Just .3 miles from exit 12 of the Everett Turnpike, this level 26,136+/- SF lot features 2 curb cuts, onsite water, sewer and natural gas. This location offers walking distance access to dining, grocery shopping, pharmacy and other retail. Zoning allows for a mix of retail and residential uses, but a proforma highest and best use analysis shows that redevelopment into a new-construction, multi-unit residential property offers the highest return, close to a 10 cap and 11 cash-on-cash return, and that is at a lot sales price of $250,000! Financial return based on estimated costs and returns associated with a lot redevelopment to a 6 unit, 6000+/- RSF apartment building. With 1000 units of large apartment developments planned, in progress or newly opened in the area, this smaller development would offer an attractive alternative to those searching in the area, at competitive pricing.
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Listing Agent: Bob James Courtesy of: Keller Williams Gateway Realty Copyright 2022 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this site comes in part from the IDX Program of NEREN. The information being provided is 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. Data last Updated: 29th January, 2022 1:39 AM