Listed by Norris & Stevens
$2,250,000
Franklin Reserve Development Land
Details
Property Type Land
Sub Type Residential
Square Footage 204,732
Price per SqFt $8
Acreage 6.460
Zoning R-5 (Low- to Moderate-Density Residential)
Land | 6.46 acres
Marketing description
- The site offers potential for up to approximately 125 townhomes or 100+ multifamily units, subject to buyer's design, zoning interpretation, and municipal approvals.
- Zoning allows for a range of housing types, making the property well-suited for developers seeking to implement their own site plan and product mix rather than inherit pre-set designs.
- Located near Highway 99E with convenient access to I-5, providing efficient north-south connectivity to Salem (+/- 25 minutes), Corvallis (+/- 15 minutes), Eugene (+/- 40 minutes), and the broader Willamette Valley.
- Predominantly flat topography helps minimize grading and site-work costs, improving overall project feasibility and design efficiency.
- Water, sewer, and power are available nearby, supporting streamlined infrastructure planning and reducing upfront development hurdles.
- Albany continues to see population growth and sustained housing demand driven by regional employment, affordability relative to larger metros, and its central Willamette Valley location.
- Positioned within an established area near employment centers, schools, and services, enhancing future resident appeal and long-term rental or for-sale performance.
- One of the few remaining vacant residentially zoned parcels of scale in this submarket, offering developers a chance to execute a custom project in a supply-constrained environment.
Investment highlights
- Total land area: +/- 6.46 AC ( +/- 281,398 sf)
- Buildable area: +/- 4.70 AC ( +/- 204,732 sf)
- +/- 3.22 AC and +/- 3.24 AC parcels
- Zoned R-5 (low- to moderate-density residential)
- Close to I-5, Heritage Mall, and Swan Lakes
- Near major roads and transportation routes
- Strong local housing demand driven by population growth
- Located in the Willamette Valley with steady regional expansion
- Potential for up to 125 townhomes or 100+ multifamily units
Listing Contacts
Listed by Norris & Stevens
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