1150 Garretts Way NE, Leland, NC 28451
$1,500,000
Property Type:
Comm Sale or Lease
Square Footage:
5,000
Lot Size (sq. ft.):
258,311
Status:
Active
Current Price:
$1,500,000
List Date:
10/15/2025
Last Modified:
10/16/2025
Description
Discover this rare, seller financing, investment opportunity just 8 minutes from the Leland Walmart and U.S. Highway 17 — ideally located in one of the fastest-growing corridors in coastal North Carolina.
Situated on 5.93 acres, this property currently includes 7 park-owned mobile homes, all tenant-occupied with long-term residents. Each home is separately metered for public utilities, providing steady cash flow and minimal management headaches. The park generates roughly $6,000/month in rent, with room for upside as current rents are below market — similar 2-bedroom units in the area rent for $1,000-$1,250/month.
With titles in hand and most units from the 1990s, this is a well-positioned, income-producing asset that also offers expansion potential. The land was once a 15-lot mobile home park, and with 5.93 acres of usable space, an investor could add additional homes and restore the park to its full capacity.
The owner currently carries general liability insurance and is responsible for yard maintenance, making this a smooth handoff for new ownership.
More Information MLS# 100536239
Building/Ext Features
# of Units: 7
Lot Acres: 5.93
Lot SqFt: 258311
Lot Dimensions: 328 x 674
Location Type: Mainland
Contract Info
Available Date: 2025-10-16
Delayed Marketing?: No
Sub-Type: Multi Family
Garage: N/A
Space: Yes
Sale/Lease: Sale
List Price/SqFt: 300
Stipulation of Sale: Standard
Status: Active
Marketing Start Date: 2025-10-15
Listing Price: 1500000
Current Price: $1,500,000
Location Information
City Limits: No
Marketing City: Leland
Secondary Subdivision: N/A
Street #: 1150
Street Name: Garretts
Street Suffix: Way
Post Direction: NE
County: Brunswick
State/Province: NC
Zip Code: 28451
Subdivision: Not In Subdivision
Geo Lat: 34.234605
Geo Lon: -78.051405
Remarks and Showing
Sign on Property: No
Directions to Property: From Hwy 17 - Turn onto Lanvale Road, go 2.6 mi, them make right onto King Rd NE. Go .21mi. parcel is on the right. From Hwy 74 - Take the Mt.Misery/Lanvale Rd NE Leland Exit. Go 1.33mi. Turn left onto King Rd NE. Go .21 mi. The parcel is on the right.
Building Info
New Construction: No
Legal and Taxes
Tax Assessed Value: 49270
Deed Book: 0
Deed Page: 0
Legal: T-3 5.93 Ac Strickland Estates Pl 26/306
Broker Owner: No
PID: 0370002402
Tax Identifier: 0370002402
Plat Book: 0
Plat Page: 0
Special Assessments: 0
Tax Year: 2025
Zoning: Co-R-6000
Cobra Zone: No
Business Type
Other: 1
Current Use
Mobile Home Park: 1
Multi-Family: 1
Sale/Lease Includes
Buildings: 1
Land: 1
Lot Description
Open Lot: 1
Wooded: 1
Heating System Fuel Source
Electric: 1
BuildingExt Features
SqFt - Heated (Primary): 5000
Property Features
Business Type: Other
Lot Description: Open Lot; Wooded
Current Use: Mobile Home Park; Multi-Family
Heating System Fuel Source: Electric
Listing Office:
East Atlantic Realty LLC
IDX
Last Updated: October - 16 - 2025
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