133 Acres- mixed use site I-89 frontage

Vacant Land for Sale
Also listed as Multi-Family, Office
Catylist Listing ID: 1979241
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail
Gross Land Area: 133 Acres
Sale Price: $5,650,000
Unit Price: $42,481 Per Acre
Land Splits Available: Yes
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller, Owner Financing, Other
Last Updated: 10/13/2021

Overview / Comments

133 acres zoned multi-family & office, with a retail component.
mix of multi, townhome, freestanding at only $12,000 per unit.
Up to 400 units with PUD and density bonuses, plus up to 80,000 SF commercial with some limitations. The last remaining site of significant size and zoning in this hot corridor of Rt. 120 due to limited zoning. the only commercial site in market with Interstate frontage and visibility. Just 2 Miles to Dartmouth Medical Center and 3 business parks, hotels, etc. 5 Miles to Dartmouth College. The Upper Valley has long been known as a the most significant medical and biotech center in NE outside of Cambridge. Providing a recession proof, stable, and highly educated market. Further indicated by Forbes 2010 study “Lebanon is least vulnerable to recession in US for mid-size cities”. Strong housing demand demonstrated in several surveys. Dartmouth announces $130M, 200,000 SF hospital expansion, adding an additional 300 employees, on top of 1300 needed now, plus the ongoing college and town wide demand. Some historic significance. This site once produced bricks in large kilns, which remain. The best site amenities of any location in the market- 2000 ft. Interstate frontage, adj. to 2000 ac open space, clean 5 acre pond with outlet stream running through, across the street from schools, adjacent to downtown core area, various terrain for views of the pond and area hills, 1800’s brick kilns. Adequate utilities are at the site. Possible complimentary uses: park n ride, transportation hub/terminal for private and public lines (identified as best site in 2015 study), open space sharing with school, town, solar array, new city fire dept station and community center. . Some possibility of reconnecting Hanover St over I-89 replacing the pedestrian bridge to solve the bottle neck at the exit, enhancing the accessibility and uses (hotel site?). Under NHDOT study now. Some engineering available. 2019 phase one available. Low land cost in a high sale/rent market. No current use penalty provides a savings of 10% of the assessed value of the approved project. Offering flexible terms for phasing. see attached market study. 4 mo. absorption rate, Sales $375/sf, rents $2000+

Additional Details

Nearest MSA: Claremont-Lebanon
County: Grafton
Submarket/Township: Hanover/Lebanon
Submarket Type: Suburban
Tax ID/APN: 48-1,3,4
Zoning: OFFICE, SERVICE, RES, MULTI FAMILY, MEDICAL, NEIGHBORHOOD RETAIL
Market Type: Medium
Property Located Between: Lebanon and Hanover
Side of Street: South
Road Type: Highway
Property Visibility: Excellent
Largest Nearby Street: rt. 12a
Feet of Frontage: 4,000
Transportation: Bus, Highway, Airport, Other
Highway Access: 1/4 mile off ramp
Airports: Lebanon regional
Site Description: adj to high school, downtown core area and 2000 ac open space.
Area Description: 2 miles to Dartmouth medical center. adj. to downtown core area., grade school and high school. adj. to open land of Dartmouth College- a popular hiking, biking recreation area.
Lot Frontage: 600
Zoning Description: possible PURD allows cluster, additional uses (retail, larger offices)
Development Name: Densmore Brickyard
Topography: Rolling
Easements: Electric Lines
Easements Description: elec easement recording not found.
Available Utilities: Electric, Water, Cable, Broadband
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,377 15,081 29,129
Median Age: 37.27 38.82 37.37
Households: 2,199 6,890 11,695
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