Homes for sale - 1901 I 587, Greenville, NC 27834

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sat

Sep

Sun

Sep

Mon

Sep

Barefoot-Chandler & Associates

barefootchandler@gmail.com +1(252) 222-4663

$ 45,000

Est. payment | -/mo

14.5 Acres Lot

Save

$ 45,000

Est. payment | -/mo

Save

14.5 Acres Lot

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

Subdivision Not In Subdivision

MLS Listing ID 100530173

Lot Size 14.500 Acres

Acres 14.5

Source Hive MLS

Property Description

Parcel 23817 contains 14.5 acres (per my measurement of the aerial tax map) that will be surveyed out of the main parcel. It is located on the south side of I 587 W. The +/- 14.5 acres on the south side of the I 587 corridor is landlocked and has no access. It is zoned RR for rural residential and/agricultural use by Pitt County. It contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. A billboard site on the south side of I 587 West is leased to the Lamar Companies. 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 present value of the $2,000 annual income stream is $18,589.9.

Location

State NC

County Pitt

Community Not In Subdivision

Zoning Res

Direction Right on Evans St, left on Dickinson Ave, right on Spring Forest Rd, Continue on Mozingo road turn left onto I587 W the land will be on the right side.

Location Details Mainland

Rooms

Other Rooms None

Exterior

Utilities Available None

Waterfront Description None

Building

Lot Description See Remarks

Sewer None

Water None

Schools

Elementary Schools Falkland Elementary School

Middle Schools Farmville Middle School

High Schools Farmville Central High School

Others

Tax ID 023817

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Hive MLS / (NCRMLS) / Cape Fear Realtors

Listed by Berkshire Hathaway HomeServices Prime Properties

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(252) 222-4663

barefootchandler@gmail.com

Learn More About LPT Realty