Fall Branch Estates | Murphy NC
MLS 3652404 | $2,950,000 | +- 668 Acres | Rare Opportunity
A rare large tract opportunity on the market, Fall Branch Estates presents the savvy investor or partnership many options to realize significant long-term value. This offering includes 154 platted lots spanning 143 acres, with the remaining acreage reserved for future phases (~250 lots possible), or conservation easement options for appealing tax benefits. There are nine miles of roads graded within the development with multiple gated access points. For utilities, a developer can choose to utilize individual septics, or connect to ~5 miles of pressurized, municipal water and sewer lines that have been run to the property. A lift station was installed on a one-acre riverfront parcel at the property base, with capacity for the long-term plans. A 250,000 gallon water tank exists on site. Underground electricity in place. The property directly borders the new Harrah’s River Casino. Conveniently located only 5 minutes from Murphy, and less than 2 hours from Atlanta GA, Asheville NC, Knoxville TN, and Chattanooga TN.
The potential uses for this property are many. Continue developing as a mountain home community, or re-position sections of the community to provide desperately needed affordable housing units to the area. Building rental units, either long-term or short-term, would create long-term cash flow opportunities. A private estate protected by hundreds of acres of beautiful mountain land would be an excellent use. Much of the undeveloped land could be placed in conservation to unlock tax incentives. With the location so near Downtown Murphy, a trail system with land trust involvement would benefit both the community and environment. Any combination of these uses can be employed by a new owner to create a magnitude of upside potential. Excellent 1031 exchange or land bank opportunity.
Contact Collin O’Berry of the Altamont Property Group today for more information today. altamontpropertygroup@gmail.com or 828-782-5882.
Co-listed with Jonathan Tharp of Keller Williams Great Smokies. tharp.broker@gmail.com or 828-200-7004.
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