225 Valencia Court

This 1.45 Acres tract is zoned MD-17 (see link for City of Wilmington Land Development Code), which allows the construction of up to 25 units for sale or for lease. This property is a pad site with water, sewer, stormwater, parking, and sidewalks; access to be negotiated to the property pool. Property has the right to or not to participate in the HOA. This property is located off of Independence Blvd, just south of the new Harris Teeter at Carolina Beach Rd. and Independence Blvd. This Property has access to the Cross City Trail and is in proximity to the Point at Barclay, River Lights, Cameron Art Museum, and Independence Mall. This property is not on public transportation. Documents on hand to speed up the due diligence process are limited to: Title Documents, HOA. Buyer is responsible for a new wetlands evaluation if they intend to expand the building footprint or adjust the density. Asking Price is $34,000.00 per unit (25). Prior plans had called for a complimentary building with 18 units in it. Current buyers purchased the property in 2015 from a lender and have a special warranty deed on the asset. Property is ready to go for TRC approval on construction documents. We recommend all potential buyers confirm the higher potential density when they create a site plan/construction plan. Parking at 2 vehicles per unit would allow for 'by right' access to 36 spaces at the property.