5503 Myrtle Grove Road, Wilmington, NC 28409
$1,900,000
Property Type:
Land
Lot Size (sq. ft.):
609,840
Status:
Closed
Current Price:
$1,900,000
List Date:
3/24/2023
Last Modified:
9/05/2023
Description
14+/- Acres now available for purchase on Myrtle Grove Road. This multi-parcel opportunity includes the locally renowned workshop of T.N Simmons, founder of the famed Simmons Sea Skiff. Tract includes (6) parcels providing approximately 14 Acres and 547Ft of direct frontage along Myrtle Grove Road. Existing structures: 3BR/1BA residential dwelling; 2BR/1BA residential dwelling; Three woodworking shops; One glassmaker shop. Total existing leases gross over $50,000 annually. New Hanover County Zoning is currently R-15. Maximum development yield may be achieved through NHC ''performance residential'', allowing 2.5 Units per Acre.
More Information MLS# 100375774
Contract Info
Delayed Marketing?: No
Sub-Type: Residential Land
Auction: No
List Price/Acre: 156428.57
Stipulation of Sale: Standard
Status: Closed
Marketing Start Date: 2023-03-24
Listing Price: 2190000
Current Price: $1,900,000
Location Information
City Limits: No
Marketing City: Wilmington
Secondary Subdivision: N/A
Street #: 5503
Street Name: Myrtle Grove
Street Suffix: Road
County: New Hanover
State/Province: NC
Zip Code: 28409
Subdivision: Not In Subdivision
Geo Lat: 34.134601
Geo Lon: -77.876755
Remarks and Showing
Sign on Property: Yes
Directions to Property: From the intersection of Piner Rd, S College Rd, and Carolina Beach Rd, take Piner Rd. Turn left onto Myrtle Grove Rd. Properties will be on the right, before the Grissom Rd intersection
Property Exterior Info
Acres - Total: 14
Lot Dimensions: Various
Lot SqFt: 609840
Deed Restriction: No
Waterfront: No
Total Road Frontage: 547
Waterview: No
Location Type: Mainland
Legal and Taxes
Tax Assessed Value: 1502700
Deed Book: 6493
Deed Page: 56
Legal: See attached docs for additional parcels
Broker Owner: No
PID: R07616-003-002-001
Tax Identifier: R07616-003-002-001
Plat Book: 0
Plat Page: 0
Special Assessments: None
Tax Year: 2023
Zoning: R-15
HOA: No
Cobra Zone: No
Elementary School: Bellamy
Middle School: Myrtle Grove
High School: Ashley
Bldgs on Property
See Remarks: 1
HOA and Neigh Amenities
No Amenities: 1
Soil Evaluation
Soil Evaluation - No: 1
Frontage Type
See Remarks: 1
Topography
Cleared/Partial: 1
Terms
1031 Exchange: 1
Cash: 1
Conventional: 1
Fuel Tank
None: 1
Environmental Hazard
Unknown: 1
Road Type/Frontage
Public (City/Cty/St): 1
Status Change Info
Under Contract Date: 2023-04-25
Sold Price: $1,900,000
Sold Date: 2023-08-16
Property Features
Bldgs on Property: See Remarks
Soil Evaluation: Soil Evaluation - No
Frontage Type: See Remarks
Topography: Cleared/Partial
Fuel Tank: None
Environmental Hazard: Unknown
HOA and Neigh Amenities: No Amenities
Terms: 1031 Exchange; Cash; Conventional
Listing Office:
Hardee Hunt & Williams
IDX
Last Updated: September - 05 - 2023
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