A fully developed parcel or lot is a parcel of land with an existing development or use that may or may not be part of a previous subdivision or short subdivision, binding site plan or any formal development approval, is of a size that is within the range of density or intensity permitted within the underlying zoning classification, is generally similar in size to other developed parcels or lots within the immediate vicinity, and does not qualify within the definition of an undeveloped or underdeveloped parcel or lot. Any lot or parcel with an existing residential development or use that is below 10,890 square feet shall be classified as fully developed. (Ord. 1218 §5, 2004).