What Is a Flag Lot in Real Estate?

Last updated 03/19/2024 by

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Summary:

A flag lot is a type of real estate property that is shaped like a flag, with a narrow strip of land extending out from a larger piece of land. The narrow strip of land is typically used for access to the main property, and the main property is often used for residential or commercial development. Flag lots are sometimes also referred to as “flagpole lots.”

Flag lots are often created when a property owner wants to divide a larger piece of land into two or more smaller lots but there is not enough frontage on a public road to accommodate the desired number of lots. In this case, the property owner may create a flag lot by adding a narrow strip of land that connects the main property to a public road.

Flag lots can offer a number of benefits, including the ability to create additional building sites on a property that might otherwise be too small for development. However, they can also present challenges, such as limited access to the main property and potential issues with access to utility lines and other services.

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What is a flag lot in real estate?

A flag lot, also sometimes called a “flagpole lot,” is a property that is shaped like a flag — that is, it has a narrow strip of land extending out from a larger piece of land. The narrow strip of land serves to provide access to the main property, which is often used for residential or commercial development.

Here is an example of what a flag lot might look like:

As you can see, the main property is located behind the narrow strip of land, which is used for access. The main property may be oriented to take advantage of views or other features of the surrounding landscape.

Flag lots can vary in size and shape, and the exact layout of a flag lot will depend on the specific property and the surrounding area. However, the general idea is that the main property is connected to a public road via a narrow strip of land, which is used solely for access.

Why do developers create flag lots?

Property owners often create flag lots when they want to divide a single large piece of land into multiple smaller lots, but the desired number of lots can’t be accommodated by the available frontage on a public road. In this case, the property owner may add a narrow strip of land connecting the main property to the public road to create a flag lot.

Pros and cons of flag lots

Before buying a home on a flag lot, it’s important to carefully weigh the upsides and downsides of your investment:

Pros of flag lots

The following are a few of the potential advantages of a flag lot:

Privacy: Flag lots often offer more privacy than standard building lots due to their unique shape and location.
Efficient use of land: Because flag plots allow for a high density of development, they can be a more efficient use of land compared to other types of development that spread out over a larger area.
Potential for increased property values: In some cases, flag plots can lead to increased property values due to the high density of development and the potential for amenities and other features to be included in the development.Natural beauty: Flag lots may have more natural beauty due to their location in rural or suburban areas.

Cons of flag lots

Here are some of the potential downsides of a flag lot:

Size: Flag lots are often smaller in size than standard building lots, which may be a drawback for some buyers.
Shape: A flag lot is shaped like a flag, with a narrow strip of land extending from a larger main body. This can make flag lots less desirable to buyers who prefer a more traditional, rectangular-shaped lot.
Access: Flag lots may have longer or more winding driveways, which can make them less convenient to access. This may make them less attractive to buyers who value easy access to their property.
Building restrictions: Flag lots may have more stringent building restrictions due to their unique shape or location, which can make them less desirable to buyers who are looking for more flexibility when building a home.
Value: The value of flag lots may be lower in some market areas due to their unique shape or size.

Benefits of flag lots

One of the main benefits of flag lots is that they offer property owners the ability to create more building sites on a property that’s too small for development with a standard shape. Flag lots can also offer a sense of privacy and seclusion, as the main property is often situated farther from the road and surrounded by trees or other natural features.

In addition, flag lots can offer unique design opportunities for homes and other buildings, as it’s possible to take advantage of beautiful views and other features of the surrounding landscape when orienting the main property.

Challenges of flag lots

Despite their many benefits, flag lots can also present challenges for property owners and developers. One of the main challenges of flag lots is limited access to the main property, as the narrow strip of land that connects the property to the road can be difficult to navigate, particularly for large vehicles or during inclement weather.

Flag lots can also pose challenges when it comes to accessing utility lines, as the main property may be located some distance from the road, making it more difficult to connect to water, sewer lines, and other infrastructure.

In addition, flag lots can be more difficult to sell or finance, as some lenders may be hesitant to lend on properties that pose such challenges as limited access.

Flag lots can be a unique and attractive option for property owners and developers, offering the opportunity to create additional building sites and take advantage of unique design opportunities. However, it’s important to carefully consider the potential challenges of flag lots, including limited access and potential issues with utilities and services, before deciding to purchase or develop one.

FAQ

What is the lot size of a flagpole lot?

The lot size of a flagpole lot can vary widely depending on its location, the characteristics of the property, and the specific dimensions of each portion of the lot. That said, flagpole lots are typically narrow and deep, with a frontage of only 20 to 30 feet on a major street and a depth of 200 to 300 feet.

How do you calculate the lot size of a flagpole lot?

To determine the lot size of a flagpole lot, you will need to measure the street frontage (the distance along the public street) and the depth (the distance from the front to the back) of the lot, then calculate the lot size by multiplying the frontage by the depth. For example, if the frontage of a flagpole lot is 25 feet and the depth is 200 feet, the lot size would be 5,000 square feet. Note that you typically don’t include the driveway or panhandle that gives access to the lot in the plot size.

What is the difference between a corner lot and a flagpole lot?

A corner lot is a normal lot that is located at the intersection of two streets. Corner lots typically have street frontage on two sides, are often larger in size than other lots in the same neighborhood, and tend to be more suitable for residential development.

A flagpole lot, on the other hand, is a lot that is narrow and deep, typically with a frontage of only 20 to 30 feet on a major street and a depth of 200 to 300 feet. Flagpole lots are often found in commercial or industrial areas, and they are named for their shape, which resembles a flagpole.

What does it mean when land is flagged?

Flagged land is not the same as a flag lot. “Flagging” land generally refers to the process of marking or identifying a specific piece of land in some way, typically for the purpose of surveying, mapping, or identifying boundaries.

The following are a few ways that land can be flagged:

Physical markers: Land can be flagged by placing physical markers on the ground, such as flags or stakes. These markers can be used to identify the corners of a lot, the boundaries of a property, or other features of the land.
Survey lines: Land can also be flagged by surveying the land and creating lines or markers that identify the boundaries of the property. Survey lines can be marked on the ground or on a map, and they are used to establish the legal boundaries of a property.
Virtual markers: In some cases, land may be flagged using virtual markers, such as GPS coordinates or other types of digital markers. These markers can be used to identify the location and boundaries of a property in a digital mapping system.

What other types of lots are there?

There are multiple types of lots besides flag lots. The following are a few examples:

Standard lots: Standard lots are the most common type of lot and are typically rectangular or square in shape. They are often found in subdivisions or planned communities and can range in size from small urban lots to large rural lots.
Corner lots: Corner lots, as the name suggests, are situated at the corner where two roads meet, with street frontage on two sides. They are often larger than standard lots and may offer more privacy and views.
Waterfront lots: Waterfront lots are properties that have frontage on a body of water, such as a lake, river, or ocean. These lots are highly desirable for their scenic views and easy access to water-based recreational activities.
Irregular lots: Irregular lots are properties that do not have a standard shape, such as a rectangle or square. These lots can be more challenging to develop and may need to meet special zoning and building regulations.

Why are flag-shaped building lots less valuable than standard building lots in some market areas?

There are multiple reasons why flag-shaped building lots may be considered less valuable in some market areas, including their smaller size, unique shape, limited access, and building restrictions, among other factors. All of these qualities may reduce demand for flag lots, thus making them less valuable than standard lots with more desirable features.

What is the difference between a block and a lot?

A lot is a specific piece of land that is used for residential or commercial development. Lots can be any size and shape and are typically identified by a lot number or address.

A block, on the other hand, is a group of lots that are bounded by streets and often form part of a larger development or subdivision. A block is larger than an individual lot and may contain several lots, as well as common areas or amenities.

For example, a developer might divide a large piece of land into several blocks, with each block containing multiple lots. A buyer might then purchase a specific lot within one of these blocks for the purpose of building a home or other structure.

What is the difference between a cul-de-sac and a flag lot?

A cul-de-sac is a type of street that is closed at one end, forming a circular shape. They are often used in residential developments and are designed to reduce traffic and improve safety. A flag lot, on the other hand, is a type of real estate property that is shaped like a flag, with a narrow strip of land that provides access to a larger piece of land farther from the street.

Key Takeaways

A flag lot is a type of property that is shaped like a flag: a larger piece of land is connected to the street by a narrower strip of land.
Creating a flag lot allows a property owner to split a single piece of land into multiple smaller lots when there otherwise isn’t enough frontage on a public street.
Flag lots can offer a number of benefits, including unique design opportunities and the ability to create new building sites on a smaller property.
Conversely, flag lots can also present challenges, such as limited access to the main property, potential issues with access to utilities, and difficulties when buying or selling the property.
The value of a flag lot will depend on a variety of factors, including its location, size, and features, as well as the overall demand for real estate in the market area.

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