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0 Newmark ave 8 Acres of Residential Land Offered at $700,000 in North Bend, OR 97459

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INVESTMENT HIGHLIGHTS

MULTI-UNIT DEVELOPMENT
Located in the Heart of Coos Bay/North Bend

OPPORTUNITY ZONE

EXECUTIVE SUMMARY

Located in an Oregon OPPORTUNITY ZONE (ask for the information on hand) this 8-acre parcel in North Bend City Limits offers prime potential for residential development. Positioned on the 2nd highest trafficked road off Highway 101, centrally located between Coos Bay and North Bend, near the local Community College, the VA Center, the Coast Guard Station, the Airport, and centrally located shopping. The City of North Bend owns the lot to the East and may be willing to surpluss the lot to a developer that will incorporate more housing on that lot. Currently zoned as R-7, the seller is open to a long escrow to accommodate a conditional use permit application with the City for a PUD Planned Unit Development or possible zoning change to higher density residential. Zoning information, survey maps, opportunity zone info, and harvestability documents are available upon request. See photos and fly-through video for an aerial and interior view inside the lot lines. Merchantable timber on the property was valued at $42,000 by Messerle and Sons several years ago. Investing in an Opportunity Zone can offer tax incentives, capital gains deferral or reductions, etc - ask for the documents available for more information. This investment in an opportunity zone would also contribute to improving the local economy and community, in need of more housing. Our local SCDC South Coast Development Center is available for more Development opportunities, grants, programs, and resources.

Opportunity Zones & Tax Implications - Legislative

Stuntzner Engineering Maps

Previous Potential Development Example

Prev Harvestability Docs

Opp flyer

PROPERTY FACTS

Price	$700,000	Property Subtype	Residential
Sale Type	Investment	Proposed Use	Multifamily
No. Lots	1	Total Lot Size	8.00 AC
Property Type	Land
Zoning	R-7 - R-7 - Planned Unit Development with a conditional use permit, also in Opportunity Zone

Price	$700,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Residential
Proposed Use	Multifamily
Total Lot Size	8.00 AC
Zoning	R-7 - R-7 - Planned Unit Development with a conditional use permit, also in Opportunity Zone

1 LOT AVAILABLE

Lot

Price	$700,000	Lot Size	8.00 AC
Price Per AC	$87,500.00

Price	$700,000
Price Per AC	$87,500.00
Lot Size	8.00 AC

Of the 8.0 Acres, the 4.0 acres of higher ground have had some clearing. Merchantable timber, native soil, property corners are marked. South side of property is a main street road frontage.

DESCRIPTION

Discover the real potential of this 8-acre parcel located within North Bend City Limits. Located right in the center of Coos Bay and North Bend, on the 2nd highest trafficked road off Highway 101. Currently zoned as R-7, this property could offer an exciting opportunity for multi-residential development with re-zoning, in a very limited-inventory area in need of more housing. Seller is open to a long-escrow to accommodate a contingency for rezoning application to be filed. Curious about the finer details? Ask for the zoning information and planning documents. The sellers have addressed many questions about this property over time, and now it's available for sale with more critical details in hand. Photos as well as a fly-through video capture a close look inside the lot lines. Schedule an appointment for a walk through to explore this land in depth. The listing includes approximate lot line boundaries via aerial photos, marked corner survey points, and multiple survey documents from Stuntzner engineering. If a buyer chooses to pursue rezoning to maximize on housing capacity, the zoning information and application documents are available. Builders and investors, this is your chance to explore the endless possibilities this property holds. Additionally, there is merchantable timber on the property, adding another layer of potential revenue. Timber was valued by Messerle and Sons at $42,000 a few years ago. There may be an opportunity to take advantage of some tax incentives due to the need for more housing.