8 Acres Zoned Residential Ready for Affordable Housing Development

Vacant Land for Sale
Catylist Listing ID: 30665107
Property Subtypes: Agricultural, Industrial, Multi-Family, Residential (Single Family), Retail, Self Storage
Gross Land Area: 8.03 Acres
Sale Price: $465,000
Unit Price: $57,907 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/9/2021

Overview / Comments

Conveniently located just north of Wilmington, approximately 8 Acres of wooded residential land zoned R-15 allowing up to 20 dwelling units (lots). If rezoned to R-10 density could be increased up to 26 dwelling units (lots). Over 500 feet of direct road frontage on US-117 allowing easy access for residential development. No utilities currently on property, City/County utilities accessible for connection to the property. Property is an easy 15 minute drive from Wilmington and associated ILM Airport. Only minutes from Interstate I-40 for an easy commute to and from the area. General area of property has municipal water, sewer and electric available for connection.

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover County
Tax ID/APN: TaxID1: R01800-002-001-000 TaxID2: 323106.37.3818.000
Zoning: R-15
Property Located Between: Just south of Castle Hayne NC on NC Hwy 117
Property Visibility: Excellent
Legal Description: PT LOT 41-A HERMITAGE ESTATES
Largest Nearby Street: NC HWY 117
Feet of Frontage: 528
Highway Access: Directly off NC HWY 117
Airports: ILM approx 10 minutes away
Site Description: Wood lot
Lot Frontage: 528
Lot Depth: 952 feet to 1352 feet
Zoning Description: New Hanover County Residential Zoned R-15
Topography: Level
Available Utilities: Electric, Water, Gas, Sewer
Water Service: None
Sewer Type: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,606 6,162 33,907
Median Age: 34.13 35.62 36.43
Households: 462 2,326 13,400


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