51 Franklin Street

Vacant Land for Sale
Catylist Listing ID: 30408885
Gross Land Area: 9.13 Acres
Sale Price: $3,250,000
Unit Price: $355,969 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/9/2019

Overview / Comments

Property consists of 51 Franklin St., 107, 109 and 111 Wells Street (Plat 87, Lot 146 & 147 and Plat 88 Lot 24 & 25)

9.13 acre site corner of Franklin Street and Wells Street with a master plan approval from the Town of Westerly 400 feet of frontage on Franklin and 107 frontage on Wells with a P-15 Zone on Franklin St. and HDR-15 Zone off of Wells St. combines a broad spectrum of potential build outs of (3) three 6,000 sf professional office buildings and connecting to 32 condominium units. Assisted living and/ or living concept of “age friendly” development are within this zone. A comprehensive permit could allow for greater density in exchange for (8) eight income affordable homes. Available utilities include city water, sewer and gas. No Flood Hazard Zone exists. Property is located on the westerly side of Franklin St and the southerly side of Wells Street.

SITE DESCRIPTION:
51 Franklin St. and 107, 109 and 111 Wells Street. Assessors Plat 87 Lots 146 & 147, Plat 88, Lots 24 & 25. Zoning districts of HDR-6, HDR-15, P-15.

TRAFFIC COUNT: 22,700 daily

Great highway locations, Route 78 to Interstate 95 (I95), Airport Road to RI beaches and Westerly Airport 1.3 miles away (4 minutes), Route 2 to Casinos, Route 1 to Narragansett and Newport areas (30 minutes) and Westerly Amtrak 1.8 miles away (6 minutes).

Walk to grocery, shopping, medical, hospital and professional business easily. **

Additional Details

Nearest MSA: Providence-Warwick
County: Washington
Tax ID/APN: WY 88-24
Zoning: R6, R15 P15 MIXED
Property Located Between: Businesses, Professional, Medical and Hospital
Property Visibility: Excellent
Largest Nearby Street: FRANKLIN STREET OR WELLS STREET
Feet of Frontage: 507
Traffic/Vehicle Count: 22,700
Highway Access: Great highway locations, Route 78 to Interstate 95 (I95), Airport Road to RI beaches and Westerly Airport 1.3 miles away (4 minutes), Route 2 to Casinos, Route 1 to Narragansett and Newport areas (30 minutes) and Westerly Amtrak 1.8 miles away (6 minutes).
Rail Access: Yes
Airports: Westerly Airport 1.3 miles away (4 minutes)
Site Description: 51 Franklin St. and 107, 109 and 111 Wells Street. Assessors Plat 87 Lots 146 & 147, Plat 88, Lots 24 & 25. Zoning districts of HDR-6, HDR-15, P-15.
Area Description: Great highway locations, Route 78 to Interstate 95 (I95), Airport Road to RI beaches and Westerly Airport 1.3 miles away (4 minutes), Route 2 to Casinos, Route 1 to Narragansett and Newport areas (30 minutes) and Westerly Amtrak 1.8 miles away (6 minutes). Walk to grocery, shopping, medical, hospital and professional business easily.
Lot Frontage: 507
Zoning Description: R6, R15 P15 MIXED
Topography: Level
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,972 28,801 37,241
Median Age: 46.26 43 44.32
Households: 2,252 12,268 15,896

Contact

Photograph of Listing Agent

Lynn M Azzinaro

RE/MAX South County ECCPN Member
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