Not In Subdivision Homes with Falkland Elementary School Elementary school

Not In Subdivision Homes with Falkland Elementary School Elementary school

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Newest Not In Subdivision Homes with Falkland Elementary School Elementary school

$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 The legal description is outdated as well as the acreage for the property on the county tax site from where I 587 passed through decades ago.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

$890,000
5 Beds 4 Baths 100490328 MLS
Discover this beautiful estate outside of city limits and only minutes from Greenville! This private 11.24 acre estate includes SIX structures; grand 5 bedroom primary home, guest house with garage, large steel barn, greenhouse, and a shed with an abundance of outdoor space, including an orchard and garden. Main house highlights fresh paint, 5 bedrooms, 4 baths, which includes 3 suites. Primary suite along with additional suite, and guest bedroom are located on the main level, plus a third suite and guest bedroom upstairs. Expansive living room with gas logs and a family room with a wood-burning fireplace. Formal dining and extra-large kitchen are perfect for entertaining! Relax in the bright and airy Carolina room with a mini-split for year-round comfort. Upstairs you will find the walk-in attic which offers room for storage and opportunity for additional heated square footage, if desired. For safety, there are 2 fire escape ladders upstairs. Concrete patio for outdoor gatherings, beautiful orchard with grapes, apples, cherries, pears, blackberries, raspberries, and figs. Spacious garden area for fresh produce and flowers. Huge steel, outdoor shed with concrete floor and electricity, storage barn, and greenhouse. Guest house offers an additional 918 square feet with a living room, full kitchen, bath, and bedroom. Attached garage gives extra storage space to this guest area as well. Ideal for extended family, visitors, or rental income. Access to well water & county water, generator on sight. This peaceful, country estate is just 15 minutes from ECU Health with easy access to restaurants, shopping, and city conveniences!

7464 Nc 43 N, Macclesfield

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