Greenville Land for Sale

Greenville Land for Sale

Welcome to Greenville, North Carolina – a charming city that perfectly blends Southern hospitality with modern conveniences. Nestled in Pitt County, Greenville is known for its vibrant community, rich history, and an array of recreational opportunities. With a population of over 90,000, it serves as a cultural and economic hub in the region, boasting a lively downtown filled with unique shops, delectable restaurants, and a thriving arts scene.

Greenville is home to East Carolina University, which infuses the city with youthful energy and a diverse population. The university not only enriches the local culture but also contributes to the city’s strong economic foundation. Residents enjoy a variety of outdoor activities, from exploring the scenic Tar River to strolling through the beautiful parks and green spaces that dot the city.

For those seeking to invest in their future, we have an exciting opportunity for you: land for sale in this flourishing area. Imagine the possibilities of building your dream home or developing a business in a city that’s on the rise. With its affordable land prices and a welcoming community, Greenville offers an ideal setting for both new and seasoned investors.

Whether you’re looking to settle down in a family-friendly neighborhood or explore the potential for commercial development, Greenville has something for everyone. Don’t miss out on the chance to be part of this growing city. Explore our available land options today and take the first step toward your Greenville adventure!

Newest Greenville Land for Sale

$115,000
100576174 MLS
Parcel 23817 contains +/- 38 acres (per my measurement of the aerial tax map) of woodland on the north and the south side of the I 587 corridor. The acreage on the north side of the I 587 W corridor has access via Silas Lane, a gravel private right of way, and is in the Greenville ETJ. It is zoned RA 20 for low density residential use. The property owner reports the cell tower has been purchased by Crown Castle Towers 09, LLC and the site is no longer leased. The south side contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. The most recent lease renewal became effective on June 17, 2019 for a 10-year term. The lease specifies an automatic 10-year renewal at the same terms and conditions. Thus, the lease is relatively long-term with approximately 14 years remaining on the term. Owner reports that the annual rent is $2,000. No rent escalations are specified in the lease agreement. The Lessee has the Right of First Refusal to purchase the billboard site if the Lessor elects to sell the property. The Lessee also has the right to purchase a perpetual easement for the billboard site for 6 times the annual rent or $12,000 if the Lessor opts to sell the property. The Lessee also has the right to terminate the lease at lease at any time by providing written notice. Nevertheless, the lease is expected to be renewed for the foreseeable future. The value of this lease is calculated by discounting the income stream to present value. A 6% discount rate is used in this analysis since this rate appears to be appropriate in the current market. The present value factor for an ordinary level annuity at a 6% discount rate for a 14-year term is 9.294984. Thus, the present value of the $2,000 annual income stream is $18,589.97. The legal description is outdated as well as the acreage for the property on the county tax site from where I 587 passed through decades ago. It will be the buyer's responsibility to obtain a survey for title insurance.

1901 I 587, Greenville

Listing courtesy of Listing Agent: The Tingen Team () from Listing Office: Berkshire Hathaway HomeServices Prime Properties.

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