43-225 acres mixed use. 15 min to Dartmouth Med. and College
last of large dev sites in Upper Valley
Marketing description
43 acres. Flexible mixed use zoning for most uses. Utilities are at site. Residential allows @13 units/acre. ($6k per dwelling unit at full density). SF lot size min. is 15,000/sf. ADU allowed (no residency requirement) Residential concept for 174 units of MF/townhomes/SF lots. Southerly gentle grades, confined wetland area, views of area hills, 15 minutes to Dartmouth College or Medical Center. Several access points to Rt. 4. Recently adopted TIF plan for on/off site improvements potentially with supportive town. Quick town approvals. Adjacent Lebanon has limited ability to offer single family development. Hanover is built out. Comparable house sites within 5 minutes of subject range from $130- $400k. MF comps at 1/3rd of Lebanon. Adjacent Hanover among NH's highest incomes, home prices.
Retail, Industrial uses by right. Town planners desire needed retail services in this underserved town. Only know feasible site in market for retail. Will subdivide. Recently funded TIF district. Possible on site funding. Adequate capacity for water/sewer. Per Lebanon planning staff report there is a backlog of demand for additional R&D and BioTech regional growing companies (Dartmouth spin offs). There are few Commercial sites in Lebanon and start at $250,000/acre. This would be the largest and possibly only potential commercial site within more than a hour away of this size.
Path of growth. Enfield offers 4 season recreational amenities unmatched in the Upper Valley: World class Montcalm Golf Course, Lake Mascoma, 1000 acre open space, Whaleback Ski Hill. Within 30 minute drive is Sunapee Lake, Killington. 15 minutes to Dartmouth Campus, Medical Center and downtown Hanover.
Due to limiting zoning, infrastructure, and hilly terrain there essentially no other options for growth outside of core area of Upper Valley. Only site within 20+ miles that is feasible for detached housing project or neighborhood retail due to lack of proper zoning and municipal water/sewer
ADD ON. Adjacent 201+/- acres in Canaan which has NO ZONING. Use approved by site plan. Priced at just $10k per acre. Average soils, terrain. Some discussion with Enfield for sewer extension. Access option via ROW with 43 acre parcel onto Rt. 4.
House lots in adj. town of Lebanon comp at $200+k
Investment highlights
Lebanon NH is 5 miles. No appropriate zoning or sites nearer Lebanon.
Improved commercial sites are $250k + vs subject at $45,000 ac.
Multi family prices unimproved no approvals are $20 if you can find either. vs $3500 per du.
Back land has no zoning priced at $5k/ac. appprox. 75% useable.
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