Pitt Homes with Other Lot Description

Pitt Homes with Other Lot Description

Welcome to Pitt County, North Carolina—a hidden gem brimming with charm, community spirit, and natural beauty! Nestled in the heart of Eastern North Carolina, Pitt County offers a delightful blend of urban conveniences and rural tranquility, making it an ideal place for families, retirees, and everyone in between.

Pitt County is home to the vibrant city of Greenville, known for its lively downtown area, rich cultural scene, and top-notch educational institutions, including East Carolina University. Residents enjoy a variety of recreational activities, from exploring the scenic Tar River to leisurely walks in the numerous parks that dot the landscape. With a warm climate and friendly community, Pitt County is a welcoming place that fosters a strong sense of belonging.

When it comes to real estate, Pitt County boasts a diverse array of homes, including those with unique lot descriptions that cater to various lifestyles. Whether you’re searching for a cozy cottage nestled on a spacious lot, a modern family home with expansive outdoor space, or a charming property that offers both privacy and accessibility, you’ll find it here. The homes in this area often feature lush gardens, serene surroundings, and ample room for outdoor activities—perfect for family gatherings, gardening, or simply unwinding in nature.

Discover the allure of Pitt County and explore the homes available that come with unique lot descriptions. Experience the perfect balance of community, convenience, and picturesque living in this wonderful corner of North Carolina!

Newest Pitt Homes with Other Lot Description

$115,000
100576174 MLS ACTIVE Status
Parcel 23817 contains +/- 38 acres (per my measurement of the aerial tax map) of woodland on the north and the south side of the I 587 corridor. The acreage on the north side of the I 587 W corridor has access via Silas Lane, a gravel private right of way, and is in the Greenville ETJ. It is zoned RA 20 for low density residential use. The property owner reports the cell tower has been purchased by Crown Castle Towers 09, LLC and the site is no longer leased. The south side contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. The most recent lease renewal became effective on June 17, 2019 for a 10-year term. The lease specifies an automatic 10-year renewal at the same terms and conditions. Thus, the lease is relatively long-term with approximately 14 years remaining on the term. Owner reports that the annual rent is $2,000. No rent escalations are specified in the lease agreement. The Lessee has the Right of First Refusal to purchase the billboard site if the Lessor elects to sell the property. The Lessee also has the right to purchase a perpetual easement for the billboard site for 6 times the annual rent or $12,000 if the Lessor opts to sell the property. The Lessee also has the right to terminate the lease at lease at any time by providing written notice. Nevertheless, the lease is expected to be renewed for the foreseeable future. The value of this lease is calculated by discounting the income stream to present value. A 6% discount rate is used in this analysis since this rate appears to be appropriate in the current market. The present value factor for an ordinary level annuity at a 6% discount rate for a 14-year term is 9.294984. Thus, the present value of the $2,000 annual income stream is $18,589.97. The legal description is outdated as well as the acreage for the property on the county tax site from where I 587 passed through decades ago. It will be the buyer's responsibility to obtain a survey for title insurance.

1901 I 587, Greenville

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