For Sale
$4,899,000

55 Kondracki LnWallingford, CT 06492

12-Acre Site, 72 Units Approved

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 11.5-acre property in Wallingford, CT, presents a unique investment opportunity. The existing 504,860 square foot, two-story building, constructed in 1984, has been completely gutted and remediated, making it "shovel ready" for redevelopment. All necessary building approvals are in place, and architectural designs are available. The property is zoned Residence District - 18 (R18) and approved for 72 market-rate rental apartments or condominium units. The 5,000 square foot lower level offers additional potential for amenities such as a community space, fitness center, or self-storage units. An additional 2 acres of street-side land could accommodate up to 28 affordable housing units under 830G requirements. The property's location offers convenient access to I-91 (1/2 mile) and the Wilbur Cross Parkway (approximately 1 mile), with nearby rail service providing commuting options to New York City. Wallingford's strong demand for housing, coupled with available state and federal programs and tax incentives, makes this a compelling investment prospect for both for-profit and non-profit developers. The property boasts a steel frame, concrete floors, and a brick façade, situated in a quiet, park-like setting away from major roadways. The substantial remaining land offers further development potential for a creative developer.

Property Details for 55 Kondracki Ln

Property type
Apartment buildings
Square Feet
504,860 SF
Year Built
1984
Buildings
1
Stories
2
Lot Size (sq. ft)
504,860 SF

Location Insight

City
Wallingford
County
New Haven
State
Connecticut
Latitude
41.4347402
Longitude
-72.8104038
55 Kondracki Ln, Wallingford, Connecticut

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55 Kondracki Ln
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