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253 Arsenal St - 218 Stone Street - Former Mercy Hospital Site 9.8 Acres of Commercial Land Offered at $3,500,000 in Watertown, NY 13601
INVESTMENT HIGHLIGHTS
- Average House Hold Income $75,622
- Located at the intersection of Arsenal and South Massey Streets; the gateway to the City center
- Located in close proximity to Fort Drum US Military Installation
- Average Area Population 375,36
- Shovel Ready
- Main parcel along Arsenal is 5.7 Acres, back parcels off Stone Street are an additional 4 Acres
PROPERTY FACTS
| Price | $3,500,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Medical |
| No. Lots | 1 | Total Lot Size | 9.80 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Price | $3,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Medical |
| Total Lot Size | 9.80 AC |
| Opportunity Zone |
Yes |
1 LOT AVAILABLE
Lot
| Price | $3,500,000 | Lot Size | 9.80 AC |
| Price Per AC | $357,142.86 |
| Price | $3,500,000 |
| Price Per AC | $357,142.86 |
| Lot Size | 9.80 AC |
Shovel Ready Site consisting of 9 lots in the city of Watertown, NY totaling 9.8 acres Parcels A and A1 are zoned Commercial District CD Parcels B, C, D, E, F, F1, and F2 are zoned Residential “C” District RC
DESCRIPTION
Mercy Heights is an 9.8 acre shovel ready site, located at the intersection of Arsenal and South Massey Streets; the gateway to the City center. COR purchased the Mercy Hospital property in 2013. The former Mercy Hospital occupied 9 multi-story buildings consisting of approximately 377,000 square feet and 7-acres. The original buildings were constructed at various times between 1938 and 1983. Through collaborative efforts with State and local government COR has completed significant environmental remediation and raised all of the existing structures preparing the site for new development. This approx. 5.7 Acre block has been approved for the first phase of development to include 34,000 SF of commercial space in (2) two-story buildings fronting Arsenal Street, 108 integrated market rate and affordable apartments along South Massey and Stone Streets and a 5,500 SF community building on Sherman Street for use by the residents and the existing St. Patrick’s Parish. On-site parking is located internal to the block to support all planned uses including the Church. Directly adjacent to the site, across Stone Street, is an additional 4 Acres that can expand the development with up to 22 for-sale single family townhouses, 28 patio homes and community space.
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253 Arsenal St - 218 Stone Street - Former Mercy Hospital Site
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