Hello fellow BPers and more specifically Atlanta Market Developers.
Lately I've been getting contacted by property owners wanting to sell raw land. I've been having some trouble analyzing the properties and was wondering if you could help fill in some blanks.
What's the average cost per sq. ft.to build in a B- to A level neighborhood in the Stone Mountain area of Atlanta?
Its an established neighborhood where Most of the homes in the Neighborhood were built late 70s early 80s; 3-4 side brick; @ 3k sq.ft.
Comps are steady at $155k - $169k.
What demo cost is usually involved when clearing land with trees? Land with partial structure?
Are there any things in particular (outside of the usual CMA) that I should be looking out for when analyzing these properties?
Thanks in advance for your input!
Also if there are any of you that are interested in raw land, feel free to connect.
Do you mean raw land or infill lots? There's a difference in regards to ability to build and cost.
Raw land has never been built on in the past. An infill lot is a lot, that used to have a structure, that may have burnt or been demolished for other reasons. If it's been some years ago, there could very well be grown trees on it now. Infill lots already have the infrastructure for water and power and raw land does not.
@Michaela G. , Thanks for responding. In this instance it is raw land but in the middle of a neighborhood, with homes on either side (if that makes a differenc). However, I do sometimes come across infill lots as well.
Since you had mentioned the houses, that's why I thought that it might be an infill lot. But as long as you're aware of the details, then it's fine.
Have you checked with the city, whether there are any sewer lines running underneath, that might make it impossible to build? I've had that a few times with vacant land in the middle of neighborhoods.
@Michaela G. thanks, I have not done so... but most definitely will.
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