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fact that the building is currently vacant presents a unique acquisition opportunity that doesn’t exist with many of the other especially flood-prone properties in the FWOP. However, because it is a former service station, there may be environmental remediation necessary to fully decommission the property.

512 Pennsylvania Avenue Property Description:

  • Ownership: Thomas McCarron

  • Contact: Same

  • Parcel Size: 1.16 acres

  • Building Size: 6,026 square feet

  • Current Use: Vacant

  • Current Tenants: N/A

  • Assessed Value: $625,000

512 Pennsylvania Avenue is a small two-story office building near the corner of Commerce Drive and Pennsylvania Avenue that once housed a Commerce Bank office. The property will be in the 25-year floodplain upon completion of the dams. The phone number for the owner is disconnected, as is the case for the bank. Therefore, we are assuming that the building is vacant.

Parcel is Vacant

A third category of property types in the FWOP is a vacant parcel or lot. There are two such highly flood- prone parcels in the Office Park. One is in the 25-year floodplain and the other in the 50-year floodplain.

514 Pennsylvania Avenue Property Description:

  • Ownership: RCA Group

  • Contact:

  • Parcel Size: 0.65 acres

  • Building Size: N/A

  • Current Use: Vacant

  • Current Tenants: N/A

  • Assessed Value: $219,450

514 Virginia Drive is a small vacant parcel located in the existing 100-year floodplain, but in the 25-year floodplain after the dams are built. A building once existed on the property but was recently demolished.

522 Pennsylvania Avenue Property Description:

  • Ownership: James Greipp

  • Contact: Same

  • Parcel Size: 0.49 acres

  • Building Size: N/A

  • Current Use: Vacant

  • Current Tenants: N/A

  • Assessed Value: $20,000

Technical Memorandum #1UDT: Characteristics of Flood-Prone Parcels

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