Exciting Land Opportunity in Corolla, North Carolina!
Curious about real estate adventures? Well, we’ve got some thrilling news straight from Corolla, North Carolina! A unique piece of land has hit the market that could turn out to be a real game-changer for developers and investors looking to make a mark in this beautiful beach town in the Outer Banks.
Unimproved Land with Ocean Access
Imagine owning the largest land listing of unimproved property with direct-Atlantic Ocean access in the Eastern U.S. That’s right! A total of 177 acres comprising five unique parcels are officially up for sale. Each plot is nestled just south of the popular Corolla area, making it a prime spot for potential buyers.
And wait, it gets better! These properties are approved for what’s called a “by-right development.” This means that the new owners could easily get started on building a whooping 1,250 hotel rooms, nearly 782 single-family homes, and around 428,000 square feet of commercial development. Just think of the possibilities!
Who’s Selling?
While the representatives from the brokerage firm listing the land, NAI Global, have opted not to disclose the exact seller or the asking price, we do know that this listing presents an extraordinary opportunity. According to the records from Currituck County, one of the biggest parcels alone spans over 76 acres and is valued at more than $22 million!
Interestingly, the owner is linked to Coastland Properties, a company based in Virginia Beach, Virginia, which has ties to the real estate investment firm Coastland Corporation. It seems like savvy business minds are behind this golden opportunity!
Endless Development Possibilities
Now, let’s think about what you could actually create here. With the options on the table, the future buyer could take the route of building exquisite exclusive family estates, luxurious resorts, or even income-generating commercial properties. Rarely do you find a land listing where all these development avenues are available at the same time! This truly sets it apart as a unique gem in the real estate market.
Modern Amenities for Developers
It’s also worth noting that NAI Global confirms municipal water and sewer services are available for each section of land, which range in size from about 5.31 acres to 82.64 acres. How convenient is that? Plus, some of these parcels sit right on the gorgeous Atlantic Ocean waterfront, offering stunning views and a desirable location for potential buyers.
For those interested in maximizing vertical space, the largest parcel has even received approval for a building height limit of 75 feet, while the others are capped off at 35 feet. So, whether it’s sprawling estates or high-rise hotels, developers might have plenty of room to grow!
The Future is Bright
Let’s not forget about the future infrastructure set to enhance this area’s accessibility. Nearby, the upcoming Mid-Currituck Bridge will span about 7 miles, creating a vital link between the mainland and the Outer Banks. This project promises to boost both tourism and property value, making it an even more exciting time for anyone considering investment here.
Making Waves in Real Estate
As Alex Waddey, president and CEO of NAI Global, said, “We don’t see many properties like this come to market, especially for a remarkable resort area of the U.S.” The window of opportunity is open, and for anyone looking to dive into a thriving real estate market in Corolla, North Carolina, this listing is one you shouldn’t overlook!
Whether you’re a seasoned developer or a newcomer exploring possibilities, the coastal charm combined with these exceptional land options could lead to transformative projects in Corolla. So, what do you think? Ready to make waves in real estate?
