NOT LISTED FOR SALE
0.22 Acre
-- Price per Acre
9,583 Sq Ft Lot

Last Sold May 20, 2022

Last sale price $220,000

149 Days on Market

Highlights

  • 0.22 Acre Lot
  • Corner Lot
  • Walking Distance to Water
  • Property is near public transit
  • No HOA
  • 4-minute walk to Washington Park

About This Lot

As of May 2022

Flat, corner lot approved for mixed-use luxury rentals and commercial shopping! This privately owned land has approved plans in-place as pictured to build a 10,800 SF of 3 story-mixed-use building comprising retail stores and residential units. Also added all residential plans for alternate option to build.

Only a few blocks away from Bass Pro Shops and the Steel Point Harbor, where large scale commercial, hotel, and luxury condo investments are on the way, two blocks from the i95 entrance ramp to NY and right on the bus line, this land when developed is ideal for long-term rental income. Conservatively, current market rent for a retail store of this size is $1,500-$1600/month, and 2-bedroom units are $1,350-$1,400/month. The appraisal for this property, as is with the approved permits, would yield $349,000. A detailed income/operating expense chart based on this data is included in supplements.

100’x100’ (30.5mx30.5m), land in the OR (Office-Residential) zone, the approved plans boast four retail stores on the ground floor and eight 3-bedroom units on second and third floors with a 19-car parking lot in rear. This project has gone before Board of Zoning Appeals and Planning and Zoning Boards, and has secured approvals to permit the construction as displayed. All of the difficult back-end work has been completed. Now is your opportunity to build it and profit!

Last Agent to Sell the Property

Brian Appel

Higgins Group Real Estate License #RES.0817734 Listed on: 11/13/2021

Higgins Group Real Estate

Last Buyer's Agent

mahesh bangalore

Tri-State Realty License #RES.0755871

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $2,659

Lot Details

  • 9,583 Sq Ft Lot
  • Corner Lot
  • Level Lot
  • 2 Lots in the community
  • Property is zoned IHI

Location

  • Property is near public transit
  • Property is near shops

Schools

  • Waltersville Elementary School
  • Warren Harding High School

Utilities

  • Gas Available
  • Phone Available
  • Cable TV Available

Community Details

Recreation

  • Walking Distance to Water

Additional Features

  • No Home Owners Association
  • Public Transportation

Property Details

Property Type

Land

Est. Annual Taxes

$2,659

Lot Details

0

Listing Details

  • Neighborhood: East Side
  • Property Type: Lots and Land For Sale
  • Nearby Amenities: Commuter Bus, Library, Park, Playground/Tot Lot, Public Transportation, Shopping/Mall
  • Remarks Public Addendum: Back on market! Added all residential building plans.
  • Property Sub Type: Industrial Land
  • Direct Waterfront: No
  • Directions: Corner of Burroughs St & East Main Street. Two blocks from the i95 ramp entrance.
  • Special Features: None

Interior Features

  • Street Number Modifier: 619-633

Exterior Features

  • Waterfront Description: Walk to Water
  • Road Frontage Description: Municipal Street, Paved Road
  • Road Frontage Approximate: 198

Utilities

  • Water Source: Public Water In Street
  • Sewer: Public Sewer In Street
  • Utilities Available: Electric, Gas, Telephone, Cable Available
  • Septic Approval: No
  • Septic Plan Available: No

Condo/Co-op/Association

  • HOA: No
  • Special Association Assessment Y: No

Schools

  • Elementary School: Waltersville
  • High School: Warren Harding

Lot Info

  • Acres: 0.2200
  • Lot Description: Dry, Corner Lot, Level Lot
  • Lot Improvements: Approved Building Lot, Sidewalk
  • Lots Number Of: 2
  • Zoning: IHI

Tax Info

  • Tax Year: July 2021-June 2022
  • Property Tax: 2659
  • Total Assessed Value: 61190
  • Mil Rate Base: 43.450
  • Mil Rate Total: 43.450
  • Assessor Parcel Number: 15211

MLS Schools

  • Elementary School: Waltersville
  • High School: Warren Harding

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2022 05/20/22 Sold $220,000 -15.4% --
11/13/2021 11/13/21 For Sale $260,000 -- --
Source: SmartMLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: SmartMLS

MLS Number: 170451982

SmartMLS