Property profile

0 Declaration Dr Lancaster, OH 43130

OFF-MARKET
Land
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Property summary

AI-generated overview

This exceptional 11.73-acre parcel, encompassing two lots (APN: 05-34009-210; 0534009211), presents a unique development opportunity in Lancaster, Ohio. Located at 0 Declaration Drive, 43130, this property is zoned RS-3 and offers a total of 510,958.8 square feet, representing Section 2 of the Brentwood Subdivision. The land is priced at $44,757 per acre, with an asking price of $545,000. While preliminary engineering work for streets, sewer, and water lines was completed in 2003 and approved by the City of Lancaster, these plans require updating and re-approval before construction. Importantly, no improvements (roads or utilities) currently exist on-site. However, city gas, water, and sewer services are readily available at the property's edge. The site's potential is significant, with plans indicating the possibility of developing up to 39 residential lots. This presents a compelling investment for developers seeking to capitalize on the demand for residential properties in this desirable Lancaster location. This is a rare opportunity to acquire a substantial land holding with significant development potential.

Property profile

Verified
Property type Land

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

Declaration Dr Lancaster, OH 43130
Lancaster metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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