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$ 5,500,000
Est. payment /mo
Active
1506 Main ST Roanoke, AL 36274
20.3 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 10858274
HOA Y/N No
Tax Year 2026
Lot Size 20.300 Acres
Acres 20.3
Lot Dimensions 20.3
Property Sub-Type Unimproved Land
Source Georgia MLS 2
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.
Location
State AL
County Randolph
Rooms
Bedroom Description No
Interior
Fireplace No
Exterior
Community Features None
Utilities Available Other
View Y/N No
Private Pool No
Building
Lot Description Other
Faces GPS
Sewer Other
Water Other
New Construction No
Schools
Elementary Schools Wadley
Middle Schools Randolph
High Schools Randolph
Others
Tax ID 561608274001011.000
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
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