54 +/- AC Mixed Use - Shallotte, NC

Vacant Land for Sale
Catylist Listing ID: 30380242
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail
Gross Land Area: 54.55 Acres
Sale Price: $1,975,000
Unit Price: $36,205 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/17/2020

Overview / Comments

A truly unique mixed-use development opportunity. This 54.45 acre tract of land is located just off Highway 17 at the 17 Business exit in Shallotte, NC. The Tract is zoned CO-CLD with water and sewer service in front of the site. Potential uses include affordable single and multi-family, both for sale and rent, given the loss of units resulting from Florence. The front section offers commercial opportunities, including outparcel adjacent to Golden Corral, as well as medical or professional office development sites. The proposed DOT projection on Highway 17 at the intersection will impact this property, based on the recently released plans.

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Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Tax ID/APN: 19700018
Zoning: CLD
Property Visibility: Excellent
Legal Description: 54.55 AC PL109/26, PID 19700018
Largest Nearby Street: Old Shallotte Road at Highway 17
Feet of Frontage: 657
Traffic/Vehicle Count: 26,000
Highway Access: Signalized access to Highway 17.
Airports: Myrtle Beach and Wilmington International
Site Description: Located on the West side of Highway 17, this property provides convenient access to Shallotte via a signaled intersection and Old Shallotte Rd/Main Street. The Southern most section of the property, approximately 30 acres is cleared and used for corn production. The site is bounded on the South by Old Shallotte Road (continuation of 17Business), East by Wildwood Street & SFR, West and North by vacant land.
Area Description: Golden Corral and Smithfield Barbecue are adjacent to the site on the East side across Wildwood Street. A tract of approximately 5 acres is bounded by Highway 17 and Old Shallotte Road South of the property. Other proximate commercial development include an automobile dealer and a furniture store across Highway 17. Development on East Coast Lane, which parallels Highway 17, includes a hotel property and small real estate office in a former restaurant building. Mature single-family neighborhoods lie to the West and North of the site.
Zoning Description: Brunswick County - CO-CLD - This District is intended primarily to be used in outlying areas, adjacent to major thoroughfares, with yards and other provisions for reducing conflicts with adjacent residential uses, and with substantial setbacks to reduce marginal friction on adjacent major thoroughfares. Commercial uses in this District will serve the needs of residential neighborhoods for auto-dependent commercial facilities; and serve the needs of highway oriented tourist business.
Topography: Gently Sloping
Soil Type: Mixed
Available Utilities: Electric, Water, Sewer, Cable, Internet Access
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,237 15,086
Median Age: 45.34 47.21
Households: 2,218 6,539
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