13.2 Acre Future Interstate (I-42 ) Hard Corner Lot For Sale

Vacant Land for Sale
Catylist Listing ID: 30730766
Property Subtypes: Agricultural, Hospitality, Industrial, Mobile Home Park, Multi-Family, Office, Residential (Single Family), Retail, Retail-Pad, Self Storage, Vacation/Resort, Other
Gross Land Area: 13.20 Acres
Sale Price: $2,500,000
Unit Price: $189,393 Per Acre
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing
Auction License Number: n/a
Cap Rate: Undisclosed
Last Updated: 11/30/2021

Overview / Comments

This huge corner lot consists of 3 separate parcels totaling +/-13.2 acres at the intersection of Hwy 70 and Willie Measley Rd. The future Interstate 42 will be developed at the current intersection of this property, giving the land superior visibility and accessibility off of the highway. The largest tract of the three parcels consists of 9 acres and has a 25,176 square foot concrete block building built onsite. The building has good bones and can be repurposed for a variety of operations. This prime corner lot will be one of the first properties accessible off the new bypass which will serve as a main artery for this market. The DOT is planning on acquiring the land needed to complete the project within the next few years, this could potentially offset the purchase price significantly after they complete their acquisition. With the infrastructure in place, this area has potential to see a population increase as the bypass will reduce drive times to larger MSA's.

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Additional Details

Nearest MSA: Kinston
County: Lenoir
Taxing Authority: Lenoir County
Tax ID/APN: (1) 357600115549 (2) 357600114147 (3) 357600111422
Zoning: INDUSTRIAL
Property Located Between: Hwy 70 & Willie Measley Rd
Property Visibility: Excellent
Legal Description: 3141 Willie Measley Road 314
Largest Nearby Street: Hwy 70
Traffic/Vehicle Count: 29,000
Highway Access: Direct access to Hwy 70
Airports: Stals NDB IS 276 & Kinston Global Transpark
Site Description: The site is generally flat and is zoned for industrial use.
Area Description: This area of La Grange should see growth in the future as the state works towards improving the infrastructure surrounding the area. With major highway systems being planned for development, this site could potentially be a major intersection in a rapidly growing community in the future.
Lot Frontage: 929'
Lot Depth: 851'
Zoning Description: Industrial
Topography: Level
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Sewer, Storm Drain, Cable, Broadband, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 6,434 10,801
Median Age: 40.51 39.86
Households: 2,622 4,336

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