Property Listing No Longer Available for Sale

160 Broad River Highland Dr.

Mooresboro, NC

Multi-family for Sale - $750,000 - 142 acres


Property Info

CIMLS#780852
Location
  160 Broad River Highland Dr.
  Mooresboro NC 28114
UpdatedSeptember 14th, 2015
TypeMulti-family
Price$750,000
Land142 acres

Property Description

The developments consists of:

" 142.58 acres with 63 Lots ranging in size from 1 acre to 11 acres per lot.

" Proximity to closest airport, big box outlet mall, fast food restaurants, grocery store, church, hotel, riding, golf activities etc are all attached and less than 5 to 25 miles away.

" All roads and services are already in with very little future infrastructure costs involved.

" Taxes are low ($24,079 annually), condo fees are even lower ($6,300 annually) and therefore carrying costs are excellent. See attached schedules.

" We have prepared a projected budget with absorption of 18 lots per year at a sale price of $30K per lot sales. (20% of costs, and developer profit has been deducted)

" 40 houses are already built. Most lots were purchased in 2008 with prices ranging with prices ranging from $40K to $150K per lot.

" We have attached a site plan showing of sold and available lots on the plan. The highlighted yellow indicates sold lots.

The subject property consists of 63 lots within an approved single-family residential subdivision known as the Broad River Highlands.

All horizontal improvements (streets & utilities) for the subject lots are complete.

The lots range in size from 0.89 acres to 11.64 acres, with an average lot size of 2.22 acres.

Public utilities are connected to the site including water, underground electric, and telephone.


Financials