Greenville Land for Sale

Greenville Land for Sale

Welcome to Greenville, North Carolina – a vibrant city that beautifully blends Southern charm with modern conveniences. Nestled in the heart of Pitt County, Greenville is not just a place to live; it's a community that thrives on its rich history, cultural diversity, and a strong sense of belonging. Known for its warm hospitality, Greenville offers a delightful mix of urban amenities and picturesque landscapes, making it an ideal location for families, young professionals, and retirees alike.

Greenville is home to East Carolina University, which infuses the city with youthful energy and a dynamic arts scene. The downtown area boasts an array of local shops, restaurants, and entertainment venues that cater to every taste. Whether you’re enjoying a leisurely stroll along the scenic Tar River or exploring the numerous parks and recreational facilities, you’ll find that Greenville is a city that encourages an active and fulfilling lifestyle.

For those considering a new beginning in this charming city, we have exciting land for sale that presents an incredible opportunity to build your dream home or invest in a promising future. Imagine designing a custom residence in a community that values growth and innovation, all while being surrounded by the natural beauty that Greenville has to offer. With easy access to major highways and a thriving local economy, this land provides a perfect foundation for your aspirations.

Don’t miss your chance to be part of Greenville’s bright future. Explore our available land for sale today and take the first step towards creating a life you love in this welcoming city!

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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