John Bergin, CCIM John@Waterstonemfg.com 704-804-3342
Brent Kubitschek Brent@Waterstonemfg.com 919-429-9694
Waterstone Multifamily Group is pleased to present this land development opportunity in Fayetteville NC.
ASKING PRICE: $1,000,000
Property details include:
- 6.44 acres
- Parcel ID: 0418-65-7944-
- Zoned R5-CZ
- Development potential for 141 units
- 2 Buildings
- 4-5 Stories
- Gated entry
- Brick or Stucco exterior
- 12 minutes from Fort Bragg
- 2.8 miles from Lowes, Barnes & Noble, AMC movie theater and the Cross Creek Mall; and 1.1 miles from Sycamore shopping center
- 2.5 miles from Interstate-295, and 1.6 miles from All-American Freeway
- 4 miles from nearest High school, Middle school, and Elementary school
Since the election of the new Administration in 2016, there has been a renewed focus on Defense spending and military preparation efforts at a national level. Military is a market segment that has seen a relative lack of investment and development of new inventory in recent years compared to primary markets. As these markets continue to experience cap rate compression and face the possibility of over-development and decrease in absorption rates in the near-to-midterm horizon, Fayetteville, as the home of the largest military base in the world, presents an opportunity to capitalize on these emerging trends. For example: In the National Defense Authorization Act [NDAA] for 2019, Fort Bragg was allocated $42,000,000 for base expansion projects and new construction funding, and service members nationwide received a 2.6% pay raise.
Other
- Area: Fayetteville
- Acres: 6.44
