160 Acres - Town of Burgaw, NC Development Opportunity

Vacant Land for Sale
Catylist Listing ID: 30564861
Property Subtypes: Multi-Family, Office, Residential (Single Family), Other
Gross Land Area: 160.50 Acres
Sale Price: $2,607,000
Unit Price: $16,242 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/29/2020

Overview / Comments

This 160-acre opportunity is in the growing town of Burgaw, NC and has tremendous potential. The acreage is made up of multiple parcels and has a unique history. Previous owners planned to develop a Multi-Family property for affordable housing in the late 1990s but never moved forward with their plans due to an economic crash (see plans in photos). Most of the property is zoned R-20 ( 142.5 acres) and the rest is zoned O&I (18 acres). There is a small .54 acre lot along 117 that is zoned R-20, it has a small home on it that is being rented for $500/month. There is 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 two entry points onto the property fulfilling Pender County's new residential development fire code. There are 104 acres of the land that have been cleared and are ripe for development. 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. 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.

Attachments & Media

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
Zoning: 18 ACRES : O&I 142.5 ACRES: R20
Property Located Between: U.S 117 and I-40 in the Town of Burgaw
Property Visibility: Excellent
Largest Nearby Street: Highway U.S 117
Feet of Frontage: 104
Highway Access: U.S 117 - Road Access I-40 - Less than 1 mile
Site Description: 104-acres cleared 5-acre pond
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
Easements: Electric Lines, Utilities, Other
Easements Description: Electric Easement, Town of Burgaw utilities, & Multiple Private access easements.
Available Utilities: Water, Sewer
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 7,833 7,833
Median Age: 39.44 39.44
Households: 2,809 2,809
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