litchfield
- County
- Litchfield
- State
- Connecticut
- Longitude
- -73.2556434
- Latitude
- 41.7187746
