Property Description

8.8 Acres at the Lebanon/Hanover Gateway with the 100% location, extensive frontage and visibility on Rt. 120 and exit 18 I-89. Proposed General Commercial zone (GC1) allows most uses by right including mixed commercial/residential estimated summer. 30% building coverage, minimal setbacks, 55 foot building height. 3 Miles to Dartmouth Medical Center. Among highest income and housing in NH. 40,000 VPD I-89, 24,000 Rt. 120. Owner has invested $1.6M in site work and engineering. Pad ready and level. There is 2000 linear feet of onsite interior of paved roads, water/sewer lines and electric/cable lines. The estimated cost to install these is over $700,000. Lebanon has adequate sewer and water capacity for the anticipated build out. 8-12 gravity sewer main lines run through the property. 12 water main. Interior road water lines are 6. These substantial site improvements greatly lower the effective cost per acre. Residential density by planning board review. Under PUD density is 13/acre. 1.5 parking spaces per unit. Potential density 380-400 units. commercial 115,000 sf, office 210,000- 325,000 Dartmouth's Bio and Medical startups are creating ongoing housing demand and high paying jobs with an underserved housing stock. Study indicates 4000 additional units are needs in market area in next 10 years. In 2008 Forbes named Lebanon least vulnerable mid-sized city to recession in the nation. Lebanon's only business park, Centerra is built out.

Property Features