Merrimack River Potential Housing Site

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 30359624
Property Subtypes: Multi-Family, Office, Retail, Retail-Pad
Status: Pending
Gross Land Area: 2.12 Acres
Sale Price: $2,300,000
Unit Price: $1,084,905 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/3/2019

Overview / Comments

Excellent Opportunity to purchase land on the banks of the Merrimack River!. The 2.12 Acres of land with 450' of frontage on the river provide an opportunity to build Apartments/Condominiums. The City has recently rezoned this to Waterfront District-H, which will allow the construction of Multi-family Housing. The Zoning allows from 20 Units up to 40 Units of per acre! (See attached Zoning WD-H)
Located on the corner of the Comeau Bridge, South Elm Street and Railroad Avenue ideal location a housing with the Train Station across the the street and only minutes to I-495.

Financials

Finance Data Year 2018
Assessed Value - Total($) $738,700 (Annual)
Real Estate Taxes - Annual($) $18,607 (Annual)

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Taxing Authority: City of Haverhill
Tax ID/APN: 711-4-1
Zoning: WATERFRONT DISTRICT- H
Property Located Between: South Elm and Railroad Avenue
Property Visibility: Excellent
Largest Nearby Street: South Elm and the Comeau Bridge
Feet of Frontage: 523
Traffic/Vehicle Count: 12,000
Highway Access: Excellent Highway access to I-495 via South Main Street and Ward Hill Connector Exit 48 or Route 110, River Street Exit 49.
Site Description: Great parcel of land with 2.12 acres of land with approximately and 450 Feet of Merrimack River frontage.
Area Description: Located on the Merrimack River and across from the Bradford MVTA Station this an ideal SMART Growth area. Just across the river over the new Comeau Bridge is Haverhill's Historic District with many Restaurants.
Lot Frontage: 523
Lot Depth: 240
Zoning Description: Recently Re-Zoned as a Waterfront-H which encourages the use of the River and construction Apartments/Condominiums. The new Zoning allows from 20 up 40 units an acre!
Topography: Level
Easements: Utilities, Environmental
Available Utilities: Electric, Water, Gas, Sewer, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 24,193 68,491 181,439
Median Age: 35.22 39.13 37.26
Households: 9,745 27,168 66,502

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