Amherst Motel

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 29779212
Property Subtypes: Hospitality, Industrial, Multi-Family, Office, Self Storage
Status: Pending/Contingent
Gross Land Area: 8.80 Acres
Sale Price: $2,500,000
Unit Price: $284,090 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2017

Overview / Comments

Redevelopment site located at the Amherst/Hadley towns line. Approximately 4.8 acres are in Hadley and 4.1 acres are in Amherst. This site is currently improved by the Amherst Motel and does contain some wetlands which will limit the development to an area of between 4-5 acres, mostly on the Amherst side. Amherst has this area currently zoned for office, warehouse, light industrial and research and development. The Hadley zoning would allow for most business uses. There are possibilities for multifamily housing in Amherst.

Financials

Finance Data Year 2016
Assessed Value - Total($) $1,223,000 (Annual)
Real Estate Taxes - Annual($) $25,952 (Annual)

Additional Details

Nearest MSA: Springfield
County: Hampshire
Taxing Authority: Amherst & Hadley
Tax ID/APN: Amherst - Map 13 D, Lot 51 & Hadley - Map 10D, Lot 23D
Zoning: MIXED - PROFESSIONAL RESEARCH PARK & GENERAL BUSINESS
Market Type: Medium
Property Located Between: Rt 9 and S University Drive
Side of Street: South
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Russell Street - Route 9
Feet of Frontage: 120
Transportation: Bus, Shuttle, Taxi
Highway Access: 10 minutes to I-91
Airports: Bradley International is 40 minutes
Site Description: Currently improved by the Amherst Motel. Site is partially wooded and does contain some wetlands.
Area Description: Heart of 5 College Region just south of UMASS Amherst and Amherst College. Close to downtown Amherst and many national flag retailers.
Lot Frontage: 120
Zoning Description: Professional Research Park and General Business
Topography: Gently Sloping
Easements: Electric Lines, Utilities
Available Utilities: Electric, Water, Sewer, Cable, Broadband
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,387 38,690 54,579
Median Age: 39.97 28.75 32.62
Households: 972 9,480 16,776

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