1123 Church Street
Land | 1.22 acres
Marketing description
Discover an exceptional investment in the heart of Morrisville's thriving residential market! This 1.22-acre (53,143 sq ft) parcel at 1123 Church Street offers level terrain, paved road frontage along Church Street, and readily available utilities including water, sewer, and electricity. Zoned Low Density Residential (LDR), the property supports up to 5 dwelling units based on a maximum density of 4.5 units per acre, making it ideal for single-family homes, multi-family buildings, or a mix of both.
Investment highlights
Strategically located in a prime suburban area near the Research Triangle Park (RTP), this site benefits from surging demand for quality housing in Morrisville and surrounding communities. The local market is strong and stable, with single-family homes selling in the neighboring Providence Place selling between $650k-$850k (typically 2,300-4,300 sq ft, $256/sq ft).
Development potential is outstanding: Subdivide into five lots for single-family detached homes (each ~10,500-11,000 sq ft with 60-70 ft frontage) or three 4-unit multi-family units.
For even greater upside, consider rezoning to Medium Density Residential (MDR), which could increase density to 7.5 units per acre (up to 9 units total) and allow single-family attached dwellings like townhomes. Surrounding properties are already zoned MDR, supporting this rezoning process. Other potential uses are a conditional rezone for a senior living facility or day care. Inquire with Morrisville planning department for more information on rezoning process and potential uses.
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