49 E 2nd Ave. Longmont
Sale Price: $457,280
Acres: 1.05 Acres(45,728sf)
Price/SF: $10.00/SF
Property Zoning: MU-E (Mixed Use Employment)
Utilities: Electricity, Owner has signed a temporary construction easement with the city so that the City of Longmont can bring in water/sewer and gas in fall of 2023.
Highlights:
- This Land adjacent to proposed development of a 198 unit, 4 story, 4 building apartment complex with a clubhouse, gym, dog park, and pool.
- offers a variety of Public, Commercial, and Industrial uses. The Lot is a level lot that measures approximately 200’ x 228’ and is currently used as a storage lot that is rented out on a month-to-month basis. Current renter will continue to rent month to month if needed after sale
49 E 2nd Ave. (2).pdfProperty Description and Highlights
The lot is Zoned Mixed Use Employment (MU-E) which offers a variety of Public, Commercial, and Industrial uses. The Lot is a level lot that measures approximately 200’ x 228’ and is currently used as a storage lot that is rented out on a month-to-month basis. Current renter will continue to rent month to month if needed after sale.
This lot is located within the Colorado Enterprise zone which was created to encourage development in economically distressed areas of the state. In designated enterprise zones:
businesses are eligible for state income tax credits and sales and use tax exemptions for specific business investments
economic development projects form by incentivizing taxpayers to contribute through state income tax credits
taxpayers who contribute to enterprise zone projects may earn income tax credits
Lot is located in a Federal Opportunity Zone. Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States. Their purpose is to spur economic growth and job creation in low-income communities while providing tax benefits to investors. The program provides three tax benefits for investing unrealized capital gains in Opportunity Zones:
Temporary deferral of taxes on previously earned capital gains
Basis step-up of previously earned capital gains invested
Permanent exclusion of taxable income on new gains
