Mallard Creek Apartment site

Vacant Land for Sale
Catylist Listing ID: 30268111
Property Subtypes: Multi-Family
Gross Land Area: 20.48 Acres
Sale Price: $1,750,000
Unit Price: $85,449 Per Acre
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 9/18/2018

Overview / Comments

This 20+ acre parcel is uniquely situated for successful multi-family developing for a variety of reasons:
1) already zoned for 216 units
2) immediately adjoining Gray’s Creek High School, one of Cumberland County’s higher rated schools
3) Seller offers a preliminary plat with one primary street containing 9-ea 3-story, 24-unit buildings as well as a clubhouse and pool – the one road follows the high ground and should result in a highly efficient development outlay
4) The community surrounding this site is a proven residential success with commercial support both established and expanding to support the residential community
5) Access to I-95 is a few minutes away
6) Primary access to the apartment site is controlled by a full service stop light at the closest intersection
7) All public utilities are to the site presently

Additional Details

Nearest MSA: Fayetteville
County: Cumberland
Taxing Authority: Cumberland County
Tax ID/APN: 0422-76-7202
Zoning: R6
Property Located Between: Gray's Creek High School and Chickenfoot Rd
Property Visibility: Good
Legal Description: 20.48 ACS MCFADYEN & WMS LD
Largest Nearby Street: Chickenfoot Rd
Feet of Frontage: 283
Highway Access: Apartment complex would open onto Celebration Drive, turn right onto Chickenfoot Rd and go less than a mile to I-95
Airports: FAY
Site Description: Currently wooded with a curb cut already paved on Celebration
Area Description: This land is immediately adjacent to Grays Creek High School and high-density residential. It is a highly coveted multi-family site
Lot Frontage: 283
Lot Depth: 2600
Zoning Description: High density multifamily
Development Name: Mallard Creek
Topography: Gently Sloping
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 10,887 48,506
Median Age: 35.69 33.93
Households: 3,855 17,446
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.