31 Parum Road
Colchester, Connecticut 06415
- Beds
- 0
- Baths
- 0
- SqFt
- —
- Acres
- 2.56
- Property Type
- Land
Matt Caiola
Luxury Real Estate Advisor
Request a private showing and get Matt's read on price, condition, and next steps.
About This Home
Rare fully entitled, shovel-ready development opportunity in Colchester, CT. 31 Parum Road is a 2.56-acre site (111,439 SF) with Planning & Zoning approval for a 30-unit multifamily building under C.G.S. 8-30g. Base suburban zoning permits only 10 units - the approved affordable housing set-aside is what unlocks the additional 20 units, creating significant embedded value. Approvals, architecture, civil, MEP, survey, and geotech all convey with the sale. Public water and sewer are already in the road. 444.7 ft of frontage on Route 354. Unit mix of 18 one-bedroom and 12 two-bedroom units across a 3-story building with walk-out lower level, 25,202 SF net rentable. Site sits near the Route 2/Route 11 interchange, minutes to shopping and under 30 minutes to Hartford. Offered at $750,000 ($25,000 per approved unit) - priced below comparable approved sites in the region. Full Offering Memorandum available upon request.
Key Facts
- City/Town
- Colchester
- Neighborhood
- N/A
- Property Type
- Land
- Days on Market
- 0 days
- Beds
- 0
- Baths
- 0 baths
- Lot Size
- 2.56 acres
- Property Taxes
- $3,201 / Annually
Market Snapshot
The Colchester Market
Land · trailing 12 months
Active Listings
3
1 under contract
Median List Price
$750,000
3 active listings
Median Closed Price
$90,000
3 sales
Median Days on Market
57
3 active listings
Median $ / Sq Ft
--
3 active listings
Sale-to-List Ratio
90.0%
3 sales
How this home compares
List Price
$750,000
vs $750,000 median
In line with median
Price / Sq Ft
--
Median unavailable
Limited comparable data
Days on Market
0 days
vs 57 days median
57 days fresher than median
Based on 3 active and 3 closed sales (trailing 12 mo) of land in Colchester. Source: SmartMLS · As of September 10, 2026.
Location
31 Parum Road, Colchester, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Sep 3, 2026per month
- Principal & Interest$3,876
- Property Taxes$267
- Insurance$250
- HOA$0
Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.
Location
- City/Town
- Colchester
- Neighborhood
- N/A
- County
- New London
Residence
- Property Type
- Land
- Subtype
- SingleFamilyResidence
Schools
- Elementary
- Per Board of Ed
- Middle
- Per Board of Ed
- High
- Per Board of Ed
Exterior & Lot
- Lot Size
- 2.56 acres
- Zoning
- SU
- Waterfront Details
- Not Applicable
- Water Source
- Public Water ConnectedPublic Water In Street
- Sewer
- Public Sewer ConnectedPublic Sewer In Street
- Flood Zone
- No
- Lot Description
- SecludedCorner LotTreedLevel LotSloping LotRolling
Listing & Financials
- Property Taxes
- $3,201 / Annually
- Days on Market
- 0
- MLS #
- 24205864
- MLS Status
- Active
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Co-Listed By
Joseph Salzillo
Salzillo Realty Company
This information is believed to be accurate, but without warranty.
The IDX display contains information sourced from SmartMLS, Inc. as of 9/10/2026. This information is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or leasing. Data is deemed reliable but is not guaranteed accurate by the MLS, the listing broker, the listing agent, or Matt Caiola. Buyers and tenants should independently verify all information that matters to their decision.
Map locations may be approximate. Any offer of compensation, if applicable, is made only to participants of the MLS where the listing is filed. ©2026 Smart MLS, Inc. All rights reserved.
Data last updated on 9/10/2026 at 4:01 AM UTC.