257 Peiffer AveWilmington, NC 28409

Property Details for 257 Peiffer Ave

Lot size

7.10 AC

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 7.1-acre development site in Wilmington, NC, presents a rare opportunity to construct a 61-unit townhome community. Zoned R-5 (CD), the property is ideally situated at 257 Peiffer Ave, 28409, within New Hanover County. The project, known as Bradley Heights at Oleander, is currently undergoing Technical Review Committee (TRC) review, with final approval and permitting anticipated by April 2024. This significantly reduces development risk, as the majority of pre-construction groundwork is already complete. The thoughtfully designed courtyard-style community will feature a mix of duplexes, triplexes, and quadplexes, providing residents with a unique and tranquil living experience. This medium-scale development within Wilmington city limits offers a compelling investment opportunity, eliminating the complexities and uncertainties associated with rezoning. The site plan incorporates a best-in-class design, maximizing space and creating attractive green spaces within the courtyard. This turnkey project is poised for rapid advancement to the construction phase, making it an attractive proposition for home builders and townhome developers seeking a low-risk, high-reward venture in a desirable Wilmington location. The asking price for this prime development opportunity is $2,806,000.

Location Insight

City

Wilmington

County

New Hanover

State

North Carolina

Latitude

34.2052

Longitude

-77.8444

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