loading
reading
writing
saving
searching
$350,000 Investor-Builder-Developer 12 Lot Package (Accomac)
Heron Way, Accomac, Va, VA 23301
Heron Way near Bayly's Neck Road
QR Code Link to This Post
There is an existing house on what became Lot 7 and that lot was sold at that time and not included in this package. The property is fully developed with a private paved road, conventional well & septic approvals for each lot, extensive landscaping, large community dock on Metompkin Bay. With multiple much larger 100 lot+ developments and the original developer decided to land-bank the project for a later time. Lots don’t receive a 911 address until a home is built, but the address for the existing home on Lot 7 (not included in package is) 26249 Bayly’s Neck Road, Accomac, Virginia.
Development amenities: There is a nature walk that leads to Parker Creek with the concept being that perhaps the owners would like a community dock on the channel. There is also a large 520’ long community dock with a t-head at the end and has mooring piles along its southern edge. This dock is located directly on Metompkin Bay and overlooks the Cedar Island and the ocean inlet in the distance.
Additionally, on Cedar Island there is a 5 acre recreation parcel owned by the HOA that is direct sandy beach oceanfront that serves as a private beach for the development. Cedar Island is an amazing oceanfront island that is 7 miles long and most of the island is now preserved as a Federal Wildlife Refuge. Access to the island is by private boat only with a protected channel that leads directly to the back of the lot.
The price for the entire turn-key package is $350,000 as a wholesale package. The price is less than just the cost of the private road at today's prices. The current owner retired to South Florida last year, hence the price, you won’t find a better value!
Holding costs: To maintain the lots and keep the development looking good there is an existing annual contract to mow the grass area 10 time a season at a cost of $120 a mow and $1,200 for the season. Accomack County has very reasonable real estate taxes and the total annual tax bill for all 12 lots is under $2,500.