Greenville Land for Sale

Greenville Land for Sale

Welcome to Greenville, North Carolina – a vibrant city that beautifully marries Southern charm with modern conveniences. Nestled in Pitt County, Greenville is not only known for its rich history and friendly community but also as a hub of education and healthcare, thanks to the presence of East Carolina University and Vidant Medical Center. With a population that thrives on diversity, Greenville boasts a lively arts scene, delicious culinary offerings, and an array of outdoor activities, making it an ideal place for families, students, and retirees alike.

If you’re dreaming of building your own sanctuary in this picturesque area, we have exciting land for sale that could turn that dream into a reality. Imagine waking up to the serene landscapes of Pitt County, with easy access to the charming downtown area, where you can enjoy local shops, farmer's markets, and parks. Our available plots offer ample space for your vision, whether it be a cozy family home, a modern retreat, or even a thriving business venture.

Greenville’s commitment to community and growth ensures that your investment in land here is not just a purchase, but a step towards a fulfilling lifestyle. With a welcoming atmosphere and a range of amenities, you’ll find that this city offers everything you need to create lasting memories. Don’t miss the opportunity to own a piece of this beautiful region. Explore our listings today and take the first step toward your new life in Greenville!

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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