Description
1 Wootten Ct is a rare alley lot located in the RF-1 zoning district, offering flexible use for parking income or future development. The site has potential for up to 18 parking spaces, with estimated value of approximately $30,000 per space if sold individually, or it can be leased for ongoing monthly parking income.Because of its alley access and layout, the lot also offers a unique opportunity to maximize underutilized space by providing parking to surrounding properties, which supports strong local demand for off-street parking.If developed and leased as parking, the site has the potential to generate approximately $300–$500 per space per month, creating a strong income-producing asset.Zoned RF-1, the property also allows for potential two-unit condominium development, subject to zoning compliance and approvals, offering multiple exit strategies for an investor.Buyer to perform their own due diligence, including zoning, permitted uses, development feasibility, engineering, parking capacity, and all required governmental approvals. Property is sold as-is with no representations or warranties regarding development potential or parking capacity.
Description
1 Wootten Ct is a rare alley lot located in the RF-1 zoning district, offering flexible use for parking income or future development. The site has potential for up to 18 parking spaces, with estimated value of approximately $30,000 per space if sold individually, or it can be leased for ongoing monthly parking income.Because of its alley access and layout, the lot also offers a unique opportunity to maximize underutilized space by providing parking to surrounding properties, which supports strong local demand for off-street parking.If developed and leased as parking, the site has the potential to generate approximately $300–$500 per space per month, creating a strong income-producing asset.Zoned RF-1, the property also allows for potential two-unit condominium development, subject to zoning compliance and approvals, offering multiple exit strategies for an investor.Buyer to perform their own due diligence, including zoning, permitted uses, development feasibility, engineering, parking capacity, and all required governmental approvals. Property is sold as-is with no representations or warranties regarding development potential or parking capacity.
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