Prime Hwy 10 Redevelopment Site
Prime 1.7 Acre Corner On Co. Hwy 10 & Spring Lake Rd. Zoned C2 City will allow medium-density.
Marketing description
Prime 1/7-acre corner site on hwy 10 with excellent visibility and high traffic counts. Currently zoned c2 with Limited commercial uses. Comprehensive plan guides the property for medium=density residential (up to 10 Units per acre). City has indicated receptiveness to r-3 rezoning, make this an ideal opportunity for Townhome, multifamily, or senior housing development. Strong nearby housing demand supports the area, With neighboring properties reporting extended waitlists for 2 bed units and rates around $1700/month. Senior housing benefits from reduced parking requirements, allowing for more efficient layout. Hwy 10 Corridor improvements and potential lane/access modifications may impact future access. Existing home is a Teardown and sold as-is. Buyer to verify all zoning, density, market and development requirements.
From hwy 65 & hwy 10, go east on hwy 10 to spring lake road ne, property is on the corner of hwy 10 and spring lake road.
Investment highlights
Zoned C2 with limited commercial uses (auto-related uses restricted due to surrounding properties). Per city, Comprehensive Plan guides site for medium-density residential (up to 10 units/acre). City has indicated receptiveness to R-3 rezoning; higher density would require Comprehensive Plan amendment and approvals. Estimated yield approximately 14–17 units depending on site design. Standard multifamily parking requirement is 2.5 spaces/unit (1 enclosed). Senior housing allows reduced parking (1 space per 2 units), significantly improving development efficiency. Nearby senior housing developments within approximately two blocks report strong demand, including waitlists of approximately 18 months for 2-bedroom units and rental rates around $1,700/month, supporting feasibility for senior housing use. Hwy 10 corridor improvements and potential lane/access modifications may impact future access. Property is being sold for land value; existing home is a teardown and sold as-is. Buyer to verify all zoning, density, market, and development requirements.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
