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0 Freeway Dr

8.38 Acres of Commercial Land Offered at £315,731 in Reidsville, NC 27320

Investment Highlights

  • Development Opportunity in growing area next to the Reidsville Goodwill Store! Priced to sell!

Executive Summary

8.38 +/- acres (per survey by Wilson Surveying, Inc. dated 9/16/14). Rockingham County records list the property at 9.39 acres. A copy of the survey is available if requested.
Zoned for a mixed use of Highway Business (HB), Conditional Use-Highway Business (CU-HB) and Residential (RA-20). The proposed uses would be a mix of commercial and residential or possibly all residential with a mix of single and multi-family or all multi-family.
The property is along the western outer loop, north of downtown Reidsville and adjacent to the Reidsville Goodwill Store on Freeway Drive (Business 29/87).
Water, Sewer and Electric are all along Freeway Drive.
The topography features gently rolling hills on land that was primarily used for agricultural purposes.
The surrounding area along Freeway Drive is mostly commercial uses. Older low-density neighborhoods existing to the east with one newer higher density single family neighborhood to the northwest. Apartment properties are to the north and south of the site making this property a prime location for apartments or other higher density residential use.
Rockingham County is now more viable and desirable for development as the infrastructure has been put in place and lower tax rates make it more affordable than other locations in the Triad area. Reidsville has all of this while still maintaining a rural charm.
An appraisal was done in 2014 by Foster Appraisal Services, Inc. The current list price is well below the appraisal price.

Property Facts

Price £315,731
Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Mixed Use
  • Apartment Units
  • Single Family Development
Total Lot Size 8.38 AC

1 Lot Available

Lot

Price £315,731
Price Per AC £37,677
Lot Size 8.38 AC

The topography features gently rolling hills on land that was primarily used for agricultural purposes.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
175479
Land Assessment
£237,992
Improvements Assessment
£0
Total Assessment
£237,992

zoning

Zoning Code MIXED
MIXED
  • Listing ID: 15988763

  • Date on Market: 08/05/2019

  • Last Updated:

  • Address: 0 Freeway Dr, Reidsville, NC 27320

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