The value is potential development. However, the new buyer can be remolding the existing building. 1st level of prior use was a coin-operated laundromat. The upper 2 levels are 2 apartments.
FAR. The total permitted Floor Area Ratio (“FAR”) is 6.0, up to 2.0 of which can be used for permitted non-residential uses.
The total land area of the Property is 1,040 square feet; accordingly, the total permitted Gross Floor Area (“GFA”) is 6,240 square feet—up to 2,080 square feet which may be dedicated to non-residential uses. If you are subject to IZ, or if you choose to opt-in to the IZ requirements, you are permitted to have a FAR of 7.2, for a total GFA of 7,488 square feet.
Listing information provided courtesy of the Bright MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 2nd October, 2023 8:16 PM (UTC)