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157 Oakdale Rd - Well Positioned Development Opp
1.5 Acres of Commercial Land Offered at £599,490 in Johnson City, NY 13790
Investment Highlights
- Prior High Use Approvals
- Prior Site Approvals Show Plausible Uses
- Good Location for High Density Use
- Economic Zone With Expansion Planned and Occurring
Executive Summary
1. Strategic Location: Nestled in a vibrant neighborhood with proximity to shopping, dining, and employment centers.
2. Innovative Construction: Modular construction reduces costs and accelerates the project timeline, ensuring faster occupancy and revenue generation.
3. Strong Market Demand: With a growing population and limited housing supply in the region, this development addresses an urgent market need.
4. Attractive Financial Returns: A carefully crafted financial plan highlights strong cash flows and ROI projections, making this a lucrative opportunity for investors.
Purpose of the Offering Memorandum
This proposed use plan provides comprehensive details about the project, including:
• Market Analysis: Demographics, rental trends, and growth opportunities.
• Financial Projections: Detailed income, expense, and ROI schedules.
• Development Strategy: Key phases of the project from acquisition to completion.
Vision
The 70-unit apartment complex will feature modern amenities, eco-friendly designs, and community-oriented spaces, creating a desirable living environment that appeals to both families and professionals.
Property Facts
| Price | £599,490 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Development Sale | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 1.50 AC |
| Price | £599,490 |
| Sale Type | Investment |
| Sale Conditions | Development Sale |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 1.50 AC |
1 Lot Available
Lot
| Price | £599,490 | Lot Size | 1.50 AC |
| Price Per AC | £400,488 |
| Price | £599,490 |
| Price Per AC | £400,488 |
| Lot Size | 1.50 AC |
High Use Redevelopment Property Prior Approvals for Mixed Use Office, Residential and Commercial Site Highest and Best Use Could Yield a 70 plus Unit High Density Multifamily in an area where there is a shortage of rental housing
Description
The parcel is approximately 1.5 acres and is located in the Village of Johnson City, Broome County, New York. The property fronts on Oakdale Road and is located southeast of the intersection of Evert Street and Oakdale Road. The site is located within the Patterson Creek Watershed and drains generally in the southwest direction. The property is located within the 500 Year floodplain, but outside the 100 Year floodplain. The subject parcel lies within the Village of Johnson City and is compatible with the General Commercial (GC) zoning designation. The entire site had an approved plan to be developed with a new 44,136 sq. ft. 4-story mixed use building. That expired Site Plan might best be resubmitted for a high density, multifamily 1-2-3 bedroom mix of apartments and / or condos. Current high demand for residential units of every form. This property is well placed to meet some of that demand.
PROPERTY TAXES
| Parcel Number | 034603-143-037-0001-004-001-0000 | Improvements Assessment | £0 |
| Land Assessment | £3,059 | Total Assessment | £3,059 |
PROPERTY TAXES
zoning
| Zoning Code | MH (Commercial - Mixed Use) |
| MH (Commercial - Mixed Use) |
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157 Oakdale Rd - Well Positioned Development Opp
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