Description
DEVELOPMENT OPPORTUNITY Prime development opportunity at the intersection of Franklin Street and Wells Street in Westerly, Rhode Island.This strategically located property offers an opportunity for developers, investors and builders to pursue a thoughtfully planned residential, commercial or mixed-use project in an established Westerly corridor.A conceptual site plan has been prepared illustrating a potential development incorporating residential/multifamily buildings, professional/office space, parking, internal circulation and landscaped areas. The concept provides a starting point for evaluating the site's development potential while allowing a future purchaser to explore alternative configurations consistent with applicable zoning and municipal approvals.PROPERTY HIGHLIGHTS Prominent Franklin Street / Wells Street location Conceptual development plan available Potential for residential and/or mixed-use development Professional/office component illustrated in the conceptual plan Internal parking and circulation shown Established neighborhood with a combination of residential and commercial uses Convenient access to downtown Westerly and regional transportation routes Opportunity for a developer to evaluate and refine the existing concept
Details
| MLS # | 73583382 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 23 |
| Listing Provided By | Berkshire Hathaway HomeServices Verani Realty | Richard Garafola |
Features
| Zoning | P15 |
|---|---|
| Acreage | 1.98 |
| Water Front | Yes |
Exterior
| Lot Features | Easements, Curbs & Gutters, Storm Drains, Sidewalks |
|---|
Utilities
| Sewer | Public Sewer |
|---|---|
| Gas | At Street |
| Electric | On-Site |
Taxes
| Tax Annual Amount | 6433 |
|---|---|
| Tax Assessed Value | 786500 |
| Tax Block | 25 |
| Tax Year | 2026 |
| Tax Map Number | 88 |
Location
| Community Features | Shopping, Medical Facility, Laundromat, House of Worship, Public School, Sidewalks |
|---|---|
| Senior Community Yes / No | No |
Area Information
| State | RI |
|---|---|
| County | Washington |
| City | Westerly |
| Zip Code | 02891 |
| Area | Washington |
| Listing VS Median (in 02891) | |
Price: $1,500,000 low | high Med: $721,000 On site: 23 low | high Med: 44 | |
Market Activity 02891
Request a showing
Request a showing
Contact
Learn More About This Property
| State | RI |
|---|---|
| County | Washington |
| City | Westerly |
| Zip Code | 02891 |
| Area | Washington |
| Listing VS Median (in 02891) | |
Price: $1,500,000 low | high Med: $721,000 On site: 23 low | high Med: 44 | |