Catylist ID:
#30680551
+/- 120.3 Acre Rocky Point Development Tract
Vacant Land
for Sale
Sale Pending
| Catylist Listing ID: | 30680551 |
| Property Subtypes: | Hospitality, Mobile Home Park, Multi-Family, Residential (Single Family), Other |
| Status: | Pending |
| Gross Land Area: | 120.30 Acres |
| Sale Price: | $1,100,000 |
| Unit Price: | $9,143 Per Acre |
| In Opportunity Zone? | Yes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/23/2022 |
Overview / Comments
|
+/-120 acre Residential Performance development tract in fast-growing Rocky Point for less than $10,000/acre, located nearly adjacent to the NC-133 and US-117 intersection and in a designated Opportunity Zone. Positioned within 15 miles of most major Wilmington Area employers, easy access to I-40, area beaches, Historic Downtown Wilmington and a vast array of outdoor recreation opportunities–the location appeals to a large group of potential homebuyers as proven by the incredible success of other nearby new home developments. Residential Performance zoning provides 15,000sf lots with septic by-right and 12,000sf lots with connection to municipal or community water and sewer systems. Municipal water is available at the NC-133 frontage. This tract could potentially support 250 or more single family residential lots with the appropriate infrastructure. A Planned Unit Development including townhouses or multifamily may provide even more density. The Wilmington MSA was recently found to be number one in the country for inbound moves and has been experiencing an increasingly severe housing shortage for years. These conditions create incredible opportunity for new housing developments in the area. Pender County is historically favorable to residential development with fewer barriers to entry than other counties in the region. |
Additional Details
| Nearest MSA: | Wilmington |
| County: | Pender |
| Taxing Authority: | Pender County |
| Tax ID/APN: | 3233-06-8972-0000 |
| Zoning: | RP |
| Property Located Between: | 2,322 feet from the NC 133 and US 117 intersection |
| Property Visibility: | Excellent |
| Legal Description: | 120.30 Acres On Nc Hwy 133 |
| Largest Nearby Street: | NC 133 |
| Feet of Frontage: | 1,314 |
| Highway Access: | 1/8th mile from US 117, approximately 2.5 miles from closest I-40 interchange |
| Airports: | ILM 4.5 miles |
| Lot Frontage: | 1314 |
| Lot Depth: | 3942 |
| Zoning Description: | Residential Performance District (RP) shall meet the following general standards: 1) Buildings on the periphery of a Residential Performance Development shall be setback no less than twenty (20’) feet from the adjoining property line. Additional buffers may be required based on the adjacent land use. See buffer chart in Section 8.2.6. 2) All undivided areas within the development (other than street rights-of-way, parking, and structures) shall be designated as open space as defined in Appendix A Definitions and Article 8. Such open space shall be offered to the public or encumbered for the perpetual benefit of the residents. 3) Private streets will be permitted in Performance Residential Developments; however, dedication of public streets and utility easements shall be required if such are indicated on the official plans as adopted by Pender County or any municipality if it is determined by the County Planning Board. 4) When a development proposal is submitted under this Article, it shall be processed as a Master Plan. 5) Projects proposing less than ten (10) lots shall be submitted as one phase and must be contiguous when submitted for final plat. 6) A homeowners association shall be established and kept continuously active, for the maintenance of open and private spaces and stormwater runoff, along with any private water, sewer or roads, when warranted. 7) All requirements of Article 9 Flood Damage Prevention must be met. 8) Any land designated as usable open space shall be used in calculating the density for a proposed development. 9) Buffer strips shall be required and maintained by the Homeowner’s Association. 10) All preliminary plans shall provide the approximate delineation of Corps of Engineers Section 404 and Section 10 Wetlands. |
| In Flood Plain?: | Yes |
| Topography: | Gently Sloping |
| Available Utilities: | Electric, Water, Cable, Internet Access |
| Water Service: | Municipal |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 1,819 | 12,038 |
| Median Age: | 39.2 | 38.2 |
| Households: | 694 | 4,405 |
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