Land Available For Lease @ 4950 Promenade Blvd

Based on the most recent survey, parcel 6-A-4C would be 4.21 acres, Parcel 6-A-4D would total 8.29 acres and the surrounding access road (Promenade Circle) totals 4.13 acres. While Promenade Circle cannot be developed and is therefore not considered useable acreage, it can be included for determining maximum density under the MUCD zoning. Current market rents in the surrounding area are between $1.20 to $1.91 rent per SF. There is a very small vacancy rate in the area as well (ranging from 3.9% to 20.7% vacancy). Average Rents are going for - Studio $940/month, 1 Bedroom $993/month, 2 bedroom $1,244/month & 3 bedroom $1,625/month.

The surrounding neighborhood contains a mixture of residential (SFR & MF) developments, as well as the immediate commercial properties associated with Promenade Blvd - Walmart, Lowe's, and a Home Depot further east of the site. Other commercial uses in the area include restaurants, office/medical office buildings, warehouses, and service stations. The future outlook for the subject neighborhood remains relatively stable with little forecasted growth in the form of population change and economic growth. This space offers accomodations for: multifamily.