388 Acre Land Portfolio -Burgaw, NC Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30564861
Property Subtypes: Multi-Family, Office, Residential (Single Family), Other
Gross Land Area: 388 Acres
Sale Price: $8,000 - 20,000 Per Acre
Total Price: $3,104,000 - 7,760,000
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/16/2020

Overview / Comments

This 388 (+/-) acre land portfolio is a great opportunity in the growing town of Burgaw, NC. The acreage is made up of multiple parcels (20) that are being sold together in a single portfolio.

The land portfolio includes the old Buccaneer Golf Course ( Also known as the Coastal Carolina Country Club) which has been out of commission since 2005. The golf course land (140 Acres) is zoned PUD-1 and has deed restrictions that it must be used as a golf course. The land surrounding this beautiful golf course property is Zoned R-20 & O&I. These lots do not have any deed restrictions and have access to the Town of Burgaw municipalities in multiple locations.

The old Golf course land includes 19 Fairways that in 2005 were considered some of the best greens in the area with beautifully wooded fairways, multiple acre ponds, sophisticated irrigation systems, multiple storage buildings, a clubhouse, and much more.

The 249 acres surrounding the golf course have tremendous development potential and is zoned R-20. If the golf course is not going to be used as a golf course in the future, it would make a beautiful nature preserve and community green space.

Most of this property portfolio is zoned R-20 ( 231 acres) with the rest being zoned O&I (18 acres) and PUD-1 (140 acres). There is a small .54 acre lot along 117 that is zoned R-20, it has a single-family home on it that is being rented for $500/month. The old clubhouse on the golf course is also being rented to a church for $1500/ month.

There are over 104 feet of road frontage on U.S Hwy 117 and 840 feet of road frontage off of Annie P. Faison Rd with access to the Town of Burgaw's municipal water and sewer. Both road accesses provide more than 60 ft of right-of-way required for residential development and more than two entry points onto the property fulfilling Pender County's new residential development fire code. One of the lots has access to a single-family community called Village on Eighteen. This road has access to sewer and water on Ballybunion Lane.

The 104-acre tract on the south side of the portfolio was recently cleared for timber. The golf course has endless trails and a few of the fairways are still cleared and manicured. There is a 5-acre pond that has been acclimated and stocked with fish that have been maturing over the last 20 years ( Bass, Brim, & Catfish). This pond would make a beautiful community feature with plenty of mature hardwoods for nature trails and much more.

There are more than five large ponds on this property with sophisticated drainage systems and bulkheads. As I mentioned earlier, The majority of this property is zoned R-20 but an adjoining property owned by a local developer has been successfully rezoned from R-20 to R-7 to protect environmental lands. This may be an option but must be discussed with local planning authorities.

* The Pender county tax records show that the golf Course land PUD-1 ( 3239-04-2300-0000) consists of 240 Acres. Using the GIS measurement tool I was only able to confirm about 130 acres. A survey will need to be done to resolve this discrepancy.

If the tax records are correct then this portfolio is actually 508 acres total. The seller believes there is a discrepancy in the tax records, so we are listing it as 388 acres instead of 508 acres.

Additional Details

Nearest MSA: Wilmington
County: Pender
Taxing Authority: Town of Burgaw
Tax ID/APN: Multi Parcel : 3239-10-5836-0000, 3239-11-7944-0000, 3229-81-3143-0000, 3229-81-9004-0000, 3229-91-4024-0000, 3229-90-7421-0000, 3229-93-0415-0000 3239-94-3063-0000, 3239-03-7141-0000, 3229-12-2628-0000, 3239-14-3118-0000, 3239-02-8751-0000, 3239-04-2300-0000, 3239-13-2224-0000, & 3239-22-6858-0000
Zoning: 18 ACRES (+/-) ZONED : O&I , 231 (+/-) ACRES ZONED R20, 140( +/-) ACRES ZONED PUD-1,
Property Located Between: U.S 117 and I-40 in the Town of Burgaw
Property Visibility: Excellent
Largest Nearby Street: Highway U.S 117 & Interstate 40
Highway Access: U.S 117 - Road Access I-40 - Less than 1 mile
Site Description: This Land Portfolio Includes 20 different lots that make-up about 388 (+/-) acres. Together the 20 lots create a very unique property with tremendous potential. This land portfolio includes the old Buccaneer Golf Course ( Also known as the Coastal Carolina Country Club) which has been out of commission since 2005. The golf course land ( 140 Acres) is zoned PUD-1 and does have deed restrictions that it must be used as a golf course. The land surrounding the beautiful golf course property is Zoned R-20 & O&I. These lots do not have any deed restrictions and have access to the Town of Burgaw municipalities in multiple locations. The old Golf course land includes 19 Fairways that in 2005 were considered some of the best greens in the area with beautifully wooded fairways, multiple acre ponds, sophisticated irrigation, multiple storage buildings, the country club, and much more. 104-acres recently cleared Zoned R-20 Six or more 2-5-acre ponds Private Acces to E-Wilmington Street, U.S 117, and Annie P Faison Rd.
Area Description: Burgaw, NC is the heart of Pender County with several different avenues of transportation including, Interstate 40, Highway 53, and US Highway 117, which all conveniently run through the Town. Burgaw, NC is located between Jacksonville, NC and Wilmington, NC with nearby area cities of Rocky Point, Castle Hayne, and Wilmington. Short distance of 25 minutes away to the popular University of North Carolina at Wilmington and Wilmington’s International Airport. Burgaw is also known for it’s Historic Downtown District. Entered into the National Register of Historic Places in 1999, Burgaw is situated near the center of Pender County. Several of the city’s common real estate are considered historic including the Train Depot which was built before the Civil War. It has been said that “Burgaw’s heartbeat was first at the depot” because it was established before the town was officially integrated-by nearly 30 years to be exact. The Town of Burgaw is home to many parks and recreation, including Hankins Park, Harrell Memorial Park, Pender Memorial Park, and Rotary Park just to name a few. Pender Memorial Park offers baseball, softball, soccer, and football facilities for all your family’s athletic needs! Other area parks offer trails, picnic areas for those sunny Sunday afternoons, playground areas and also tennis courts! Fishing, kayaking, and boating on the Northeast Cape Fear River capture the residents and visitors of Burgaw. With its loading docks being less than 15 minutes away, it is the perfect outdoor retreat for summers or even weekends. The River is approximately 130 miles long filled with a variety of horticulture and wildlife. Burgaw has preserved the small-town charm it originally started out with. Shopping opportunities, schools, and parks are all within walking distance of the town’s residential neighborhoods. The small town prides itself on shopping locally, knowing and supporting the local farmers who grow their foods, overall supporting it’s a closely integrated community. http://www.wilmingtonbiz.com/more_news/2019/06/14/entrepreneur_richard_johnsons_latest_project_aims_to_boost_burgaw/19066
Zoning Description: O&I, R-20, PUD-1
Part of Planned Development?: Yes
Development Name: Village on Eighteen AND Buccaneer Golf Course
Easements: Electric Lines, Ingress/Egress, Utilities, Other
Easements Description: Electric Easement, Town of Burgaw utilities, & Multiple Private access easements.
Available Utilities: Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 5,452 7,833
Median Age: 41.52 39.44
Households: 1,898 2,809
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Cape Fear REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.