Catylist ID:
#30517697
Residential/Mixed Use Development Land NHC
Vacant Land
for Sale
Sale Pending
| Catylist Listing ID: | 30517697 |
| Property Subtypes: | Multi-Family, Residential (Single Family), Self Storage, Other |
| Status: | Pending |
| Gross Land Area: | 91.72 - 110 Acres |
| Sale Price: | $2,751,600 |
| Adjacent Parcels Available: | Yes |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 5/17/2021 |
Overview / Comments
|
Water/Sewer now planned along Sidbury! This will reduce the cost of development dramatically! Stunning 91-acre land aggregation in New Hanover County with 16-acre +/- lake. Opportunity to add another 20+/- acres with 1000' road frontage - see agent for details. 75%+ uplands (other than lake). Access to property off Dairy Farm (potentially, would require easement or purchase of adjacent parcel), Blue Clay/Woodhaven Dr. Ideal for single family, townhome, multifamily, mixed use. Currently zoned R-15, property can accommodate approximately 220 lots. NHC has been open to substantially higher density/mixed use options. Asking $30,000/acre which equates to approx $12,000 per undeveloped lot using existing zoning. Supports single family homes from low/mid $200K sale prices, potentially higher prices for homes with lake view. Hydrants are at the site, but additional capacity will be required depending upon the scope of the project. Sewer cost will be updated later in 2020 as DR Horton is in the process of running water/sewer to another site on Sidbury. This will alleviate the need for a developer to run lines all the way to N College Rd, thus a substantial savings. Total of 5 contiguous parcels, with potential to add one additional 20+/- acre parcel at similar price/acre. This additional parcel would provide 1000' +/- frontage on Dairy Farm/Blue Clay Rd under separate listing. This acreage would likely add 50+/- additional home sites under current zoning. Easy access to Blue Clay, N College, Sidbury, I-40, I-140, and future Hampstead Bypass. |
Attachments & Media
Additional Details
| Nearest MSA: | Wilmington |
| County: | New Hanover |
| Taxing Authority: | New Hanover County |
| Tax ID/APN: | Multiple |
| Zoning: | R-15 |
| Property Visibility: | Excellent |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 9,272 | 35,240 |
| Median Age: | 37.3 | 36.49 |
| Households: | 3,570 | 14,022 |
Contact
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