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STATE HIGHWAY 260
Payson, AZ 85541
Basha's Out parcel-IDEAL for multi-family · Land For Sale
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0.64 AC
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.64 AC |
| Property Subtype | Commercial | Cross Streets | Manzanita |
| Proposed Use | Apartment Units | ||
| Zoning | C2 | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.64 AC |
| Cross Streets | Manzanita |
| Zoning | C2 |
DESCRIPTION
0.64 acre out parcel immediately available. This development pad is located within the Basha's Shopping Center. Currently 27,878 Square feet in size, potential lot line adjustment could expand the buildable footprint to over 30,000 SF. While the site's commercial zoning allows for retail, restaurants or office, the Town of Payson is eager to approve new multi-family or residential condominium construction at this site. With development requirements for landscaping, setbacks, parking and access already satisfied, improvements can be constructed right up to the lot line. Surrounded by major retail including Basha's, The Stage, Big Lots, Verizon, and a brand new Starbuck's, this site enjoys the best 'walk score' in all of Payson- perfect for contemporary multi-family development. 60% of all of Payson's major shopping, restaurants and retail are within half a mile of this site. The central location offers easy access to highways 87 and 260, plus the drive-by exposure along East Highway 260 is excellent. The most recent multi-family product delivery into this extremely tight residential rental market was 12 years ago. With 600 apartment units in the town of Payson and less than .03% (three-tenths of one-percent) vacancy, there is a serious apartment shortage. Demand for apartment rentals in Payson Arizona is higher than anywhere in the valley.
