5 Edwards Rd Lebanon, NH 03255

This 8.8-acre commercial land is located at the Lebanon/Hanover Gateway. It features extensive frontage and visibility on Route 120 and Exit 18 of I-89. The proposed General Commercial zone (GC1) allows most uses by right, including mixed commercial and residential, estimated for the summer. The zoning allows for 30% building coverage, minimal setbacks, and a 55-foot building height. The site is 3 miles from Dartmouth Medical Center, in an area with high income and housing values in New Hampshire. Traffic counts are significant, with 40,000 vehicles per day on I-89 and 24,000 on Route 120. The owner has invested $1.6 million in site work and engineering, resulting in a pad-ready and level site. There are 2,000 linear feet of on-site interior paved roads, as well as water, sewer, electric, and cable lines. The estimated cost to install these improvements is over $700,000. Lebanon has adequate sewer and water capacity for the anticipated build-out, with 8-12 inch gravity sewer main lines and a 12-inch water main running through the property. Interior road water lines are 6 inches. These site improvements lower the effective cost per acre. Residential density is subject to planning board review, with a potential density of 13 units per acre under PUD, requiring 1.5 parking spaces per unit. Potential density is 380-400 units. Commercial potential is 115,000 square feet, and office potential is 210,000-325,000 square feet. Dartmouth’s Bio and Medical startups are creating ongoing housing demand and high-paying jobs with an underserved housing stock. A study indicates a need for 4,000 additional units in the market area over the next 10 years. Lebanon’s only business park, Centerra, is built out.