Looking for advice on what to do with a 2.5 acre lot in NJ.

Real Estate Agent · Marlboro, NJ · Member since 2015 · 15 posts · 4 votes

Hi everyone,

I have a 2.5 acre lot in Sayreville NJ that I'm looking to do develop or sell. I need some feedback on how to go about it since the lot would require some property lines beginning adjusted from to lot next to it which I also own. I'd like to meet with some investors/builders to brainstorm some ideas.

Thank you

Tom

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Colleen F.Pro Member

Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes

10y

Check flood plain status especially with the FEMA changes. I know only some areas of Sayreville are impacted but it could affect where you can build. Also wetlands assessment to see where it is buildable. If you know all that and know it is buildable then you probably need to check with town if you need to subdivide your lots. see what the rules are. They recently lost a couple neighborhoods in Sayreville (also Woodbridge) to blue acres so maybe the town wants to replace that tax base.

Any small developments under construction in the area? See who is doing them and maybe you can ask under what conditions they would be interested in your property. Not suggesting you necessarily sell to them but it may give you an idea of what would make your property attractive.

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y
First thing to check is if the local jurisdiction has any impact fees or taxes. That could essentially make or brake any ideas. My local County had a 60k impact fee for building a new home, which essentially stopped my ideas of building on vacant land.
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Timothy Smith
Investor · Kennewick, WA · Member since 2013 · 18 posts · 4 votes
10y
Next up would be zoning and whether your individuals or groups in your locale will throw a fit regarding your desired development plans. (See 1K Friends of Oregon for an example of a group that can stymie even a town's development plan).
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Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
10y
Check flood plain status especially with the FEMA changes. I know only some areas of Sayreville are impacted but it could affect where you can build. Also wetlands assessment to see where it is buildable. If you know all that and know it is buildable then you probably need to check with town if you need to subdivide your lots. see what the rules are. They recently lost a couple neighborhoods in Sayreville (also Woodbridge) to blue acres so maybe the town wants to replace that tax base.
Any small developments under construction in the area? See who is doing them and maybe you can ask under what conditions they would be interested in your property. Not suggesting you necessarily sell to them but it may give you an idea of what would make your property attractive.
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Judy Parker
Rental Property Investor · Closter, NJ · Member since 2015 · 884 posts · 722 votes
9y
@Tom T. What did you decide to do with your Sayreville property?
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