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21094342
21094343

8 Turnberry Ln, Newtown, CT 06482

Coldwell Banker Commercial NRT Danbury
AF
RES.0823989
Coldwell Banker Commercial NRT Danbury
Listed by Coldwell Banker Commercial NRT Danbury
$975,000
518 days on market
Updated 6 days ago

8 Turnberry Lane

Details
Property Type Self Storage
Sub Type Self-Storage Development
Pro-Forma Cap Rate 7.25%
Pro-Forma NOI $529,563
Price per SqFt $206
Price Per Acre $376,448
Broker Co-Op Yes
Acreage 2.590
Investment Type Redevelopment

Self Storage

Marketing description

SHOVEL READY. Coldwell Banker Commercial Realty is pleased to present a premier self-storage investment opportunity at 8 Turnberry Lane in Newtown, Connecticut. This fully approved and entitled 44,000 GSF development will feature 35,500 net rentable square feet of self-storage space, consisting of 282 climate-controlled units and 40 non-climate drive-up units. Designed with an efficient over/under configuration, the facility maximizes land use while catering to a wide range of storage needs.

Strategically located on 2.59 acres in Fairfield County, one of Connecticut’s most affluent regions, the property benefits from exceptional market fundamentals. The surrounding area has experienced over 12% population growth since 2000, with an average household income of $165,941 within a one-mile radius. Additionally, the market remains undersaturated, with only 5.64 net rentable square feet per person within a three-mile radius, presenting significant unmet demand.

The property is situated approximately 60 miles northeast of New York City and 18 miles northwest of New Haven, offering easy accessibility via Interstate 84, a primary artery traversing the state. Newtown’s vibrant neighborhoods—including Sandy Hook, Hawleyville, and Botsford—enhance the property’s appeal, ensuring strong leasing demand from a diverse and growing residential base.

This exceptional self-storage development represents a compelling investment opportunity, blending affluent demographics, strategic design, and a prime location in a high-demand, underserved market. For more information or to schedule a property tour, please contact Coldwell Banker Commercial Realty.

Investment highlights

SHOVEL READY SITE

•Turnkey Development Opportunity: Fully entitled 44,000 GSF self-storage facility located at 8 Turnberry Lane, Newtown, CT, offering 35,500 RSF.

• Located in an undersaturated market, with only 5.64 NRSF per person within a three-mile radius and a 41,813 SF unmet demand in the primary trade area

• High population growth of 12% since 2000 and projected to grow another 2.76% by 2027

• Convenient access to Interstate 84, a primary state artery traversing Connecticut, ensuring strong regional connectivity

• 282 climate-controlled units and 40 non-climate drive-up units, catering to diverse tenant needs

• Local absorption rates of 3.17 SF per capita and 9.18 SF per household validate strong market viability.

• Positive competitive landscape, with nearby facilities reporting high occupancy levels of mid-to-upper 90%

Listing Contacts

Coldwell Banker Commercial NRT Danbury
AF
RES.0823989
Coldwell Banker Commercial NRT Danbury
Listed by Coldwell Banker Commercial NRT Danbury

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