148 Wallingford Rd Durham, CT 06422

Property Details for 148 Wallingford Rd

Property type

Commercial real estate

Description

This exceptional 400+ acre property in Durham, Connecticut, presents a unique investment opportunity. Currently operating as a large-scale farm for over a century, it boasts seven houses totaling 29 bedrooms, providing ample living space for a large family or potential rental income. The extensive outbuildings include a two-story 35x50 horse barn, a 35x80 stable with 1.5 story horse stalls, a barn with double row stalls and an indoor riding arena, a 4-bay garage, a dairy barn, and chicken coops. These structures offer significant potential for depreciation (consult your tax advisor). The property generates substantial rental income from various sources, including leased cropland (92 acres), pastureland (20 acres), land used for a hunt club, and equestrian facilities (stables and indoor/outdoor riding areas). Additional income streams could be developed through a farm stand, vineyard/winery, Christmas tree sales, blueberry cultivation, and more. The property is subject to a Connecticut State Conservation Restriction, mandating agricultural use, reflecting development rights acquired approximately 70 years ago. The asking price is $4,100,000. This property offers a rare combination of residential, agricultural, and commercial potential, making it an ideal investment for a multi-generational family or a progressive investor seeking significant returns. The average Connecticut farm is approximately 80 acres, making this property exceptionally large and valuable.