This prime hard corner property presents a rare opportunity for developers and investors alike. The offering includes a two-story, 15,000 square foot office building on a generous 15,769 square foot lot (0.36 acres) at the intersection of Peterson and a neighboring street, as well as the adjacent 50 x 100 foot property at 3540 W. Peterson. Combined, these two properties form an expansive 207.6 x 100 foot lot, ideal for a significant new development. Currently owned by a non-profit entity with plans to redevelop, the existing office building is occupied by multiple tenants but requires extensive work. The B2-1 zoning, designated as Neighborhood Mixed-Use District, allows for retail storefronts and apartments on the ground floor, encouraging development in commercial corridors with low demand for retail. The FAR (Floor Area Ratio) of 1.2 further supports mixed-use redevelopment potential. This offering is perfect for those looking to create a large-scale project in a desirable area. The seller is seeking a buyer for both buildings together, providing a substantial footprint for a transformative new development. Don't miss this unique opportunity to shape the future of this key location.
Based on information submitted to the MLS GRID as of 09/29/2024 01:22 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.
