The AI-Assisted Analysis compared three property listings in Edgewater to make informed investment decisions based on their lot sizes and the applicable zoning rules. Lot sizes are a critical aspect, as most municipalities impose minimum requirements for development purposes.
One of the properties they examined was a 2,125 SF lot, which falls short of the 5,000 SF minimum requirements for development. In this instance, the property would only hold value if assembled with adjacent properties to meet the necessary criteria.
Assessing Development Multiples
The AI-Assisted Analysis looks at the development multiples and units allowed of the two remaining properties, which boasted 17X and 21X. These multiples indicate that the existing structures on these lots occupy only a small fraction of the allowable development space.
However, to understand the properties’ potential comprehensively, it’s essential to consider all zoning restrictions and regulations.