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0 Fernwood -1 - Fernwood Village 7.08 Acres of Commercial Land Offered at $4,171,648 CAD in Fernley, NV 89408
INVESTMENT HIGHLIGHTS
- Prime 52-unit fully entitled townhome development opportunity located in high-growth market. Potential build to rent community, or for sale product.
- Individually parceled units providing flexible exit strategies for developers and investors.
- Close to major employment centers, including Tahoe Reno Industrial Center and Victory Logistics Center.
- Located in an Opportunity Zone with major tax advantages, within a market that is rapidly expanding due to its affordability compared to nearby metros
- Conveniently located with access to major transportation corridors including Interstate 80, US Highway 50, and US Highway 95 Alt.
- Microsoft recently purchased 300 acres in the Victory Logistics District for their massive project boosting employment and development.
EXECUTIVE SUMMARY
PROPERTY FACTS
| Price | $4,171,648 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 7.08 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | MDR14 - Commercial land | ||
| Price | $4,171,648 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 7.08 AC |
| Opportunity Zone |
Yes |
| Zoning | MDR14 - Commercial land |
1 LOT AVAILABLE
Lot
| Price | $4,171,648 CAD | Lot Size | 7.08 AC |
| Price Per AC | $589,215.83 CAD |
| Price | $4,171,648 CAD |
| Price Per AC | $589,215.83 CAD |
| Lot Size | 7.08 AC |
7.08 AC vacant commercial land for sale with proposed use for apartment units development.
DESCRIPTION
Fernwood Village is a ±7.08-acre proposed townhome/build-to-rent development site located in the City of Fernley, Nevada. Seller financing possible. The site is entitled for a 52-unit townhome development with three designated common areas. Each duplex lot is split with separate APN’s and utilities, providing flexible exit strategies for investors including individual sales and/or built to rent community. Entitlements were finalized in 2022. Final map has been submitted, but not yet recorded, and will be subject to Buyer approval. The property is adjacent to Sherwood Village, a proposed 316-unit apartment community, which is being developed by the Seller. The subject site is surrounded by existing medium-density sub-division developments, i.e. Eagle Nest Subdivision to the north, Sandia Manor Subdivision to the east, and Fernwood Estates Subdivision III to the south. The property is situated less than a mile from Interstate 80 and near major retailers like Raley’s, Wal-Mart, and Lowe’s, are surrounded by residential developments and close to significant employment centers, including the Tahoe Reno Industrial Center and the new Victory Logistics Center. Nestled in the heart of Lyon County, Nevada, the City of Fernley is a vibrant and rapidly growing community within the Reno–Sparks metropolitan area. Poised to become the distribution hub of the state, Fernley is on a trajectory of significant growth, with freight volumes expected to surge over the next three decades.
PROPERTY TAXES
| Parcel Number | 020-516-06 | Improvements Assessment | $0 CAD |
| Land Assessment | $44,559 CAD | Total Assessment | $44,559 CAD |
PROPERTY TAXES
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0 Fernwood -1 - Fernwood Village
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