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$1,300,000
45.2± Acres
Active
Brunswick County, NC

Ocean Highway West, Ocean Isle Beach, North Carolina

MLS ID: 100416164
Status: Active
Price: $1,300,000
Acres: 45.2±
Type: Land
Address: Ocean Highway West
City, State: Ocean Isle Beach, NC
County: Brunswick County
ZIP Code: 28469
Parcel Number: 2120002110

Description

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.

Directions: Highway 17 South towards South Carolina. Pass old Shallotte Rd NW and the property is about a mile on the left hand side.

Additional Information

Exterior

Lot Size Area: 45
Lot Size Square Feet: 1,968,912
Road Surface Type: Paved

Financial/HOA/Schools

Association (Yes/no): Yes
Association Amenities: No Amenities
Days On Market: 23
Elementary School: Union
Middle School: Shallotte
High School: West Brunswick
Subdivision Name: Not In Subdivision
Tax Annual Amount: 138.48
Zoning: CLD
Doug Moore

Doug Moore

Lillington, North Carolina

(919) 291-6390

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Listed By: Phil Marion of Berkshire Hathaway Homeservices Carolina Premier Properties