Gomberg Report >
Development Opportunities

We feel there is a window of opportunity now to convert old Mills, Warehouses, Office Buildings and other type Industrial buildings into residential housing utilizing the HUD 221-d4 loan program. It can also be used for apartment buildings with high vacancy and in need of rehab. Under the HUD 221-d4 loan program you can get up to 90% LTV financing that is fixed for 40 years and includes both hard and soft costs rolled into a non-recourse mortgage.

We feel most of the listings on this page would work as housing using this program.

The circumstances of the current housing economy have created an opportunity for investors and develpers with vision. The construction industry is slow and you could get more competetive project pricing and probably a shorter project completion timeline. Also, if your goal is to convert to condominiums down the road when the housing market rebounds, we can structure the financing so that the prepayment penalty burns off after 5 years. Current interest rates are in the mid 6's.


Potential number of units has been estimated by deducting 20% of total square footage for common areas and using 800 square feet per unit from the remaining 80% square footage. This is just a general guideline and each property will have unique characteristics which would determine this number.

Updated 6/11/2010
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State |

Town
Property Description
Asking Price
Square Feet
Potential #of Units
$ per sq ft
Comments
Contact Broker
Alabama
No current listings

Arizona
Phoenix
Land
5.92 acres
Vacant land zoned PCD; R-4A - Multiple Family Residential. Located in the Ahwatukee Foothills area less than one mile from th I-10 freeway.
Phoenix
Land
1.61 acres

Motivated Seller. Vacant land located in the neighborhood at 7th St & Roosevelt. New condo developments surround on all sides. Ideal for mixed use: residential, retail, multifamily, live/work. High-density (56' Height) R5 Zoning with mixed-use overlay which allows most commercial uses.
Colorado
Conifer
Land
22.8 acres
60

22.82 Acres of Mountain Terrain Land Approved for 60 Units of Townhouses with Potential For 75 Units. Existing Wells Support 60 Unit Development. Beautiful Trees and Views.
Lafayette
Land
Price Undisclosed
Financing Available
8.23 acres
31,190 SF commercial or retail with 2 stories of interior hallway residential with underground parking (preliminary approvla). 149 units residential - 60 above commercial space, 84 units of townhomes and 3 story exterior walkup plus 5 single family (preliminary approval).
Connecticut
Ansonia
Mill Buildings
New Listing
227,000
227
9.91

Adaptive ReUse opportunity. Mill buildings ready for conversion to housing, etc. Proposed conversion plan shows 72 residential units (could be more). Various buildings also include an occupied office building with tenant paying $150,000 NNN annually for at least 5 years.

Meriden
Multifamily
New Listing
89,592
66
11.03
Opportunity for multifamily redevelopment. Approved for up to 66 units. Three elevators.
Moosup
Mill Bldg.
80,000
80
16.88
River front medium size mill in good condition. Currently houses a trucking company and a welding company. It is approved for development for 22 apartment units and 70 storage spaces. The town has also approved construction of a 2 story, 240 x 60 foot building on the property.
North Grosvenordale
Mill Bldg.
750,000
750
9.11
Mill building ideal for conversion to residential. All five floors are at glad level. Ceiling heights from 8' to 14.5'. Building is fully sprinklered and alarmed. Three freight elevators and handicap accessible.
Delaware
Dagsboro
Land
336
336 unit fully approved high density apartment complex located in downtown close to resort area and Bethany Beach. Public utilities on site.
Delmar
Land
68 acres
352
68 acre site with preliminary approval for 352 apartments. All engineering, survey and approvals on file.
Delmar
Land
97 acres
120
Preliminary approval for 120 unit conceptual plan on 97 acre site with 3000+ feet of frontage along two major roads. Owner will complete all final engineering and approvals.
Land
18.35 acres
297
18.35 acres with water & sewer. Potential for 297 apartments. Some plans and engineering is done. Located near casino.
Georgia
Atlanta
Land
2.2 acres
389
Zoned Mixed Residential Commercial. Zoned for 389 residential units and 20,000 sf Commercail. Tax Incentives & Bond Financing possibilities. Located in the Castleberry District minutes from Centennail Olympic Park and Downtown Atlanta.
Atlanta
Under Construction
316,000
264
16.99

Assembled Courtland Land Near I-85 for Apts-Mixed. Great property in Zoned C4 and located between Pine St. and Renaissance and East of Courtland St. The location provides easy access to Emory Crawford Long Hospital as well as many of Atlanta's largest corporations and financial institutions. The location within the Eastside Tax Allocation District qualifies for tax incremental financing of 5.5% to 11% whereby increases in base property taxes and the size of the project are allocated to the development itself through bonds pledged by the City of Atlanta and Fulton County.
Iowa
Des Moines
Office Bldg.
132,418
132
12.09
Vacant Art Deco-style office building connected to the extensive downtown skywalk system. 14 stories with 3 story annex. Located in the heart of the Central Business District.
Indiana
Fort Wayne
Apartment Bldg. Complex
527,775
484
1968 Apartment complex situated on 37 acre parcel. Approximately half of the 484 units are vacant and in need of rehab.
Indianapolis
167 unit Apartment Bldg. Complex
1975 Class B Apartments situated on 11 acre site. There are 159 1BR and 8 2BR/2BA units.. Value added/repositioning opportunity. Renovated in 2005. Low to no deferred maintenance.
Kansas
Arkansas City
Office Bldg.
36,000
36
22.22
The "A. C. Office Building," was constructed in 1929 in Art Deco design. This structure has typical Art Deco geometric and stylized motifs as well as a vertical emphasis to its façade. Originally home to many of Arkansas City's professional offices, it encompasses five floors of retail and professional office space. The building is top-notch and very solid. A new roof costing $66,000 was completed in 2006.
Kansas City
Land
41 acres
410
Located 1/2 mile from Legends Speedway shopping area. Existing house rents for $1200 a month. Price reduced.
Overland Park
Land
Vacant land has been approved for 360 units: 312 of two and three story apartments and 48 of two story apartments (larger format).
Kentucky
Georgetown
Land
11 acres
Property is zoned for Multi-family with utilities to the site. Preliminary engineering completed.
Independence
Land
40 acres
40 acre sit is developed and graded with utilities in place. Ideal for apartments.
Louisiana
New Orleans
Multifamily
New Listing
508,338
500
30.49

This building consists of a 330 car valet-parking garage, a 30,000 square foot annex, and a 348,390 square foot tower with different size floor plates. The interior improvements have been gutted and the building has been environmentally remediated. The building is ideally suited for a mixed-use of retail, office, and apartments. This property is located near the Union Transportation Terminal, the Louisiana Supedome and New Orleans Arena.
Maine
Biddeford
Mill Bldg.
713,183
713
3.15
Property consists of twelve buildings on 11.33 acres overlooking the Saco River. All buildings are masonry construction on granite foundations and sprinklered. Most are serviced by city water and sewer.
Lewiston
Mill Bldg.
410,000
410
6.10
Mill situated on 5+ acres of land. 50,000 sq. ft. on each floor. City water and sewer. Four loading doors. Parking for 150-200 cars. Building entirely sprinklered with wet/dry system.
Portland
Harborfront Land
Price Negotiable
Financing Available
10 acres

10-acre development site on Portland Harbor with 1,000 linear feet of waterfront. 15 bldgs on-site - several structures suitable for historic renovation. Concept plan in place for residential, hotel, retail and office use along with expansion of existing marina. PRICE IS NEGOTIABLE.
Windham
Mill Bldg.
58,000
58
20.68
River front location. Three buildings and undeveloped land parcel. Full coverage sprinkler system and 2 well maintained elevators.
Maryland
Edgewood
 
Land
40 acres

4-50 unit waterfront 6 story condo's w/lower level parking garage @ record w/ 100 new boat slips. Also available additional 8,500 sq. ft. retail (specialty shop) and 5,600 sq. ft. 2 story dock masters building. Owner will consider joint venture with developer.
Massachusetts
Brockton
Office Bldg.
61,168
61
22.87

8-Story, 61,168 SF brick and glass building sitting on 0.189 acres in downtown Brockton. Located in Brockton' s I-2 Zoning district, the building allows for many uses including office, retail, warehousing, wholesale, and residential by permit. The property is eligible for New Market Tax Credits as well as Federal and State Historical Tax Credits. The building design lends itself to a variety of potential mixed use developments. The site is directly on Route 123 providing easy access West to Route 24/I-495 and East towards Abington, Rockland, and Weymouth. Across the street is the BAT Bus Terminal and MBTA Commuter rail.
East Bridgewater
Mill Bldg. Complex
84,000
84
16.07
This site offers many opportunities for redevelopment. Comprised of 7 structures including some of the original brick mill buildings. Site is 8 Acres on Satucket River. Located on Rt. 106 with easy access to Rt. 24. Currently there is a on-going self-storage business with 246 storage bins of varying sizes which is located in 2 of the buildings. Historic tax credits may be available. Site abuts 32 Acres of town land with attractive landscaping.
Easthampton
Mill Bldg.
125,368
125
7.66
4-story masonry building situated on 4.4 acres of land. Close proximity to I-90 and I-91.
Easthampton
Mill Buildings
New Listing
300,000
150
5.00
Historic mill renovation has been gutted and demolished. Construction ready property is ideal for residential conversion or industrial uses with 150+ permitted live/work units. This is a waterfront property consisting of several old mill type buildings totaling 300,000 +/- sq. ft. all situated on 3 parcels of land totaling 18.25 +/- Acres. Easy access to Routes 5, 10, 141 and Interstate 91 means easy commute for potential residents.
Fall River
Mill Bldg.
150,000
150
11.33
4-story building approved for 51 Artist Loft Condos with permits and plans in hand. Top two floors have water views.
Fall River
Mill Bldg.
265,599
265
12.05
Property consists of three mill structures situated on 9.15 acres of land in the downtown area. Sprinkler, fenced yard.
Fitchburg
 
Land
106 acres
216
Residential lot suitable to build 216 units. Plans for approval almost complete; for 9 buildings of 24 units each. Located off Rte. 2 minutes from town center.
Grafton
Mill Bldg.
118,000
118
29.66
Historic Mill building on Blackstone River. Ideal redevelopment opportunity. Fully sprinklered. Municipal water and sewer. Historic tax credits.
Haverhill
Land
37 acres
179

Fully approved 179 unit residential condominium project located just off Exit 49, I-495. Permitted under 40B regulations. Three buildings with 58 units each on 37.4 +/- acres. Parking under all buildings. 21 1BR, 153 2BR/2BA & 5 townhouses. Unit sizes range from 800 to 1350 SF. The land was approved on December 24, 2003 under a Comprehensive Permit for development of a 179 unit condominium via Mass General Laws Chapter 40B.
Of the total 37.4 acres of land, only 7.4 acres will be used in the development with the other 30 acres remaining as open space. Priced at $18,000 per approved unit.
Haverhill
Mill Bldg.
60,482
60
24.83
Located in the heart of the downtown Historical District, these 2 buildings are ideal for residential or offices. One bldg.6 floors and the 2nd bldg. has 4 floors.
Lawrence
Mill Bldg.
38,000
38
32.89
Located in downtown directly accross the street from the New Federal Regional Immigration center. It has been approved for $1.3M Federal Historical Tax Credits and $1.3M State Historical Tax Credits. These credits can be up to $.40 on your Renovation Dollar. Additional City Grants are Available. Off street parking in seperate lot, included in price. 1st floor 20,000 SF, 2nd floor 12,000 SF, 3rd floor 7,000 SF
Monson
Industrial Bldg.
286,000
286
5.94
Vacant Industrial/Warehouse situated on 18 acres
Needham
No Picture
Land
Price Negotiable
Financing Available
4.5 acres
4.5 acres zoned for acre lots. 40B potential. 500' frontage. Sewer available.
New Bedford
Industrial Bldg.
237,000
237
12.45
Property consists of 3 contiguous Mill buildings, 3 stories each totaling 237,000 square feet w/ 2 freight elevators, 6 loading docks, 6 rest rooms, parking for 100+ vehicles on 2.77 acre corner lot. ADA compliant. Extensive renovation includes: computer controlled heating system comprised of 15 natural gas units, interior sandblasted, windows replaced, roof. Clear 21E on file.
Revere
Land
14 acre
55
14 acre lot directly across from the beach and walking distance to the MBTA station. Property is being re-zoned for an 8 story 55-unit condo project.
Somerville
Land
1.07 acre
39
Turnkey development with building permits in hand & ready to construct 36 residential & 3 commercial units on over 1 acre of prime land only minutes to Harvard Sq. Special Permit approval for 4 separate four story wood framed buildings with 66 parkig spaces. Build on Somerville Avenues' new 23 million dollar beautiful roadway reconstruction, close to shopping and Red Line T station at Porter Sq.
Taunton
Mill Bldg.
47,464
47
14.64
Fully sprinklered Brick Mill bldg. zoned Urban Residential; Grandfathered Industrial Use. 9-12' ceiling height, city water and sewer and parking for 60+ cars.
Worcester
Mill Bldg.
31,200
31
35.26
Beautifully restored mill-style brick building located less than a mile from downtown and Rt. 290. The building has large perimeter windows and will be totally renovated with new elevators, electrical, HVAC, and custom build out. 4 floors with 7,800 sf per floor. The building is on four WRTA bus routes in a neighborhood that is in the process of revitalization and has a traffic count of over 23,000 vehicles per day.
Minnesota
Apple Valley
Land
5.21 acres
244
This property is planned and approved for a 244 unit multi-family housing project. Zoned PD-719 (apartment). Property is improved with utilities.
Saint Cloud
Land
13 acres
287
13.18 acres of prime development land zoned R5-Multiple dwelling. This property is set up for approximately 287 units.
Missouri
Kansas City
Office Bldg.
175,186
175
Historically renovated property is 100% vacant. Placed on the National Register of Historic Places in 1970. Located in the north central portion of downtown.
St. Louis
Industrial Bldg.
129,214
129
10.00
Ideal Loft/Apartment Redevelopment Candiate. Ideal for Historic Tax Credit Rehab. Parking Available. Property has a "No Further Action" letter from Missouri Department of Natural Resources. Took part in Brownsfield Program.
Saint Peters
Land
12 acres
This 12 acre site is located in the middle of a lot of housing developments and has access from Hwy. 94 and is very close to the Mid Rivers Mall Dr.
Nevada
Reno
Land
64 acres
600-900
Prime property with substantial views perfect for buildings apartments or townhomes. The 64 acre site includes 33 acres of buildable space, allowing for between 600 and 900 units.
New Hampshire
Manchester
Land
10 acres
144
144 mid-rise luxury units (4 story with underground parking) on the Merrimack River in Manchester, NH. Redesign offers a total of 158,448 SF for apartments or condos. This is the "Flagship" portion of a larger 26-acre Riverfront Development Master Plan and project of the City of Manchester. All utilities are at the site and development may begin immediately.
Nashua
Land
3.64 acres
104
Approved Residential Development. Three buildings w/ total of 104 units (two buildings with 40 units and one with 24 units) in excellent location near downtown Nashua & Route 3. Units consist of a few one & two bedroom designs. Access via East Hollis (Route 111) & Marshall Street. Site plans available. Financing already in place. Take over entire project or become equity partner for as little as $400,000 (for qualified buyer). Many options available. Willing to entertain interesting possibilities. Additional adjacent 1.38 acre commercial lot available for $749,900.
New Mexico
Rio Rancho
Land
5 acres
Excellent apartment development opportunity with almost all utilities at site. R-6 zoning is the highest density allowed in Rio Rancho. Property is near three excellent schools and planned commercial developments.
Rio Rancho
Land
7.25 acres
180
7.25 acre site fronts on 4 arteries and has panoramic views of the Sandia Mountains. Surrounding land uses include single family residential, light industrial and a cemetary.
North Carolina
Asheville
Land
33 acres
90
Land zoned RM6 Multi-family. All public utilities available. Great mountain views. Minutes from town.
Charlotte
Land
7.5 acres
240
Preliminary site plan shows potential layout for 240+ unit multi-family project. Recent due diligence completed; survey, environmental, utilities, etc. Four houses on site can be rented for income during holding period.
Charlotte
Land
10.82 acres
180

Approx. 500 ft. of road frontage in a rectangular shape running approx. 1026 ft. deep laying flat and heavly wooded. Zoned for 17 units per acre. Highly desireable location in the University , IBM area off Harris Blvd. on Mallard Creek Rd. The surrounding properties consist of a fairly new condo complex and a large R & D complex that includes IBM and adjoins Wachovia complex. This property is approx. 1 mile from Harris Blvd. which is a inner beltway and approx. 2 miles from Interstate 85 and UNCC.
Charlotte
Land
17 acres
379
Zoned R-22 Multi-Family (22 units per acre) the site is located 2.5 miles from the center of Uptown Charlotte. City water and sewer.
Fletcher
Land
26 acres
400+
CU-CR zoning allows over 400 Multi-family units and up to 7,000 sqft of commercial space. Part of the Fletcher Greenway.
Kannapolis
Land
37.42 acres
370

Proposed development for Multi Family Units or Independent Living Complex - approximately 38 acres zoned for 15 units per acre (370 units max). Frontage onto major Hwy 3 (1,481') as well as access from Rainbow Drive. Located only minutes from new Bio-Tech Research Campus on major route between Kannapolis and Concord/Mooresville. Cabarrus county is one of the fastest growing areas surrounding Charlotte.

Leland
Land
43.34 acres
336
43+ acres of Multi-Family zoned land planned for 336 units with potential to expand another 72 units. Engineering complete. Ready for site specific approval from the city. Clubhouse and 3 story 24 unit plans included. Zoning allows 13.5 units per acre.
Moyock
Land
41 acres
176
41 acre mixed use Multi-Family development site. The property has county approval for 176 units plus 2 acres of business use.
Wilmington
 
Land
6.72 acres
117
Shovel ready land zoned Multi Family Medium Density for 117 units. Access off of Carolina Beach Rd, close to Shipyard Blvd. intersection.
Ohio
Cincinnati
Industrial Bldg.
90,000
90
22.22
Vacant 6-story sprinklered industrial building located one block from Washington Park.
Cleveland
Office Bldg.
82,000
82
9.51
6-story loft building ready for conversion. Upper floors offer excellent views of Lake Erie. Fenced parking lot also included. In the heart of the St. Clair / Superior neighborhood.
Warren
Office Bldg.
Price Undisclosed
Financing Available
56,000
56
Historic Bank Building located in heart of downton on Courthouse Square. Redevelopment Tax Credits available.
Oregon
Eugene
Land
12.27 acres
320
Approved for 320 multi-family units. Zone R-4 - High Density Residential. Good access to Belt Line Hwy and 5 miles to downtown Eugene.
Junction City
Land
4.67 acres
R-3 Multi-Family Residential Zoning. Great development opportunity to meet staff housing needs for the proposed state prison and hospital.
Portland
Land
1.29 acre
120
Central Commercial and High Density Residential. Previous development plans had layouts of 117-124 units. Sited directly across for the MAX Station on Burnside and 120th.
Pennsylvania
Allentown
Land
2.75 acres
114

This is a fully approved project for 114 Senior Apartments with a 7000 sqft Senior Daycare facility. Third party contract for running the 7000 sqft Senior Daycare is currently secured. Everything is in place and ready to go. The property will cost approximately $7-8 MM to construct (hard costs, soft costs, site improvement, and financing fees). Total cost of development (including land acquisition) is between 10.3 MM to 11.3 MM. After construction value of approximately $14 MM at a 7% cap rate. After all expenses, the completed project (with 4% vacancy) is projected to have a 1MM annual Net Operating Income.
Bradford
Office Bldg.
79,329
79
44.127
Downtown 7-story office building with retail on the first floor. Currently 50% occupied.
Jim Thorpe
Industrial Bldg.
70,000
70
7.13
Vacant industrial building ready for development. Eleven acres of land offers many potential uses.
Philadelphia
Industrial Bldg.
159,000
159
37.11
Two industrial buildings and parking lot. Zoning variance and plans ready to go. Historic tax credit available. Located in the Kensington / Fishtown area.
Philadelphia
Industrial Bldg.
65,000
65
50.77
Good opportunity to develop this building into residential units or mixed-use. Located close to Philadelphia Center City.
Land
Price Undisclosed
40,800
33
We are looking for construction financing for 28 high end residential condos and 2800 square feet of flex commercial. Has basement garage parking. 14 -1bd 1 1/2 bath, 10 -2bed 2bath and 4 -3 bed 2 bath ranging from 800 to 1570 square feet. All are single floor units with elevator. One of the best features is a 10,000 square foot green roof garden with decks for a private park like atmosphere. Other sales points are, 10 year tax abatement, Green building, New construction. All units have balconies, On site self storage, On site fitness room. Project is approved and ready for permits. This project is going to be the right project at the right time. There will not be many new construction properties that will compare in amenities, location, and price point.
Philadelphia
Office Bldg.
120,000
120
29.17
120,000 sf. 50x200 brick/concrete. Side bldgs. 50 feet making 90 feet frontage and 200 feet of side facing in Broad and intersection. 1929 deco. 5 elevators. 10k s.f. fls. Commercial ground fl. Immediately rentable as large store or pharmacy chain. 12 floors ideal for residential conversion.
Philadelphia
Industrial Bldg.
197,000
197
8.12
197,000 S.F. buildable 300,000 S.F. full block assemblege . at 21st and Allegheny Ave. In heart of development zone.
Contact broker for package. Located in KOZ tax free zone for 4 more years as a development incentive. Site has some 2 story buildings that can be built up to 5 story to maximize square footage making approx. 300,000 s.f. net usable plus parking.
Philadelphia
Industrial Bldg.
178,000
178
43.82
178,000+/- sqft Industrial building. C3 Zoning with plans for 142 residential units and 2 commercial spaces. Development of Loft style condominiums. Also suitable for conversion to assisted-living, student housing, or subsidized/artist housing.
Philadelphia
Warehouse
47,968
48
62.52
Loft District Seven-Story Warehouse in excellent condition. Currently in use. Very clean and well maintained. All systems at high function---HVAC---heat, plumbing, electric. Top floor offers views in all directions---Many window openings. Freight elevator. Two overhead doors and bays on 10th street. Sale includes adjoining lot for parking measuring 35 x 50 feet. Each floor excluding stairwells and elevators is well over 7,000 SF. Great for a variety of businesses which also require storage. Also could be low density development project as live/work spaces or higher density as workshop/studio and light manufacturing spaces.
Philadelphia
Warehouse
33,000
33
33.33
Existing 2-story warehouse with land zoned G2. Variance for 25 units with parking in an upcoming development area.
Pittsburgh
Office Bldg.
50,000
50
38.00
Ideal for residential conversion. 9-story 45,000 sq ft building and two 1-story 2,500 sq. ft. buildings, plus parking lot. Two freight elevators, ceiling height 11' to 17', concrete floors and columns throughout. Located between downtown Pittsburgh and the Strip District.
Reading
Industrial Bldg.
120,000
120
4.58
Property consists of seven buildings situated on nearly 3 acres of land. Located just south of the Penn Street Corridor the property is adjacent to rail service and has been designated as a Keystone Opportunity Zone that offers some level of tax incentives.
Rhode Island
Pawtucket
Mill Bldg.
300,000
300
15.00
Historic turn of century Brick industrial Mill. Red brick with granite and concrete details. Designed and approved for mixed use commercial and live/work occupancy. 14 buildings grouped around a private street.The complex integrates design and recreational uses with artist live/work spaces. Separate buildings accomodate larger industrial tenants. The space is evocative of its mill background with large windows, high ceilings, and wood floors but boasts modern conveniences such as high speed internet access, individual utility control and full compliance with the newest state fire safety code.
Providence
Mill Bldg.
56,000
56
12.41
Four-story brick mill contains 12,000 sq. ft. on each floor. Loading dock, elevator and sprinklers. Located in Elmwood District adjacent to Downtown.
Providence
Apt. Bldg.
61,168
61
57.37
Historic Lapham building ready for re-development. Perfect for residential loft and/or student housing. Comparable apartments are near occupancy. Located in downtown retail district.
Providence
Mill Bldg.
86,000
86
20.35
2-story brick building located near Elmwood Ave. The property can be converted to residential or office space, or continue to be used for light industrial. Parking for 80 cars
Woonsocket
Mill Bldg.
300,000
300
2.50
Well kept, owner occupied mill on 7.5 acres ideal for a residential / commercial conversion. The property sits on 7.5 acres along the Blackstone River in the northern part of RI near the Massachusetts border. It is directly across the street from a similar building that is in the process of a conversion to residential loft condominiums.
South Carolina
Charleston
Land
15 acres
111
15.28 acre parcel at lighted intersection in West Ashely. Property currently designed and approved for a 111 unit multi-family townhouse project. Supporting materials relative to project are available to buyers.
Greer
Under Construction
144,000
120
15.62
7.3 Acre sight with 900 feet of Lake footage. Architectural Design and Structural Engineering completed. Model unit completed. Main entry and some landscaping completed.
Lake Wylie
Land
17 acres
90
17 acre tract approved for 90+ townhomes. Located twenty minutes from downtown Charlotte. Area has excellent schools, low taxes and $85K per capita income.
Simpsonville
Under Construction
Price Not Disclosed
Financing Available
66,700
52
Phase I and II completed. Phase III now available to developers. Many Tax Credits available.
Tennessee
Chattanooga
Land
21 acres
376
Approved for 376 units, clubhouse, pool, 4800 SF office and 100 garages. Master plan is on file with listing agent. Priced at $6,000 per door.
Memphis
Office Bldg.
95,000
95
20.00

Downtown 10 story brick built in 1925; Parking Available; Several floors have undergone major remodeling, partially leased- retail ground floor and office above. Opportunity for conversion to mixed use. Location Description:
Central Business District, Northeast corner of Third & Court, just North of Autozone Park, just South of Civil Court.

Tullahoma
Industrial Bldg.
82,000
82
4.87
Vacant brick building situated on 1.34 acres with frontage on high traffic streets.
Utah
Cedar City
Land
5 acres
120

Zoned for multi-family development-24 units per acre. The city has indicated that they may allow 36 units per acre. Price, per door, at 24 units/acre =$8,200. Price, per door, at 36 units/acre =$5,500. Old Cedar City Hospital location.
Virginia
Charlottesville
Land
1.03 acre

Prime development parcel located one block from Downtown Pedestrian Mall. Property is zoned Downtown Corridor, one of the most intensive zoning districts in the City. This district promotes high density and mixed-use development. Neighboring properties include the Staples-anchored Vinegar Hill Shopping Center, the Federal District Court House, Lewis & Clark Square Condominiums and the Omni Hotel.
Lynchburg
Warehouse
40,495
40
36.91

Historic 7 story all brick and stone building that would be ideal for loft apartments. Would qualify for Federal and State Historic tax credits and is in the enterprise zone. In the heart of the new Riverfront Park area. The city is constructing a sound stage and a rain garden and a riverside park
Lynchburg
Mill Bldg.
65,000
65
23.07
Historic weaving Mill perfect for loft apartments, but needs rezoning. Interiors in excellent condition. Eligible for Federal and State Tax credit. Situated on 3.5 acres on bus route.
Washington
Land
9.3 acres
192

Shovel ready and ideally located with a projected growth rate of 12.5% over the next 5 years. Rock Creek Village Apartments is approved for 192 units and 67 revenue generating garages. Final engineering is complete. Half of the TIF fees have already been paid and the project is vested under the old storm water regulations and impact fee structure. Huge savings from starting a project from scratch today. Complete back up package is available.
Wisconsin
Milwaukee
Office Bldg.
Price Not Disclosed
233,184
233
Vacant 5-story building includes classrooms, auditorium and gym. Uses hot chilled water system for heating and cooling. Located on the city's North side on the Milwaukee River front.
Warehouse Bldg.
220,000
220
26.36
1892 Brick warehouse built in 1892. The property is currently just 10% occupied with short term leases to allow for redevelopment. There is roughly 10,000 sq. ft. of office space and the remainding 210,000 sq. ft. is mostly large open spaces with only two brick firewalls. The building is fully sprinklered with 4 dry systems and the roof has been unsulated and updated. There are 4 freight elevators.
Milwaukee
Industrial Bldg.
120,000
120
35.00
This historic building in downtown Milwaukee is ripe for conversion from warehouse to office, retail or living space. The six floors total 120,000 sq. ft., one of which is partially below grade (220,000 sq.ft. adjacent to this is also available). It is mostly large open spaces with only one brick firewall in the middle. This wall divides each 20,000 sq. ft. floor into two equal areas. There are arched openings in the wall that connect each side. The building is completely sprinklered. Historic tax credits are available if desired, but a historic restoration is not required. Federal Renewal Community and New Market tax credits are available. This includes a capital gains exclusion for properties held at least 5 years.
Milwaukee
Industrial Bldg.
112,000
112
22.32
112,000 sq. ft., 5 stories plus basement. Concrete construction built 1935
4 docks, 1 drive-in, 2 passenger elevators, 1 freight. .87 acre site. Parking underground and basement at grade. Zoned IM. T-Mobile leases antenna space on the roof through 2011 @ $16,500 per year with 3% increases. Cricket Communication leases antenna space on the roof through 2013 @ $16,800 per