Land Comps for Platted But Unimproved Sites
by THK

October 2004

· 3836 Manhattan Avenue, a 10.4-acre parcel zoned for 30 townhome lots and an existing 8-plex.  The property is listed for sale at $1,300,000.  This translates into $125,000 per acre, $2.87 per square foot, and $43,333 per unit.  The price includes sufficient raw water to develop the property. 

· Fossil Boulevard and Conejoes Road, a fully entitled project for 92 condos and 49 townhomes.  The price is $1,762,500 or $12,500 per unit.  The site is approximately 10-acres.  This translates into a $4.05 per square foot price. 

· North Lincoln Avenue is a 14-acre parcel.  The asking price is $1,616,000 or $115,428 per acre, or $2.64 per square foot.  This property is adjacent to the new Wal-Mart Supercenter. 

· 6813 S. College Avenue is a 4-acre parcel.  Planned uses are for residential and commercial.  The asking price is $535,000 or $133,750 per acre.  This translates into $3.07 per square foot. 

· On College Avenue, at the southern edge of Fort Collins, is a 38-acre multi-family parcel offered for $3,300,000.  The property is zoned for a minimum of 12 units per acre.  The asking price is $115,465 per are or $2.65 per square foot.