Exceptional development opportunity on a 12,319 SF parcel just outside downtown Stoneham. Located within the Business zoning district; ownership, working with its architectural team, has prepared two preliminary conceptual redevelopment studies illustrating the property's multifamily and townhouse potential. Concept 1 envisions an 18-unit apartment or condominium building with 19 covered parking spaces. Concept 2 proposes eight townhouse residences, each featuring two bedrooms, 2.5 baths, an attached two-car garage, and private outdoor garden space. Rare opportunity for builders and developers to acquire a well-located redevelopment site in one of Greater Boston's most desirable suburban communities. All redevelopment concepts are subject to Planning Board review and approval, design review, and all applicable municipal and regulatory approvals. Seller is willing to cooperate with the purchaser during the permitting process, with closing structured upon mutually agreed milestones.
Stoneham is located in Massachusetts. Stoneham, Massachusetts has a population of 23,077. Stoneham is less family-centric than the surrounding county with 33.08% of the households containing married families with children. The county average for households married with children is 35.9%.
The median household income in Stoneham, Massachusetts is $105,541. The median household income for the surrounding county is $111,790 compared to the national median of $69,021. The median age of people living in Stoneham is 42.8 years.
The average high temperature in July is 81.5 degrees, with an average low temperature in January of 16.9 degrees. The average rainfall is approximately 49.6 inches per year, with 51.3 inches of snow per year.
