+/- 120.3 Acre Rocky Point Development Tract

Vacant Land for Sale
Catylist Listing ID: 30680551
Property Subtypes: Hospitality, Mobile Home Park, Multi-Family, Residential (Single Family), Other
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: 7/21/2021

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

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,819 12,038
Median Age: 39.2 38.2
Households: 694 4,405

Contact

Photograph of Listing Agent

Eric Knight

Nest Realty NCCMLS Member
Photograph of Listing Agent

Ryan Crecelius

Nest Realty NCCMLS Member
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