City of Methuen Master Plan
City of Methuen Master Plan
City of Methuen Master Plan
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Land Use<br />
properties). Condominiums have the lowest average valuation, making them an attractive purchase for<br />
lower income buyers.<br />
Residential Build-out Analysis<br />
The assessor’s data show 983 acres in 430 parcels <strong>of</strong> vacant developable residential land. Most <strong>of</strong> this<br />
land is located in the West and North Ends outside the ring roads. This land would support almost<br />
1,700 new dwelling units, assuming an average density <strong>of</strong> about ½ acre per unit, and 15% <strong>of</strong> the land<br />
used for new roads and utilities. Assuming a future population per housing unit figure <strong>of</strong> 2.6, the total<br />
number <strong>of</strong> additional people that could reside in <strong>Methuen</strong> when all the developable vacant residential is<br />
developed is 4,420. If the remaining developable residential land is developed at higher densities the<br />
future additional population figure would be higher.<br />
Commercial Land Uses<br />
Table 5 shows the same information as Table 4, only for commercial uses.<br />
Table 5: Types, Areas and Valuations <strong>of</strong> Commercial Properties in <strong>Methuen</strong>; FY 2006<br />
Number<br />
<strong>of</strong> Acreage<br />
Floor Area<br />
(s.f.) in Total Assessed<br />
Average<br />
Assessed<br />
Type <strong>of</strong> Use<br />
Parcels <strong>of</strong> Parcels Buildings Value<br />
Value<br />
Motels 2 7 101,016 $ 4,536,200 $ 2,268,100<br />
Nursing Home 4 9 70,978 $ 3,230,500 $ 807,625<br />
Storage, Warehouses 26 78 367,919 $ 21,235,800 $ 816,762<br />
Shopping Centers/ Malls 12 116 1,030,276 $ 103,114,500 $ 8,592,875<br />
Small Retail & Service (
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