Development Opportunity in Downtown Concord
Vacant Land
for Sale
| Catylist Listing ID: |
29848800 |
| Property Subtypes: |
Multi-Family, Office, Retail, Other
|
| Gross Land Area: |
0.74 Acres
|
| Sale Price: |
$1,600,000 |
| Unit Price: |
$2,162,162 Per Acre |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
3/22/2021 |
Overview / Comments
|
REDEVELOPMENT OPPORTUNITY– This property consists of a 0.74+/- acre lot featuring a 22,780+/- SF office building constructed in 1927/1958 and a 75 space parking lot. The site is comprised of 2 lots of record. The City desires to sell the property for redevelopment. It would be the City’s preference to have the existing building demolished and replaced with a new mixed use building featuring ground floor retail, restaurant, and service uses with market rate housing on the upper floors. The property is in the heart of the City’s downtown central business district within walking distance to the State House, Capitol Center for the Arts, Red River Theatres, a 516 space public parking garage, a grocery store, and dozens of restaurants and niche retail shops. The property is also located with a Tax Increment Finance (“TIF”) District and New Markets Tax Credit eligible Census Tract. The City is prepared to re-zone to CBP - Central Business Performance to facilitate redevelopment of the property into its highest and best use. Note: The property is being offered as raw land for redevelopment as it is the City's desire to have the property achieve its highest and best use. The existing building does not achieve the highest and best use of the property.
|
Additional Details
| Nearest MSA: |
Concord |
| County: |
Merrimack |
| Tax ID/APN: |
CNCD-000034-000003-000003 |
| Zoning: |
CBP |
| Market Type: |
Medium |
| Property Located Between: |
Fayette St and Thompson St |
| Side of Street: |
North |
| Road Type: |
Paved |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Pleasant St |
| Traffic/Vehicle Count: |
13,000 |
| Transportation: |
Bus, Highway, Airport, Taxi, Other |
| Highway Access: |
Interstates: 93, 393 and 89. |
| Site Description: |
This property consists of a 0.74+/- acre lot featuring a 22,780+/- SF office building. |
| Available Utilities: |
Electric, Water, Gas, Sewer |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
9,131 |
26,966 |
52,189 |
| Median Age: |
37.13 |
39.22 |
40.02 |
| Households: |
4,231 |
11,285 |
21,043 |
|
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