Definitions for "Key lot"
A lot of which ownership is essential in acquiring a piece of land for development either because of its strategic location or the timing of the acquisition.
(1) A strategically located lot, adding to its value. (2) A lot adjoining a corner lot at its rear property line with frontage on the secondary street. Also called a Butt Lot.
A tract of land which sells for a high price because of its desirable location.
The one property in a development that is key to the entire development's success.
A piece of property which is pivotal to the success of a proposed development.