Description
We are proud to present a new covered land opportunity in the high-demand Edgewater market just off NE 2nd Avenue. Located within a Qualified Opportunity Zone and zoned T6-8-O, this property has a variety of allowable uses including Retail, Office, Hotel and Multi-Family. With the acquisition of just this lot, the by-right allowable density is 25 units and up to 8 stories before bonuses. There may also be the opportunity to assemble additional land to grow the footprint for a potential project. There is an existing multi-family building on the site which contains 4 units with short-term tenants and the NOI from the in-place income can be used to cover the costs of holding the asset for a longer term play.
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0BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
We are proud to present a new covered land opportunity in the high-demand Edgewater market just off NE 2nd Avenue. Located within a Qualified Opportunity Zone and zoned T6-8-O, this property has a variety of allowable uses including Retail, Office, Hotel and Multi-Family. With the acquisition of just this lot, the by-right allowable density is 25 units and up to 8 stories before bonuses. There may also be the opportunity to assemble additional land to grow the footprint for a potential project. There is an existing multi-family building on the site which contains 4 units with short-term tenants and the NOI from the in-place income can be used to cover the costs of holding the asset for a longer term play.
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