Approximately 45.2 acres zoned C-LD/R7500 with over 350 feet of road frontage on Hwy 17 (Ocean Highway) in unincorporated Brunswick County. Proximity to fast growing Shallotte is ideal for combination of residential and/or commercial development. Based on market demographics and recent transactions in the immediate area, a built-for-rental community (BFR/SFR) may be highest and best use. Utilities are at the highway - buyer will need to consult with Brunswick County Utilities to confirm accessibility/capacity for their project. Pricing is based on density assuming existing zoning. C-LD allows for 7.3 single family/townhouse residential units/acre (with water/sewer) and 14 units/acre for multifamily. Offering includes 3.12 acres zoned C-LD. R7500 allows for 2.9 units/acre without water/sewer and 5.8 units/acre with water/sewer. Offering includes 42.08 acres zoned R7500. Link to Brunswick County UDO is part of this listing. Based on the acreage being offered, this would amount to a maximum of 287 units on 45.2 acres or $4,529/developed unit/lot with water/sewer. If buyer chooses to put multifamily in the C-LD portion, it could support 43 units on the 3.12 acres with highway frontage (approximately $7,650/door), while the R7500 section can provide 244 single family/townhouse units. Most new construction single family and townhomes in the area are selling for $280,000 to $350,000. Rental rates for similar products ranges from $1,350 - $2,600/month.
MLS# | 100416164 |
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Listing Type | For Sale |
Sub-Type | Resale |
Status | Active |
Days On Site | 323 |
Listing Provided By | Berkshire Hathaway HomeServices Carolina Premier Properties | Phil Marion |
Zoning | CLD |
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Acreage | 45.20 |
State | NC |
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County | Brunswick |
City | Ocean Isle Beach |
Zip Code | 28469 |
Area | Brunswick |
Community Name | Not In Subdivision |
School District | Brunswick County Schools |
Listing VS Median (in Not In Subdivision) | |
Price: $1,100,000 low | high Med: $274,900 On Site: 323 low | high Med: 36 |