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Multi-Family

7.36 Acres

400 N Beeline Hwy, Payson, AZ 85541

Listing Price: Request For Offer

Lot Size
7.36 acres
Land Type
Land

Investment Overview

Marcus Millichap is pleased to exclusively present for sale ± 7 36 vacant acres at the signalize NWC of Arizona State Route 87 and W Rumsey Drive in Payson. Payson is located about 90 minutes northeast of the Phoenix/Scottsdale metro area in Gila County, Arizona (population population±54 k). Payson is in the geographic center of Arizona and serves as the gateway to the White Mountains recreational areas. The site is located to the immediate north the Payson Wal Mart Super Store, and close to Home Depot, Safeway Supermarket, Basha’s, Walgreen, Wells Fargo, Culver’s, Dutch Bros, Starbucks, Chapman Auto and Chili’s. The ± 4 2 acres on the eastern portion of the property, which fronts on the Beeline Highway is zoned C-2 while western portion ± 3 1 acres is zoned R-3 by the Town of Payson. Under the town’s C-2 and R-3 zoning designations, a variety of multifamily development options are permitted. Seller will grant a qualified buyer time to seek government approvals. This property has ± 600 feet of frontage on the Beeline Highway (State Route 89) with an average daily traffic count of ± 18, 232 in 2020 and ±790 feet of frontage on W Rumsey Drive. The property is one of the highest elevations in the heart of central Payson and offers outstanding views of the surrounding mountains. It has rolling topography with high desert vegetation and mature trees. Town of Payson water and sewer as well as electricity and natural gas lines are located underground at the property line. In 2020, the Town of Payson had a population of ± 16 k, household income of $61 k and median age of 58.4 years old. Payson’s major employers include Payson Unified School District 322, Mazatzal Casino Hotel 285, Wal Mart 250, Gila County 233, Banner Payson Medical Center 225, Town of Payson 173, Payson Care Center 135, Rim Country Health 131, Safeway 121, Home Depot 113, Gila Community College Payson Campus 121, Basha’s Supermarket 70, and Chapman Auto 43.

Investment Highlights

  • Potential multifamily, senior housing or commercial development site
  • Difficult Development Area ( Qualifies for a 30 boost in the LIHTC eligible basis
  • Frontage on two side of the property AZ State Route 87 W Rumsey Drive
  • Signalized hard corner with curb and sidewalk in place on a portion of the property
  • Avg HH income 121 k and 103 K within a 2 mile and 5 mile radius, respectively

Exclusively Listed By

Listing Price: Request For Offer

Lot Size
7.36 acres
Land Type
Land

Investment Highlights

  • Potential multifamily, senior housing or commercial development site
  • Difficult Development Area ( Qualifies for a 30 boost in the LIHTC eligible basis
  • Frontage on two side of the property AZ State Route 87 W Rumsey Drive
  • Signalized hard corner with curb and sidewalk in place on a portion of the property
  • Avg HH income 121 k and 103 K within a 2 mile and 5 mile radius, respectively

Investment Overview

Marcus Millichap is pleased to exclusively present for sale ± 7 36 vacant acres at the signalize NWC of Arizona State Route 87 and W Rumsey Drive in Payson. Payson is located about 90 minutes northeast of the Phoenix/Scottsdale metro area in Gila County, Arizona (population population±54 k). Payson is in the geographic center of Arizona and serves as the gateway to the White Mountains recreational areas. The site is located to the immediate north the Payson Wal Mart Super Store, and close to Home Depot, Safeway Supermarket, Basha’s, Walgreen, Wells Fargo, Culver’s, Dutch Bros, Starbucks, Chapman Auto and Chili’s. The ± 4 2 acres on the eastern portion of the property, which fronts on the Beeline Highway is zoned C-2 while western portion ± 3 1 acres is zoned R-3 by the Town of Payson. Under the town’s C-2 and R-3 zoning designations, a variety of multifamily development options are permitted. Seller will grant a qualified buyer time to seek government approvals. This property has ± 600 feet of frontage on the Beeline Highway (State Route 89) with an average daily traffic count of ± 18, 232 in 2020 and ±790 feet of frontage on W Rumsey Drive. The property is one of the highest elevations in the heart of central Payson and offers outstanding views of the surrounding mountains. It has rolling topography with high desert vegetation and mature trees. Town of Payson water and sewer as well as electricity and natural gas lines are located underground at the property line. In 2020, the Town of Payson had a population of ± 16 k, household income of $61 k and median age of 58.4 years old. Payson’s major employers include Payson Unified School District 322, Mazatzal Casino Hotel 285, Wal Mart 250, Gila County 233, Banner Payson Medical Center 225, Town of Payson 173, Payson Care Center 135, Rim Country Health 131, Safeway 121, Home Depot 113, Gila Community College Payson Campus 121, Basha’s Supermarket 70, and Chapman Auto 43.

Exclusively Listed By

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