Greenville Land for Sale

Greenville Land for Sale

Welcome to Greenville, North Carolina – a vibrant city that beautifully blends Southern charm with modern amenities. Nestled in Pitt County, Greenville is renowned for its thriving community, rich history, and flourishing economy. With a population that embraces both residents and students, thanks to the presence of East Carolina University, the city buzzes with youthful energy and cultural diversity.

Greenville's picturesque downtown area is a hub of activity, featuring an array of local shops, delightful eateries, and lively entertainment options. The city's commitment to green spaces is evident in its many parks and recreational areas, offering residents ample opportunities for outdoor activities, from biking along scenic trails to enjoying picnics in the park.

For those looking to invest in land, Greenville presents an exciting opportunity. With a variety of land for sale, potential buyers can find parcels suited for residential development, agricultural endeavors, or commercial ventures. The growing demand for housing and business spaces makes this an ideal time to secure your piece of Greenville. Whether you envision building your dream home, starting a new business, or simply investing in a piece of this thriving community, the land available in Greenville is ripe with potential.

Embrace the charm and opportunity that Greenville, NC, has to offer. With its welcoming atmosphere, robust economy, and beautiful landscapes, your investment in land here is not just a purchase; it’s a step toward a bright future in a city that truly feels like home.

Newest Greenville Land for Sale

$115,000
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

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