Remarks

REDEVELOPMENT OPPORTUNITY IN THE HEART OF DOWNTOWN DURHAM / UNH CAMPUS! This property sits at the very center of downtown Durham and offers a 60' wide x 50' deep footprint that is ready for redevelopment. The current configuration is a one-story retail building with three separate store fronts. However, with favorable Central Business zoning, this property's highest and best use would be a 4-story mixed use building with office or retail at street level, and housing above. The maximum number of permitted stories in the district is 4, although a 5th story is permitted by conditional use (according to the Zoning Ordinance attached). The current owner has preliminary elevations but no active permits. We estimate four, 750SF 2-bedroom units per level for a total of 12 units, plus the office retail space at street level. Another option would be to remove the existing structure to make way for a much-needed parking lot in the heart of downtown that could be fully automated earning cash while you sleep. Additional uses in the CB district include hotel, restaurant/bar, gallery, and theater. The owner of this property owns an adjacent property and would consider selling additional square footage that could add to the redevelopment potential of this site. All information provided should be verified by the buyer. Seller and Agent make no warranties or representations about the potential of the site - all approvals must be sought by the buyer and at their expense.

Details

MLS#: 4985373
Price: $1,000,000

Year Built: 1920

County: Strafford
Lot Size: 3485
Tax Fee: 10184