911 Port Street

Description

This is the sale of a land development site. The site comprises one parcel of beautiful waterfront land, the first available redevelopment property on Easton Point. It is divided into two zoning areas: approximately 32,190 SF with a "Water's Edge" designation and approximately 22,600 SF designated Port Street (which is its road frontage). We believe it is accurate to say that at an estimated buildout square footage of 45,500 SF, its total development density/capacity is far greater than any other waterfront property located on the Eastern Shore. The Town of Easton is anxious to kick start the redevelopment of Easton Point, and has the motivation and the tools built into the zoning written specifically for this sub-area plan to reward the first developer.The shop / warehouse referenced herein provides revenue for a while, and might then be a construction office or materials storage location until its ultimate demolition.Because there are so many unknowns stemming from this being the first of its kind under new zoning requirements, the seller will be very willing to work with a qualified buyer to align the land value with the actual economics of an approvable development plan. That said, the potential is remarkable and the asking price reflects the unusually high quality of this offering.- 255 linear feet of bulkheaded, board-walked waterfront with 12' depth- Only Easton Point property with Town-required boardwalk already in place- Annexation in 2018 provides access to public sewer and water- First project has plenty of EDU's, can accommodate any development plan- First project to develop under the new MXW zoning created especially for Easton Point- By way of example, it appears one could build a brewery with outdoor seating on the waterfront, residential above, a restaurant on the street front, with townhouse residential on floors two and three, and connect the two with parking, courtyard and landscaping