112 Acres Central Business District Shallotte

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 30613469
Property Subtypes: Hospitality, Multi-Family, Office, Residential (Single Family), Retail
Status: Pending
Gross Land Area: 112 Acres
Sale Price: $2,950,000
Unit Price: $26,339 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/11/2021

Overview / Comments

Magnificent 112 Acres of Land in the Commercial Center of Shallotte, NC
ideal for a mixed use development with retail and commercial uses along Smith Ave. and residential communities along the marsh and riverfront. Property contains a mixture of woodlands and cleared areas on the approximately 60 acres of high ground and approximately 52 acres of marsh and wetlands along the Shallotte River.
This site sits directly across from Shallotte Crossing Shopping Center, home to Home Depot, Office Depot, Belk, along with numerous other restaurants and retailers. Coastal Walk Marketplace is currently under construction at the intersection of Main Street & Smith Avenue which will feature Ulta, Ross, Marshalls, PetSmart, Hobby Lobby and Rack Room. The Shallotte Riverfront Project sits across the Shallotte River from the site and will create a vibrant destination complete with shopping, dining, entertainment, business and residential space. The Riverfront Project is is in the planning and preliminary construction phase and will ultimately connect via walking trails across Main Street to the Mulberry Street Park, permanent home to the Shallotte Farmers Market equipped with an amphitheater, pavilion, playground, community garden and walking trails.
The Town of Shallotte is the central point of commerce for the South Brunswick Islands, servicing the shopping, dining and recreational needs of the year-round residents and tourists to the island resort communities.

Additional Details

Nearest MSA: Myrtle Beach-Conway-North Myrtle Beach
County: Brunswick
Taxing Authority: Town of Shallotte & Brunswick County
Tax ID/APN: 19800019 & 1980001901
Zoning: SH-HB, SH-B-2
Property Located Between: Main Street & Smith Avenue Shallotte
Property Visibility: Excellent
Legal Description: 55.35 ACRES OFF US 17 & 56.98 AC PLAT Q/135 OFF NC 130
Largest Nearby Street: Business 17 (Main Street)
Feet of Frontage: 2,450
Area Description: The challenge facing the South Brunswick Islands is the disconnect between the positive story we have to tell and the data relied upon by the businesses that we would like to attract, both to provide the services needed and desired by the year-round residents and vacationers to the area. The census data shows that 55% of the households in the South Brunswick Islands have Social Security income and 38% Retirement income, however, communities in the South Brunswick Islands rank #1, 2, 5, 6 & 7 of the wealthiest zip codes in the three-county Wilmington Region. The census shows 50% of the homes in our community are vacant, while in reality 50% of the homes are second homes and year-round vacation homes for high net worth individuals. The Town of Shallotte, the center of commerce for the South Brunswick Islands, boasts a population of only 3,970 yet is able to support a Lowe’s Home Improvement, Home Depot, Walmart, Office Depot, Belk, Chili’s, Golden Corral and many others.
In Flood Plain?: Yes
Topography: Gently Sloping
Available Utilities: Electric, Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,223 11,929
Median Age: 45.18 44.67
Households: 2,218 5,089

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