North Kerr Avenue

Vacant Land for Sale
Catylist Listing ID: 30384334
Property Subtypes: Multi-Family, Residential (Single Family), Vacation/Resort, Other
Gross Land Area: 11.23 Acres
Sale Price: $3,100,000
Unit Price: $276,046 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/16/2021

Overview / Comments

Valuable land bordering North Kerr(no direct access).The overall property is segmented by the north - south oriented Marjorm Road. The portion to the east of the road consists of approximately 8.69 acres under NHC Zoning, and was recently Zoned RMF-L (83 Units at 10 du/ac), and is primarily wooded. This portion is drained by a usually dry ditch extending along the western property edge including Marjorm.
The portion fronting North Kerr consists of approximately 2.54 acres and is mostly cleared. It is under Wilmington zoning (R-10). Seller will support a Buyer managed rezoning request to MF (requires a site plan) for this City portion if included as part of an Offer. This R-10 authority extends across Marjorm for a short distance. The acreage fronting North Kerr has no direct connectivity to North Kerr, and uses Marjorm for access. However, it abuts Sagedale to the north. Remaining structures (to be cleared) in the R-10 portion have no value.

A survey is available to interested parties

Additional Details

Nearest MSA: Wilmington
County: New Hanover
Taxing Authority: New Hanover
Tax ID/APN: See Addendum
Zoning: R-10 (CITY) & RMF-L (NHC)
Property Located Between: North Kerr Avenue, Sagedale, and New Centre.
Property Visibility: Excellent
Legal Description: See Addendum
Largest Nearby Street: North Kerr & New Centre
Highway Access: North Kerr and New Centre
Airports: Wilmington
Site Description: Wooded, partially cleared along Kerr and Marjorm.
Lot Frontage: 299 on North Kerr. 153 plus on Marjorm.
Zoning Description: R-10 City, RMF-L NHC
Easements: Pipelines, Electric Lines
Easements Description: Duke Energy along southern property line.
Available Utilities: Electric, Water, Sewer
Water Service: Other
Sewer Type: Other

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,046 68,482 124,629
Median Age: 28.45 32.81 36.35
Households: 4,199 29,073 53,345

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