Development Opportunity – FOR SALE

802 Gravel Pike, Palm, PA

PROPERTY HIGHLIGHTS:

• Approved But Not Improved Development Project: This prime property offers an approved development project ready for implementation.
• Residential Units: Approval for the construction of 20 residential units provides a lucrative opportunity in the housing market.
• Wholesale Business Space: Included in the project is 7,500± SF of wholesale business space, catering to commercial ventures.
• Sewer & Water Authority Commitment: Secured commitment for 22 Equivalent Dwelling Units (EDUs) from the Sewer & Water Authority, expanding the potential residential capacity.
• Historic Tax Credits: Part 1 approval for Historic Tax Credits, estimated at approximately $950,000, enhances the project’s financial viability.
• Zoning Ordinance Change: The project benefits from a zoning ordinance change allowing multi-family conversion, adding versatility to its usage.
• Parking Design & Approval: Parking solutions are in place, meeting code requirements without the need for variances.
• Additional Lot Purchase: Included in the project is the purchase of a section of the lot next door, providing a full driveway around the building with extra parking space.
• Parking Agreement: A parking agreement with the adjacent restaurant ensures ample parking availability.
• Land Development Approvals: The project has secured necessary approvals from Penn Dot, applicable zoning authorities, and a Zoning Hearing Board decision on all requested variances.
• Potential for Additional Units: Possibility of additional residential units with variance for less than two parking spots per unit.
• Central Location: Conveniently situated with close proximity to I-476 and Routes 100 & 663, offering easy access to both Lehigh Valley and Delaware Valley.

Don’t miss this rare opportunity to acquire an approved development project with a strategic location and versatile potential. Contact us for more details and to schedule a viewing.