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.47 Acres Urban Center Land for Development 893-905 W Town St Lot | Terrain commercial | 0,19 ha | À vendre | 398 680 € | Columbus, OH 43222
Certaines informations ont été traduites automatiquement.
Résumé analytique
Currently Leased by Community Farm with approved CAUV tax plan (auditor approved reduction)
Stabilized for holding at no cost to owner--cost of insurance and taxes covered by tenant
Sister property listed for sale across Martin for co-development
Across from Thrive Mount Carmel Redevelopment and future city park
The Gross Development Value (GDV) for a 7-story, mixed-use building in West Franklinton (Columbus, OH) on a 0.47-acre lot is estimated between$25 million and $31 million.
This assumes roughly 110,000 to 130,000 total square feet, yielding around 140 to 160 residential units.
1. Project Profile & Unit MixTotal Build: 110,000 - 130,000 gross square feet (GSF)Density: 300 to 340 units per acre. Estimated Unit Count: 150 total units (typically 20 Studio, 50 1-Bed, 30 2-Bed. Ground Floor: 8,000 - 10,000 sq. ft. of commercial/retail space.
2. Revenue Projections (Stabilized NOI) Studio (500 sq ft): (125 - $1,400 / month) One-Bedroom (700 sq ft): (1,550 - $1,750)Two-Bedroom (1,000 sq ft): (2,000 - $2,300/ month) Commercial Retail: ($20 - $25per sq. ft.)Annual Gross Potential Income (GPI): $3.6 million- $4.2 million
3. Valuation Math Operating Expenses: assumed at (35%) of GPI $1.3million)Net Operating Income (NOI): $2.3million - $2.7million Market Cap Rate: 6.7% GDV=NOI/Cap Rate=$2.1million/$0.067= $31million
4. Development Nuances
Parking Mandates: Columbus has reduced or eliminated minimum parking mandates for various mixed-use projects and affordable housing, greatly improving feasibility on tight lots.
Setbacks: By utilizing no setback, the developer can maximize the 0.47-acre footprint, but site plans will require approval from the East Franklinton Review Board.
Comparable Sales: Recent large-scale multifamily transactions in the immediate area (like the Horizon West portfolio) have traded at pricing that supports per-unit valuations between $150,000 and $200,000 for modern builds.
Stabilized for holding at no cost to owner--cost of insurance and taxes covered by tenant
Sister property listed for sale across Martin for co-development
Across from Thrive Mount Carmel Redevelopment and future city park
The Gross Development Value (GDV) for a 7-story, mixed-use building in West Franklinton (Columbus, OH) on a 0.47-acre lot is estimated between$25 million and $31 million.
This assumes roughly 110,000 to 130,000 total square feet, yielding around 140 to 160 residential units.
1. Project Profile & Unit MixTotal Build: 110,000 - 130,000 gross square feet (GSF)Density: 300 to 340 units per acre. Estimated Unit Count: 150 total units (typically 20 Studio, 50 1-Bed, 30 2-Bed. Ground Floor: 8,000 - 10,000 sq. ft. of commercial/retail space.
2. Revenue Projections (Stabilized NOI) Studio (500 sq ft): (125 - $1,400 / month) One-Bedroom (700 sq ft): (1,550 - $1,750)Two-Bedroom (1,000 sq ft): (2,000 - $2,300/ month) Commercial Retail: ($20 - $25per sq. ft.)Annual Gross Potential Income (GPI): $3.6 million- $4.2 million
3. Valuation Math Operating Expenses: assumed at (35%) of GPI $1.3million)Net Operating Income (NOI): $2.3million - $2.7million Market Cap Rate: 6.7% GDV=NOI/Cap Rate=$2.1million/$0.067= $31million
4. Development Nuances
Parking Mandates: Columbus has reduced or eliminated minimum parking mandates for various mixed-use projects and affordable housing, greatly improving feasibility on tight lots.
Setbacks: By utilizing no setback, the developer can maximize the 0.47-acre footprint, but site plans will require approval from the East Franklinton Review Board.
Comparable Sales: Recent large-scale multifamily transactions in the immediate area (like the Horizon West portfolio) have traded at pricing that supports per-unit valuations between $150,000 and $200,000 for modern builds.
Informations sur l’immeuble
1 Lot disponible
Lot
| Prix | 398 680 € | Surface du lot | 0,19 ha |
| Prix par ha | 2 096 085,04 € |
| Prix | 398 680 € |
| Prix par ha | 2 096 085,04 € |
| Surface du lot | 0,19 ha |
3 Contiguous lots cleared for development: UTC Urban Center zoning Up to Five Stories; Up to Seven Stories With Bonus Affordable Housing Height No Setbacks No Parking Opportunity Development Zone (Tax Abatement Incentives)
Description
.47 Acres of cleared land Urban Center UTC zoning at the corner of Town and Martin. Prime location for redevelopment with Opportunity Zone and updated zoning plan to accommodate maximum density and footprint with no parking requirement.
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Moyennement praticable à pied
60/100
Exceptionnellement adapté aux voitures
100/100
Transports en commun relativement accessibles
40/100
Moyennement praticable en vélo
60/100
Taxes foncières
| N° de parcelle | Évaluation des aménagements | 4 440 € | |
| Évaluation du terrain | 23 283 € | Évaluation totale | 27 723 € |
Taxes foncières
N° de parcelle
Évaluation du terrain
23 283 €
Évaluation des aménagements
4 440 €
Évaluation totale
27 723 €
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Présenté par
Friends of Franklinton LLC
.47 Acres Urban Center Land for Development | 893-905 W Town St
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