Greenville NC Land and Lots for Sale

Greenville NC Land and Lots for Sale

$120,000
Parcel 23817 contains +/- 38 acres (per my measurement of the aerial tax map) of woodland on the north and the south side of the I 587 corridor. The acreage on the north side of the I 587 W corridor has access via Silas Lane, a gravel private right of way, and is in the Greenville ETJ. It is zoned RA 20 for low density residential use. The property owner reports the cell tower has been purchased by Crown Castle Towers 09, LLC and the site is no longer leased. The south side contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. The most recent lease renewal became effective on June 17, 2019 for a 10-year term. The lease specifies an automatic 10-year renewal at the same terms and conditions. Thus, the lease is relatively long-term with approximately 14 years remaining on the term. Owner reports that the annual rent is $2,000. No rent escalations are specified in the lease agreement. The Lessee has the Right of First Refusal to purchase the billboard site if the Lessor elects to sell the property. The Lessee also has the right to purchase a perpetual easement for the billboard site for 6 times the annual rent or $12,000 if the Lessor opts to sell the property. The Lessee also has the right to terminate the lease at lease at any time by providing written notice. Nevertheless, the lease is expected to be renewed for the foreseeable future. The value of this lease is calculated by discounting the income stream to present value. A 6% discount rate is used in this analysis since this rate appears to be appropriate in the current market. The present value factor for an ordinary level annuity at a 6% discount rate for a 14-year term is 9.294984. Thus, the present value of the $2,000 annual income stream is $18,589.97. The legal description is outdated as well as the acreage for the property on the county tax site from where I 587 passed through decades ago. It will be the buyer's responsibility to obtain a survey for title insurance.

1901 I 587, Greenville

$950,000
Exceptional 82+ acre property, including approx. 30 acres of productive crop land with the balance being approx. 20 year old natural growth and planted forest, primarily made up of loblolly pines. The open land is generally Exum fine sandy loam soils. The front 25 acres has been tested by a soil scientist who identified over 11 acres that meet requirements for a conventional/ shallow septic system. The 4+ acre field in the center of the property has not yet been tested, but consists of more of the Exum Series soils that also extend into several acres of the forest. Wide trails and lanes have been established throughout the property with plenty of evidence of a healthy wildlife population. None of the property lies within a flood zone. The back of the property extends across a wide open power line easement, providing long distance views without the maintenance. There are no deed restrictions on this property and no HOA. Pitt County has the property in the RA zoning for planning purposes. With nearly 1,200 feet of road frontage this zoning provides for a wide range of possible uses, with minimum residential lot sizes of 30,000 sf. Purchase to develop for others, keep it all for your extended family, or anything between. This property is currently situated in the popular Chicod School District and is a scenic 15 minute drive to all that Greenville and the surrounding areas have to offer. Call us for a copy of the soil test report, map and USDA soil map.

2364 Nc 102 E, Ayden

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Many Greenville area homebuilders that will build you a home in Pitt County would find this page of interest. I can help you choose the builder who matches up well with the type home you want.

As a rule of thumb, for total home price of 250,000.00 or less a lot price typically won't exceed 35,000.00 - 40,000.00. If your desired budget is less than 160000.00 a lot typically wont exceed 25,000.00. These are just "rules of thumb".

The below list are properties in the Greenville, Winterville and Ayden areas. For a larger search please use the "Create a Custom Search" box at the top of the page.

Gail Hanlon- REALTOR®