3 Bypass Ln - Commercial LAND FOR SALE


Chapel Hill, NC 27517- Chapel Hill East31,363 SF
$1,950,000-$3,900,000 USD
919-260-7059
3 Bypass Ln, Chapel Hill, NC for Sale
$1,950,000-$3,900,000 USD
Commercial LAND - FOR SALE
1/5
31,363 SF

3 Bypass Ln
Chapel Hill, NC 27517
Chapel Hill East


OVERVIEW

Two contiguous parcels totaling 0.72 acres, offered together as a single assemblage and not divisible. Both lots are improved with 1950-era single-family homes at the end of useful life; the value is in the land and the entitlement. Both parcels must be bought together for a sale price of $1,950,000 This is a by-right site. WX-7 under the Blue Hill Form District permits seven stories and 90 feet with no units-per-acre density cap, side and rear setbacks of 0 or 5 feet, and no inclusionary housing requirement. The Enhanced Development Option exempts the site from the Resource Conservation District, site plan review, and LUMO stormwater standards. Residential use requires a minimum 10% non-residential floor area, and new construction requires a Certificate of Appropriateness. No rezoning, no conditional use permit, no legislative hearing. Infrastructure is in the ground: a sewer main along the rear, an 8-inch water main tap on the south side, and a prior easement released. No fee right-of-way was taken in the 2021 Elliott Road Extension, and the Town dedicated new public frontage along the south line. The site is Zone AE with a published base flood elevation of 262.4 — a detailed FEMA study with a mapped floodway and mean velocity of 2.3 ft/sec, buildable above BFE with parking at grade. A recorded temporary crane swing easement in favor of the adjacent project pays $2,000 per month, runs with the land, conveys at closing, and expires March 2028. Offers not contingent on governmental approvals are encouraged. Because the site is zoned by right, there is no approval to wait for — the remaining questions are engineering and cost, and the diligence package has been assembled so those can be answered before an offer rather than after.

FOR SALE DETAILS

PRICE

$1,950,000-$3,900,000 USD

PRICE/ACRE

$5,416,667/AC

PRICE/SF

$124 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

Chapel Hill Land Re-Development

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Commercial, Retail, Multi-Family

LAND ACRES

0.72 AC

LAND SF

31,363 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Streets

ZONING

WX-7

APN/PARCEL ID

9799340349,9799340467

ASK ABOUT THIS PROPERTY

Chela TuBold Commercial Real EstateMore Info
919-260-7059

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Chela TuBold Commercial Real EstateMore Info
919-260-7059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.