800 Acres on Highway 70 East and Highway 101, Beaufort, NC
$7,500,000
PROPERTY NARRATIVE
WYSOCKING PROPERTY
BEAUFORT, NC 28516
Property Description / Location
This property is an 800 acre parcel located in Carteret County, NC, north of the Town of Beaufort. The tract is divided into approximately 340 acres of farmland, approximately 320 acres of woodland and the remaining approximately 140 acres tidal salt marsh.
The property is owned by Wysocking Wildlife Sanctuary, Inc. (herein afterwards referred to as Wysocking), a 501(c) (3) non-profit organization dedicated to the preservation of wildlife. Wysocking has been in operation since 2007 and is based in Englehard, NC. Wysocking has conservation land assets in Hyde County that are valued at over $10M. This asset is being liquidated in favor of their core conservation land assets in Hyde County. This tract is not encumbered by any owner enacted conservation easements.
The property is currently under Carteret County jurisdiction and is currently zoned R15M. This zoning classification allows residential development on 15,000 SF lots where water and sewer are available. Public water is available in area of the property, however, the property is not currently served by sewer. If development is proposed on septic tanks that requires 20,000 SF lots.
East Carteret High School abuts the property to the south. The high school is served by sewer service from the Town of Beaufort. New owners could approach the Town of Beaufort with a voluntary annexation for sewer services. The property could also likely support a waste water infiltration system based on ponds and lakes if a site-specific waste water treatment system is desired.
Soils are predominately classified as fine sandy loam consistency, with Deloss, Araphoe and Tomotley being the dominant map units of the parcel. The tract also has an AE (EL 9) flood zone classification on portions of the property.
Community Environment
The Town of Beaufort was incorporated in 1723 and is the forth oldest Town in North Carolina. It is the county seat of Carteret County. Beaufort is a historical seaport and capitalizes on that unique history, with waterfront marinas and seafaring cultural celebrations. The Town of Beaufort has the Michael J. Smith Airport, the NC Maritime Museum, a premier waterfront hotel, in addition to high-end shopping and other amenities. These venues are attracting an affluent clientele seeking the laid-back, relaxed Beaufort lifestyle.
The Town of Beaufort is the elder entity in a closely connected group of cities and communities that include the Town of Morehead City, Atlantic Beach, Pine Knoll Shores, Salter Path, Emerald Isle and the Town of Newport. The Town of Morehead City is home to one of the two NC State Ports and hosts the hugely popular Big Rock Blue Marlin Tournament in the early summer of each year. The Town of Atlantic Beach, Pine Knoll Shores, Salter Path and Emerald Isle are oceanfront vacation spots. Atlantic Beach is also the home of the historical Fort Macon State Park overlooking Beaufort Inlet.
Beaufort is undergoing a development renaissance, with comparable properties commanding significantly higher values than similar properties in neighboring communities. Numerous deadwood properties are being redeveloped with new designs that give nod to the characteristic indigenous Beaufort architecture, and a measurable preference is being shown by buyers for the 28516 zip code.
Transportation
Highway 101 abuts the tract on the west and Highway 70 abuts the parcel to the southeast. Highway 70 is the only route serving the Down East communities. Highway 70 is the preferred route to the Town of Beaufort at this time.
Currently, Highway 70 enters the county from the west and is routed through Morehead City. The entry into Beaufort is from the Morehead City/Beaufort Causeway, over the Newport River and Grayden Paul Bridges.
The subject property anchors the entrance to the Down East fishing communities of Bettie, Otway, Gloucester, Straits, Harkers Island, Marshalberg, Smyrna, Williston, Davis, Stacy, Sea Level, and Atlantic, eventually terminating with the community of Cedar Island at the Cedar Island to Ocracoke Ferry Terminal. Down East includes historical Cape Lookout, with it's lighthouse and beaches, and Core Sound, with it's hunting, fishing and sporting activities.
The Outer Banks Scenic Byway designation begins adjacent to the property and includes all the major roads of the Down East communities. The Outer Banks Scenic Byway extends from here up the Outer Banks to Whalebone Junction in Nags Head on the Outer Banks of Dare County.
The NC Department of Transportation recently completed the Beaufort By-Pass Project that included the construction of the Grayden Paul Bridge and approximately 3 miles of four-lane highway around the Town of Beaufort. This is part of a transportation network planned for several years to improve the Morehead City State Port connection to major transportation arteries of the State. Other major improvements being implemented pursuant to this transportation plan are the Goldsboro By-Pass (recently completed), the Havelock By-Pass (currently under construction), and other significant highway modifications at Smithfield and New Bern are underway.
Conclusion
The subject property, with this vast amount of acreage, presents a unique opportunity for a diverse development plan including commercial, single-family residential, multi-family residential, retirement, institutional and recreational components. Being a single tract of significant acreage, the opportunity extends to creating a unique, themed, destination community that takes full advantage of the coastal setting.
Disclosure
This information is deemed to be reliable but is not guaranteed. Transportation plans are subject to change and highway projects are dependent on political decisions and funding availability.