Development Opportunity on Fairmount Ave.

On Fairmount Avenue, we recently came upon an interesting development opportunity. Next door to Stone's Beverage Center sits a vacant lot and a one-story garage that you may have never noticed. Because when you go to Stone's, you're probably singularly focused. These properties both run all the way back to Olive Street. Dimensionally, they're a combined 47'x100', which certainly makes for an interesting footprint for a new development.

Building and lot for sale

1713-15 Fairmount Ave. has been in the same family since the 1970s. They bought the lot next door, we think, in the late 1980s. Now they're looking to unload both, and when the properties are eventually bought they will surely be replaced with something better. The building next door could provide a template.

Newer building next door

This mixed-use property goes all the way back to Olive Street, and includes first floor commercial space with apartments above. We ran some numbers, and we're not sure that a developer could get away with a new construction building here without going up to four stories, but maybe someone will step forward with a more creative plan. Alternately, single family homes could work here, with three homes on Fairmount and three on Olive Street. But that doesn't sound nearly as exciting, does it? We understand the owners are looking for something in the $800K range for the properties. And we wouldn't be surprised if they get it. If you wanna make an offer, there's a phone number in the photo above.