By Mike Hazlip—
A one-acre vacant lot across from the Citrus Heights Leatherby’s restaurant is on the market for $750,000.
Listing agent Ben Faubion, principal of CapWise Commercial Advisors, told The Sentinel on Friday that the property at 7915 Antelope Rd. has been attracting consistent interest from potential buyers, with several offers currently on the table. He said buyers are primarily interested in developing the site for multi-family residential use, but self-storage developers and others have also shown some interest.
The site is located in the Antelope Commons Special Planning Area (SPA), which restricts uses to residential or office developments as a way to “buffer future residents from Antelope Road and adjoining commercial uses,” according to the city’s zoning code.
The zoning code allows density of up to 10 dwelling units per acre in the SPA, however Faubion says city approval could be sought for increased density. The listing includes visuals showing options for a 40-unit apartment complex or a 10-unit townhome layout with an office building, or a 16-unit townhome development.
“I think it makes a lot of sense for some higher density there,” said Faubion. “It starts to address some of the housing shortage in the region in general.”
See property listing: click here.
Faubion said the Antelope Commons area is intended to be a “transition piece,” located between commercial development along Sunrise Boulevard and residential areas north of Antelope Road.
The property was initially listed in September 2021 for $950,000, but the price was subsequently reduced. Faubion said the price change was made to more accurately reflect increased construction costs and adapt to changing market conditions during the pandemic.
