Price: $3,500,000

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A 89-unit development opportunity

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8212 S Western Avenue is located on the Northeast corner of W 83rd Street and S Western Avenue. The subject property boasts roughly 23,434 SF of land zoned C2-1VL-CPIO on a hard corner. 8212 S Western Avenue allows a developer the opportunity to build 58 units by right or 89 units exercising the TOC Tier 1 incentives which includes a 50% density bonus and an FAR increase of 2.75:1, totaling approximately 64,444 SF of buildable SF with only 8 units being designated to extremely low income, for less than $40,000 per buildable unit!

 

8212 S Western Avenue is just blocks away from the well-known intersection of Manchester Avenue and S Western Ave. The submarket is gentrifying rapidly, recognized by the national tenants surrounding the subject property, such as Ralphs, O’Reilly Auto Parts, WSS Shoe Store, Taco Bell, Jiffy Lube, McDonald’s, KFC, Chase Bank, Domino’s Pizza, Smart & Final, and Wells Fargo to name a few.

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Note: Buyer to perform their own due diligence and verify all information.