Great Investment Opportunity with 1,600 residential acres with an Active Zoned Planned Unit Development in the City of Foley. Has 2,000 +/- feet on the east side of the Foley Beach Express with a double crossover and a 9-acre parcel on the west side. There are 19 contiguous parcels. There is a current Phase I Environmental Report & Certified Survey. Current use is agricultural crops leased on an annual basis w/$160,000.00 income. There are approx 80-acres in the Opportunity Zone. Can be sold in 40-acre tracts!!! Approved for 6,400 residential units on the 1,600-acres. There is an additional 167-acres available zoned Commercial where you could build a total of 7,068 units. The price for the 1,767-acres is $11,995,000.00. The 1,600 residential acres PPIN's are 287299, 287301, 306989, 299700, 61013, 274828, 274829, 274830, 303406, 72578, 299697, 74712, 35617, 299696, 287300, & 287302. The 167 commercial acres PPIN's are 274831, 274832 & 74711. Total Property Taxes for Residential & Commercial are $3,239.18
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Listing information last updated on December 11th, 2019 at 1:30pm CST.