Land acquisition price for low/mid density residential development

[LS_Tiger]

If this question is out of place, pardon me....

I'm looking to see if any developers or others can tell me what the highest price you could pay per acre for a piece of land in a new growth part of the area (e.g., Lee's Summit, Northland, JoCo) and still make at least some profit for a low/mid density residential development.  Assume you can build mid to mid-high end homes, with maybe a small amount of commercial (or none, either way), and probably assume a parcel that isn't too small, at least 20 acres or more. 

Of course, things like utilities, the actual density of the development, terrain, etc., make a big difference, but I'm really just shooting for some rules of thumb here. I have heard you can expect to pay 30k an acre and over if it is a sought after area, and this assumption is for land that is not way far out beyond the current development fringe.

 

[Thaine]

Tiger, you'll find this ironic because I did too at first but there aren't any developers on here.

[LS_Tiger]

No biggie, I'm not looking to be a developer, but know of someone looking to buy land with hopes of reselling it in the future. 

[aknowledgeableperson]

The easiest thing for you to do is to contact some of the developers in the areas you are looking at. 

[barkerr]

If this question is out of place, pardon me....

I'm looking to see if any developers or others can tell me what the highest price you could pay per acre for a piece of land in a new growth part of the area (e.g., Lee's Summit, Northland, JoCo) and still make at least some profit for a low/mid density residential development.  Assume you can build mid to mid-high end homes, with maybe a small amount of commercial (or none, either way), and probably assume a parcel that isn't too small, at least 20 acres or more. 

Of course, things like utilities, the actual density of the development, terrain, etc., make a big difference, but I'm really just shooting for some rules of thumb here. I have heard you can expect to pay 30k an acre and over if it is a sought after area, and this assumption is for land that is not way far out beyond the current development fringe.

 

I'm a little over my head here, but there should be a database where you can find how much lots have been selling for in the area. There is a city department that has this info; I just can't remember the name of it right now.

[schugg]

.

[aknowledgeableperson]

It is not a city department but in Jackson County, for Jackson County.  Real property sales have to be reproted to the county with the sales price.

[ibron]

Anything sewered out Johnson county is considered at bargain at  $ 30,000.00 fro rsingle family ground with some of the nicer inield stuff up in the mid 40's an acre  and apartment ground prices start at 1.75 to 2.00 a foot