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    OFF-MARKET
    Land

    26 Acre Multi-Family Development Site, Lewiston, NY 14092

    1 SF 26.4 ac lot
    Property ID
    Property summary
    AI-generated overview

    This exceptional 26.4-acre development site in Lewiston, New York, presents a unique opportunity for multifamily construction. Currently zoned Rural Residential (RR), the property is poised for re-classification as a Planned Unit Development (PUD) upon site plan approval. The site boasts a desirable location with two ingress/egress driveways conveniently situated on Creek Road (NYS Route 18), offering excellent accessibility. The land itself is high and dry, gently sloping, and partially wooded. Utilities are readily available at the driveway entrances on Creek Road, including county sewer and water, National Grid electric, and National Fuel gas. Storm drainage is also handled by the county. The property's estimated 2023 real estate taxes total $1,968 ($859 city/town, $1,109 school). The asking price is $950,000, representing a price per unit of $5,655. The seller offers flexible financing options, including the possibility of holding a mortgage to assist with the entitlement process. This is an ideal opportunity for developers seeking a substantial multifamily project in a prime location. The parcel's SBL is 88.00-1-47.2.

    Property profile
    Verified
    Property type Land
    Total area 1 SF
    Lot 26.4 ac (1,149,984 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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