26 Acre Multi-Family Development Site, Lewiston, NY 14092
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.