$1,500,000
Misty Grove | Lake Oconee Area 132 Lot SFR Development Tract w/ Sewer! At $11,364 per lot (raw), this one is certainly worth a look.
Offering includes approximately 64.94 acres and 132 remaining residential lot opportunities consisting of 1 vacant developed lot in Phase 1, 32 fully engineered Phase 2 lots currently submitted for approval, and 99 future Phase 3 lots shown on the approved master concept plan. The original multi-phase concept was approved with the 2008 rezoning. Phase 1 is fully developed with homes built and sold on 51 of 52 lots, providing proven neighborhood acceptance and direct resale history. Most Phase 1 homes were constructed from 2019-2022. The last new home sold in 2022 for $240,000, with subsequent neighborhood resales ranging from approximately $254,000-$299,000.
A recent 5-mile market study of single-family homes priced from $200,000-$400,000 shows 67 closed sales during the prior 12 months, with a $352,145 median sale price, approximately $175/SF median sale price and 44 median days on market.
The property is zoned RM-3 with a 1,000 SF minimum home size. Phase 2 lots average approximately 0.23 acre. Water and sewer are served by Piedmont, power by Tri-County EMC, and high-speed internet options include Sparklight fiber and AT&T Air.
Misty Grove offers an attainable new-home opportunity minutes from Lake Oconee, Sugar Creek Marina, golf, restaurants, shopping and Lake Oconee Village/Publix. The anticipated target for new detached homes is approximately $285,000-$350,000, a price point within the broader Lake Oconee market that is in high demand.
Full civil plans, preliminary plat, concept plan, aerial overlays and due diligence package available upon request.
CL362414
MLS
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ACTIVE
Status
Misty Grove Ln, Eatonton
