202 County Rte, Watertown, NY 13601
This exceptional 54.58-acre parcel in Jefferson County, New York, presents a unique investment opportunity. Previously approved for a substantial 359-unit residential development, this land is zoned for Neighborhood Commercial use and offers significant potential for immediate development. The approved plan includes thirteen 5-unit apartment buildings and forty-two 7-unit apartment buildings, totaling 359 residential units. Further enhancing the project's appeal are plans for a substantial 5,500+ square foot clubhouse and a 1,600+ square foot maintenance building. The property's strategic location offers unparalleled convenience, situated less than a mile from I-81's Arsenal Street exit (Route 3), providing easy access to major transportation routes. Its proximity to downtown Watertown (3 miles) and Fort Drum (10 miles) ensures strong demand and a robust rental market. The site is located at County Route 202, Watertown, NY 13601, and is ready for immediate development, offering a rare chance to capitalize on a pre-approved, large-scale residential project in a high-demand area. This is a prime opportunity for developers seeking a turnkey project with significant upside potential. All necessary approvals are in place, streamlining the development process and minimizing delays. Don't miss this chance to acquire a substantial land holding with a proven development plan in a thriving New York community.
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.