Current Use by Public Records
- Apartment buildings
Property Details for 0 Gray Fox Rd
- Lot size
- 36.42 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 240-unit apartment building situated on a substantial 36.42-acre lot in Havelock, North Carolina. The property, classified as Class A, is zoned RM and boasts a prime location just one block from US Highway 70 East, offering convenient access to the Atlantic Ocean towns. The site is strategically positioned near Cherry Point Marine Corps Air Station, benefiting from the consistent demand for housing driven by the base's expansion and the influx of active-duty personnel and civilian contractors. The property's proximity to New Bern and Morehead City further enhances its appeal. Approximately 18 acres are designated for multifamily development, allowing for the construction of a 240-unit apartment complex with amenities or single-family homes. An additional 6.4 acres are located in Railroad Row, while a 6.6-acre parcel on the opposite side of the railroad tracks lacks legal access. The seller is currently developing self-storage units on adjacent light industrial lots. Utilities including water, sewer, and electric are readily available on Belltown Road. The property is across the street from the Fox Ridge Court subdivision. The Craven County location offers a substantial population base of 100,874 residents. This presents a compelling investment opportunity in a high-demand area experiencing significant population growth and a strong need for multifamily housing. The property's APN is 6-057-004. The asking price is $1,700,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Havelock
- County
- Craven
- State
- North Carolina
- Longitude
- -76.9091
- Latitude
- 34.868
