Listed by Foundry Commercial Raleigh
Unpriced
Harper Preserve
Details
APN 1754605787
Property Type Land
Acreage 94.090
Zoning NMX-PUD & GR-3
Investment Type Redevelopment
Land | 94.09 acres
Marketing description
Foundry Commercial, a North Carolina Broker, Has Been Retained as The Exclusive Agent for The Owner of Harper Preserve (the "property"), a Shovel Ready Residential Development Opportunity Offering 231 Paper Lots Consisting of 144 Single-Family Detached Lots and 87 Townhome Lots. Harper Preserve, Located Just Two Minutes from Downtown Knightdale, Provides a Unique Opportunity to Capitalize on A Rapidly Growing Submarket with Speed to Vertical Development. Ownership Has Obtained Fully Approved Construction Drawings Which Include Two Types of Single-Family Detached Product (60' X 120' Lots and 38' X 110' Lots) and Townhomes (22' X 110' Lots). Over the Past Three Years, the Seller Has Secured a Fully-Approved Site Plan and Construction Drawings with Nearly All Land Development Permitting Currently In-Place. with The Existing Approvals in Place, Harper Preserve Provides a Significantly De-Risked Site and Allows for Immediate Horizontal Development for A Rare Shovel-Ready Development Opportunity with Water and Sewer Capacity in The Town of Knightdale.
Harper Preserve Allows Developers and Homebuilders the Opportunity to Capitalize on An Incredibly Strong Residential Sales Market Fueled by A Lack of Re-Sale Supply. Due to Long Approval Timelines, Sites of Sufficient Size Located Within the Town of Knightdale with Available Utilities and Entitlements Are Increasingly Rare. This Is Evidenced by The Over 241 New Construction Single-Family Sales Within 3 Miles of The Site in The Last 12 Months with Prices Averaging $510,303. in Addition, There Have Been Over 41 New Construction Townhome Sales Within Three Miles of The Site in The Last 12 Months with Prices Averaging $355,024. Nearby Communities Have Maintained Robust Sales and Absorption with Wendell Falls Selling Over 13 Homes per Month and Nearby Haywood Glen with Over 4 Sales per Month, in The Last 12 Months.
Supported by A Rapidly Growing Knightdale Location, Harper Preserve Is Located Just 2 Minutes from Downtown Knightdale, 2 Minutes from The 1-87 (72,000 Vpd)/smithfield Road Interchange (8,800 Vpd), 17 Minutes from North Hills, and 18 Minutes from Downtown Raleigh. with The In-Place Entitlements, Excellent Knightdale Location, and Proximity to Amenities and Major Employment Centers, Harper Preserve a Truly Unique Opportunity to Capitalize on A Rapidly Growing Knightdale Submarket.
Investment highlights
- Substantially de-risked site with full approvals in a historically challenging submarket
- Shovel-ready development with 231 total lots (144 single-family and 87 townhomes)
- Unique lot mix with 60' x 120' and 38" x 110' single-family detached lots and 22' x 110' townhome lots
- Water and sewer allocation for the development
- Strong growth market with over 241 new construction single-family sales (average price of $510,303)
- and 41 townhome sales (average $355,024) within 3 miles in the last 12 months
- Located just two minutes from 1-87 and Downtown Knightdale
Listing Contacts
Listed by Foundry Commercial Raleigh
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Zoning
RX-3 MixedMixed UseResidential Mixed Use
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