3.9 Acre Development Opportunity - Danvers, MA

Vacant Land for Sale
Catylist Listing ID: 30331626
Property Subtypes: Office, Retail, Self Storage
Gross Land Area: 3.90 Acres
Sale Price: $4,900,000
Unit Price: $1,256,410 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/14/2022

Overview / Comments

153-B Andover Street is an interior lot of approximately 3.9 acres with shared access along a common road off Andover Street, Danvers, MA. This is a rare opportunity to purchase 3.9+/- acres of land in the heavily traveled commercial retail corridor of Route 114 off Exit 47 along I-95.

The property is currently used for vehicle storage for approximately 400 cars for a local auto dealership.

There are utilities at the site and site is currently improved with asphalt, granite curbing, landscaped islands and stormwater catch basins.

The land is located in the RT114-A zoning district which allows for the development of many commercial uses, including; Retail Sales, Medical Office, Professional Office, Warehouse Self Storage, Restaurant and many others.

Additional Details

Nearest MSA: Boston-Cambridge-Newton
County: Essex
Taxing Authority: City of Danvers MA
Tax ID/APN: 055/015/01B
Zoning: RT114-A
Property Located Between: Boston, MA and Portsmouth, NH
Property Visibility: Good
Largest Nearby Street: Route 114
Traffic/Vehicle Count: 36,000
Highway Access: Excellent Highway Access from I-95 Exit 47A and 47B.
Airports: Boston Logan Airport
Site Description: The topography of the land is level with an existing surface parking lot for 400+/- cars. The property is adjacent to Lowe's and is currently being used for vehicle storage for a local auto dealership.
Area Description: The property is adjacent to Lowe's with other prominent national retailers nearby. The immediately surrounding area is home to many national and regional auto dealerships located along Route 114.
Lot Frontage: Interior
Zoning Description: RT114-A
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,359 78,470 195,161
Median Age: 55.89 44.52 42.19
Households: 4,692 31,810 79,251


Photograph of Listing Agent

Mike Harrington, CRE, CCIM

Harrington & Company NECPE Member
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