Amazing piece of property for multi-family development! This property was previously a horse pasture and was land-locked up until earlier this year when the city put in a nice connecting road. With the recent bond vote passing in September of 2021, Patton St./Hazelton Roads will now be expanded to 24ft wide and become the new East-West corridor for the city of Pea Ridge. This property sits directly on this new street and will become even more valuable as the city expands this road and traffic increases. This property will include engineering and architectural plans and is ready for any investor/group to take the reigns. - 4.32 Acres in the center of Pea Ridge (right across from City Hall and Schools). .8 of a mile from the Walmart Neighborhood Market and Pea Ridge Highschool. - Recently approved and rezoned to R2-Multifamily in September 2021. - Preliminary Engineering and Architectural Work has been done (see renderings) for 7 Quadplexes and will be included in the purchase of this property. - Our Quadplex plans include 3 bedroom, 2 bath, 1,040 sq ft. A total of 28 units, 29,120 sq ft. - Not parceled out yet, but we have been planning to parcel into 7 lots (ideal for a smart investor in case of an emergency sale of individual buildings). - There is a small drainage pipe to the west side of the property. Our engineering team has already spoken to the city streets and water department about water runoff and has a great plan with a wrap-around guttering system to funnel water around the outside of the property in our 25ft setback zone. Because of this water runoff, you will be required to put in a small detention pond in the NE corner. This is a very reasonable request and will add nice green space to your property. - Property is very level with a slight slope to the north (favorable for water flow) and will require minimal dirt work. - Water, sewer, and utilities are at the road or within very close distance. *** Local comps of properties sold in the last year with a similar (4-5 acres) put the average price per acre at $91,000. We're asking for $105,000 per acre now that the land is rezoned and including our engineering and architectural plans. If you plan on developing this land, you'll already be ahead of the game and ready to break ground quickly. Please reach out for any questions!
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
