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- LoopNet Team
235 Mt. Hope Church Road
China Grove, NC 28023
Fully entitled shovel ready multifamily · Land For Sale
·
18.52 AC
INVESTMENT HIGHLIGHTS
- Project visibility from I-85 and 2-mile away from 68 exit and Macy's distribution center.
PROPERTY FACTS
| Property Type | Land | Proposed Use | Apartment Units |
| Property Subtype | Residential | Total Lot Size | 18.52 AC |
| Zoning | R-M/CZ - Currently zoned and fully entitled for 288 units. | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Apartment Units |
| Total Lot Size | 18.52 AC |
| Zoning | R-M/CZ - Currently zoned and fully entitled for 288 units. |
DESCRIPTION
Introducing a fully entitled, shovel-ready multifamily development site spanning approximately 18 acres, strategically located just off Exit 68 along the high-growth I-85 corridor. This project is approved for 288 units and offers immediate development potential in one of the region’s most active industrial and logistics hubs. The current permit set features a well-balanced unit mix, with approximately 30% one-bedroom/one-bath units and 70% two-bedroom/two-bath units — ideally suited to meet the housing needs of a growing local workforce. Effective rental rates in the area are averaging around $1.45 per square foot, indicating strong income potential for future development. The site boasts excellent visibility from I-85 and convenient access, making it highly attractive for future residents and investors alike. A 100-foot railway buffer and an additional 25-foot setback from the planned buildings provide thoughtful site planning and added tenant comfort. Surrounding the property are several major industrial developments currently under construction (Macy's, Chick-Fil-A distribution center, General RV center), driving significant demand for quality rental housing in the immediate area. With strong fundamentals and limited supply, this location presents a compelling opportunity to deliver much-needed multifamily product in a high-demand submarket.
