1506 Main St
- 408 planned units on ±20.30 AC, zoned R-3 at the 20 DU/acre maximum
- 22-sheet civil plan set issued for construction 6/27/2025 (Praestare Engineering)
- Sanitary sewer installed and building pads prepared
- Water extension is the remaining off-site item, seller estimate $45,000
- Six-phase plan with utility stub-outs for phased delivery
- Gated, amenitized community plan with pool, dog park, playground and leasing office
- $13,480 per planned unit land basis
- Seller construction budgets and full plan set available to qualified buyers
Property Description
Coldwell Banker Commercial Metro Brokers presents Reserves at Roanoke, a ±20.30-acre multifamily development site at 1506 Main St in Roanoke, Alabama. The site plan calls for 408 units in 34 twelve-unit buildings: 12 one-bedroom buildings (144 units) and 22 two-bedroom buildings (264 units), 672 bedrooms in total. The project is well past the paper stage. A full 22-sheet civil plan set by Praestare Engineering was issued for construction on 6/27/2025. It covers layout, utilities, grading and drainage, erosion control and construction details. Sanitary sewer is installed and building pads are prepared, and the remaining off-site item is extending water to the site (seller estimate $45,000). The plan is drawn to the R-3 maximum of 20 DU/acre with 53.91% open space against a 40% requirement and a 38'-4" building height against a 45' maximum. It is sequenced in six phases with water and sewer stub-outs, so a builder can match deliveries to lease-up. The community is designed as a gated property with private streets, a leasing office, pool, playground, dog park and mail kiosk / storage building. Seller construction budgets for both building types are available to qualified buyers, along with the full civil plan set and CoStar rent comparables. Offered at $5,500,000, or $13,480 per planned unit, which is about 9% of the indicated total development cost.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Land/Development |
| Price: | $5,500,000 |
| No. of Units: | 408 |
| Year Built: | 1968 |
| Lot Size: | 1.26 Acres |
| Opportunity Zone: | No |
| Price per unit: | $13,480 |
| Property Website | Click Here |
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