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Presented by
Chris Raveis |
11 Spencer & 363,365 Olcott Street, Manchester, CT, 06042 | $575,000
This prime location listing is for a total of 5. 55 acres in 3 parcels of ~560 ft of frontage on Spencer St and over 13, 000 vehicles per day (according to CT DOT), which must be sold as one package. #363 Olcott St. is . 45 acre and is vacant land, #365 Olcott St. is . 23 acre and has a residential home on site, #11 Spencer St. is 4. 87 acres and has a small 810 sf retail building and a residential home on site. All tenants on month to month leases. See attached info. High traffic area with easy access to Interstate Highways - 384 or 84. There is a traffic signal at this corner - Olcott and Spencer. PLEASE NOTE THE OWNERS ARE WORKING WITH THE TOWN AND THERE IS AGREEMENT TO ABANDON OLCOTT STREET WEST WHICH WILL MAKE THE TOTAL ACREAGE APPROXIMATELY 6 ACRES AND ALL 3 PARCELS WILL BE CONTIGUOUS. Property has excellent potential for commercial or business development due to General Business Zone. There is a need for housing in Manchester and an approval for elderly housing is a possible option. The General Business Zone and prime location of this corner parcel with a traffic signal poses an excellent opportunity for a viable business/commercial development proposal.
Features
- Current Use: Retail & Residential
- Permitted Use: General Business Zone
- Utilities: Electric,Gas,Phone Available,Cable
- Garage: Off Street Parking,Driveway
- Parking: 11-car
- Heating: Hot Air,Steam
- Cooling: Window Unit
- Units: 3
- Zoning: General Business
- Frontage: Municipal Street,Paved Road
- Year Built: 1936
- Approx Sq. Feet: 4,063
- Acreage: 5.55
- Est. Taxes: $11,128
- Lot Desc: Treed,Level Lot,Sloping Lot
- MLS#: 170176547
- Days on Market: 1219 days
- Website: https://www.raveis.com
/prop/170176547/11spencerand363_365olcottstreet_manchester_ct?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Chris RaveisPresident of Residential Sales
Chris.Raveis@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Theresa GivensVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1870734
203.225.2554
Theresa.Givens@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Mark GreeneVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 115078
860.305.7387
Mark.Greene@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
Ray CashenPresident, William Raveis Attorney Network
203.925.4590
For homebuyers and sellers, our Attorney Network:
- Consult on purchase/sale and financing issues, reviews and prepares the sale agreement, fulfills lender
requirements, sets up escrows and title insurance, coordinates closing documents - Offers one-stop shopping; to satisfy closing, title, and insurance needs in a single consolidated experience
- Offers access to experienced closing attorneys at competitive rates
- Streamlines the process as a direct result of the established synergies among the William Raveis Family of Companies
11 Spencer & 363,365 Olcott Street, Manchester, CT, 06042
$575,000
Chris Raveis
President of Residential Sales
William Raveis Real Estate
Phone: 203.926.1090
Chris.Raveis@raveis.com
Theresa Givens
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.225.2554
Theresa.Givens@raveis.com
NMLS Mortgage Loan Originator ID 1870734
Mark Greene
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 860.305.7387
Mark.Greene@raveis.com
NMLS Mortgage Loan Originator ID 115078
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $460,000 | $460,000 | $460,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
| Monthly Tax Payment | $927 | $927 | $927 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,060 | $3,057 | $3,944 |
| Total Monthly Payment | $4,079 | $4,076 | $4,963 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
CT Mortgage Correspondent Lender License 15524