Rare opportunity to acquire a potential residential development site located within a Qualified Opportunity Zone in Putnam. Previously approved subdivision plans in 2008 along with updated conceptual plans completed in 2022 provide valuable groundwork for future development. The property was designed for a proposed 12-unit subdivision with city water and sewer available, offering excellent future upside for builders, developers, and investors seeking long-term investment potential in northeastern Connecticut. Public utilities already available to the site provide a significant advantage while supporting continued housing demand in the area. Conveniently located near downtown Putnam, shopping, restaurants, schools, and I-395, the property combines location convenience with strong residential development potential. Opportunity Zone designation may provide potential tax advantages to qualified investors, including the potential for deferred and reduced capital gains taxes through qualified investment structures. Buyers to perform their own due diligence regarding approvals, permits, utility connections, development feasibility, and Opportunity Zone requirements.
Prime development opportunity in a convenient Putnam location at in incredible price. Public water and sewer at the street. The property offers close access to shopping, restaurants, and I-395 for easy commuting to MA, CT and RI. A driveway has already been roughed in some years ago and the land was largely cleared 15+ years ago. No other engineering has been done.
Prime development opportunity in a convenient Putnam location at in incredible price. 2 lots available! Public water and sewer at the street. The property offers close access to shopping, restaurants, and I-395 for easy commuting to MA, CT and RI. No other engineering has been done.
Development Opportunity! Town-approved condominium project with fully engineered plans available by request, set on a private lot with views. This offering conveys development rights only for an approved condominium complex consisting of two existing townhouses and approvals for eight additional units to be built. Prior approvals are in place with the Town, underground utilities are on site, and initial infrastructure work has been completed. Public water and sewer available, paved drive installed, condominium documents recorded, and unit building plans are available. This is an opportunity to own or develop a planned community in the northeast corner of Connecticut, with convenient proximity to both Rhode Island and Massachusetts. For the full package offering including land and existing units, please see MLS #24150988.
ATTENTION ALL DEVELOPERS!!! This price includes a total of two lots, 99 Underwood Rd .70 Acres and 216 Sabin St 7.97 Acres. For a development parcel. Plans/Survey outline the potential for a total of 21 condo units (Davis Estates) utilizing 99 Underwood Rd as access and UG utilities.
Putnam is located in Connecticut. Putnam, Connecticut has a population of 9,250. Putnam is more family-centric than the surrounding county with 29.72% of the households containing married families with children. The county average for households married with children is 25.48%.
The median household income in Putnam, Connecticut is $67,070. The median household income for the surrounding county is $71,418 compared to the national median of $69,021. The median age of people living in Putnam is 44.3 years.
The average high temperature in July is 80.5 degrees, with an average low temperature in January of 14.9 degrees. The average rainfall is approximately 50.3 inches per year, with 45 inches of snow per year.
