870 Nc-55 New Bern, NC 28562
This exceptional 32.62-acre parcel presents a remarkable opportunity for residential development in the thriving New Bern, North Carolina market. Located at 870 NC-55, Craven County, zip code 28562 (35.151901, -77.123354), this property is zoned R-6, allowing for significant density. Conceptual plans suggest the potential for up to 158 residential units, making it ideal for a build-for-rent community or a large-scale residential project. The land is conveniently situated within five miles of New Bern's largest employers, offering residents easy access to employment opportunities. Furthermore, its proximity to key infrastructure is a significant advantage. It's just six miles from the vibrant downtown New Bern area, three miles from Highway 70 (future Interstate 42), and three miles from the Craven County Industrial Park. Recreational amenities are also nearby, with Martin Marietta Recreational Park located only 3.5 miles away. Water and sewer services are readily available, streamlining the development process. New Bern boasts a strong population growth trend, making this a highly attractive investment prospect. The asking price for this prime development land is $865,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.