34.5 Acre Development Tract For Sale Highway 17

Vacant Land for Sale
Catylist Listing ID: 30743192
Property Subtypes: Industrial, Multi-Family, Residential (Single Family), Retail, Self Storage
Gross Land Area: 34.45 Acres
Sale Price: $24,900 Per Acre
Total Price: $857,805
Adjacent Parcels Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/2/2021

Overview / Comments

The offering consists of approximately 34 acres of property, located in the Winnabow area of unincorporated Brunswick County and is situated on the east side of US Highway 17, just north of Bell Swamp Connection Road. The property was previously harvested for timber within the last 10-years.

The property is zoned Commercial Low Density (CLD) by Brunswick County. Municipal water is located on the west side of Highway 17, directly across from the site. A 16 inch sewer force main operated by Brunswick County is located on the east side of Highway 17 along the property frontage.

The existing zoning would allow a variety of commercial uses by right. To develop the property for residential uses the applicant would need to pursue a Planned Development (“PD”) designation through the Planning Board. PD designations allow for 7.3 units per acre, without any lot size requirements with a 25% requirement for open space. Wetlands are allowed to be counted as open space and used towards the density allocation. Any offers contingent on a residential rezoning will be priced at the “greater of” the (i) price per acre or (ii) the permitted density multiplied by $8,500/lot.

The Seller also owns 49.5 acres on the east side of Highway 17 across from this site which is also on the market. The parcels can be purchased together or separately.

• 34 acres located on the east side of Highway 17, just north of Bell Swamp Connection Road
• Timber previously harvested within the last 10-years
• Water and Sewer available
• Zoned Commercial Low Density (CLD)
• Excellent location for residential subdivision
• Very prominent visibility

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Taxing Authority: Brunswick County
Tax ID/APN: 09700031
Zoning: CO-CLD
Property Located Between: Highway 87 (to the north) and Mill Creek Road (to the south)
Legal Description: Deed Book 000134; Deed Page 0066
Largest Nearby Street: US Highway 17
Feet of Frontage: 830
Highway Access: Highway 17
Airports: ILM
Site Description: This property is a fantastic opportunity for residential developer seeking to deliver an entry level price point community. Inventory levels of all residential “For Sale” product are at historic lows since 2019. For homes priced under $325,000, it is believed that inventory levels are well under 30-days supply.
Area Description: Brunswick County, and the Highway 17 corridor in particular, is one of the fastest growing areas in North Carolina. Highway 17 serves as the primary vehicular arterial for Southeastern North Carolina connecting Myrtle Beach, SC to Jacksonville. Surrounded by the metropolitan growth occurring in Wilmington and Myrtle Beach, the rural areas of Brunswick County along Highway 17 are experiencing tremendous residential and commercial growth. With recent manufacturing job announcements occurring in the local industrial market, this property is a prime location to capture the population growth occurring in the Greater Wilmington area.
Lot Frontage: 830 feet
Available Utilities: Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,374 5,872
Median Age: 40.79 39.55
Households: 544 2,296
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