1501 Alma Ave Perryville, MO 63775
- Commercial real estate
- 18.44 lot acres
Current Use by Public Records
- Creekwood Apartments / Apartment Building
Property Details for 1501 Alma Ave
- Lot size
- 18.44 lot acres
- Property type
- Commercial real estate
Description
This exceptional 18.44-acre commercial property, located at 1501 Alma Avenue in Perryville, Missouri, presents a unique investment opportunity. Situated in a highly desirable location adjacent to Interstate 55, this parcel boasts significant potential for a variety of commercial developments. The property is zoned C-2, allowing for a wide range of uses. Its strategic location offers unparalleled access to major transportation routes, ensuring high visibility and convenient access for businesses and customers. A key advantage is the potential for substantial tax benefits. A Tax Increment Financing (TIF) district is in place, with a remaining lifespan of 10 years. The TIF funds are dedicated to public infrastructure improvements within the area. Furthermore, the city of Perryville may offer a 50% property tax abatement over a five-year period for new commercial projects within the TIF district that demonstrate a commitment to job creation and significant tax revenue generation. This incentive program provides a compelling opportunity to reduce development costs and enhance profitability. The expansive acreage provides ample space for large-scale projects, making this property an ideal choice for developers seeking a prime location with significant growth potential and attractive tax incentives. The asking price for this exceptional commercial land is $1,800,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Perryville
- County
- Perry
- State
- Missouri
- Longitude
- -89.88686
- Latitude
- 37.71071
