48.12 acres Morris Mill Rd Residential LAND FOR SALE


Millsboro, DE 19966 2,096,107 SF
$4,400,000 USD
302-542-0900
, Millsboro, DE for Sale
$4,400,000 USD
Residential LAND - FOR SALE
1/3
2,096,107 SF

48.12 acres Morris Mill Rd
Millsboro, DE 19966


HIGHLIGHTS

  • Rural but not far from major shopping and beaches
  • Adjacent community w/ .5 to .75 acre lot home packages
  • Nearby single family home price is over $700k
  • Sussex County is the fastest growing region East of the Mississippi.

OVERVIEW

Investor Alert: Buy and hold with Artesian coming soon to supply central utilities. Best to coordinate development with the utility company. Cash discount of $400k off asking price if Buyer settles within 12 months of purchase contract. Soil studies, boundary survey and over 1000 feet of road frontage Adjoining property lot/home values are in the high 700's Zoning allows 2.2 units to the acre by right. With central utilities, it could be higher. Potential for Affordable Housing and or Workforce Housing density credits as the property is near the Town of Millsboro which is rapidly growing. Currently a recent timber report is included which shows high value selection of trees. US government is increasing timber production mandates.

FOR SALE DETAILS

PRICE

$4,400,000 USD

PRICE/ACRE

$91,438/AC

PRICE/SF

$2 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

48.12 acres Morris Mill Rd

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Residential

LAND PROPOSED USE

Master Planned Community

LAND ACRES

48.12 AC

LAND SF

2,096,107 SF

OFFSITE IMPROVEMENTS

-

ZONING

AR-1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Sandra WareBHHS PenFed RealtyMore Info
302-542-0900

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Sandra WareBHHS PenFed RealtyMore Info
302-542-0900

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