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.
Land acquisition price for low/mid density residential development
-
- Parking Garage
- Posts: 20
- Joined: Fri Dec 30, 2005 10:49 am
- Thaine
- Western Auto Lofts
- Posts: 607
- Joined: Thu Oct 27, 2005 12:46 pm
Re: Land acquisition price for low/mid density residential development
Tiger, you'll find this ironic because I did too at first but there aren't any developers on here.
-
- Parking Garage
- Posts: 20
- Joined: Fri Dec 30, 2005 10:49 am
Re: Land acquisition price for low/mid density residential development
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.
-
- City Center Square
- Posts: 12666
- Joined: Thu Mar 11, 2004 10:31 pm
Re: Land acquisition price for low/mid density residential development
The easiest thing for you to do is to contact some of the developers in the areas you are looking at.
I may be right. I may be wrong. But there is a lot of gray area in-between.
-
- New York Life
- Posts: 398
- Joined: Sun Nov 20, 2005 10:29 pm
Re: Land acquisition price for low/mid density residential development
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.LS_Tiger wrote: 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.Â
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.
Â
- schugg
- Hotel President
- Posts: 3279
- Joined: Tue Feb 01, 2005 3:02 am
- Location: kcmo
- Contact:
-
- City Center Square
- Posts: 12666
- Joined: Thu Mar 11, 2004 10:31 pm
Re: Land acquisition price for low/mid density residential development
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.
I may be right. I may be wrong. But there is a lot of gray area in-between.
-
- Parking Garage
- Posts: 4
- Joined: Thu Nov 03, 2005 8:12 am
Re: Land acquisition price for low/mid density residential development
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