0 Smith Avenue

Shallotte, NC

Price $5,000,000
Acreage 32.18

Status: Active

MLS#: 100374559

Description

32.18 +/- acre commercial site located in the town of Shallotte in Brunswick County, NC. With access to US Highway 17 (via Smith Ave) which is the major North/South Highway and NC Highway 130 which goes to Whiteville and Holden Beach. This site is easily accessible for potential residents. This acreage presents an amazing opportunity for a developer to provide housing in Downtown Shallotte, NC. While there are Water, Sewer, Cable, Phone lines that run along Smith Ave, Tapping into those lines will require a potential purchaser to reach out to the Town of Shallotte and Brunswick County as the main Utility providers in the area. Items such as capacity and flow will need to be determined by a purchasers engineer based on purchasers use. ZONING: HB (17.28 AC), B2 (14.9 AC) Under the current zoning you would need a special use permit to build 4 units per acre in HB and 2 units per acre in B2. The current zoning does not reflect the properties highest and best use. To achieve the property's highest and best use a potential buyer should submit for a rezoning to Multifamily (MF-14). MF-14 with a special use permit, permits 14 units per acre. With the rezoning to MF-14 a buyer is looking at potentially 448 units. Initial feedback from the town staff has been positive as it relates to a rezoning. Brunswick County, NC is one of if not ''THE'' fastest growing county in North Carolina. Between 2010-2019 Brunswick Co. grew 32% leaving Brunswick's population totalling at 142,820. Brunswick Co. is home to 6 beaches across 5 barrier islands hosting many seasonal tourists. Shallotte is less than a 20-minute drive from Holden Beach, Ocean Isle Beach, and Sunset Beach.
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