Prime Development Opportunity: 20.83 Acres Approved for 185 Townhomes in Greensboro, NC Dear Prospective Buyer, We are pleased to present an exceptional investment opportunity at 3607 and 3609 Summit Avenue, Greensboro, NC 27405. This expansive property encompasses approximately 20.83 acres across two separate parcels and has recently received zoning approval for the development of 185 townhomes, making it an ideal venture for developers and investors. Key Features: Size & Composition: The combined acreage offers ample space for a substantial residential community, with zoning approval already secured for 185 townhome units. Strategic Location: Situated on Summit Avenue, the property provides convenient access to major thoroughfares, ensuring ease of commute to downtown Greensboro and surrounding areas. Development Potential: With zoning approval in place, the groundwork has been laid for a lucrative residential project, streamlining the development process and reducing initial hurdles. Market Appeal: The Greensboro area continues to experience growth, with a demand for quality housing options. This development is poised to attract a diverse range of potential homeowners and tenants. Financial Details: Asking Price: $1,700,000 MLS Number: 10068113 This property represents a rare opportunity to capitalize on a pre-approved residential development in a thriving market. We invite you to explore the potential of 3607 and 3609 Summit Avenue and envision the possibilities it holds. For more information or to schedule a site visit, please contact us at your earliest convenience. Sincerely, Felix A. Lee, Broker, (919) 730-4483, email Felix.Lee@BHHSYSU.com, Berkshire Hathaway Home Services York Simpson Underwood Realty Data last updated: December 28, 2024. REZONING LETTER: September 30, 2024 Marc Isaacson for Marcus Bullock on behalf of Kevin D. Peters and 3609 Summit Ave LLC Attn: Marc Isaacson 804 Green Valley Road, Suite 200 Greensboro, NC 27408 Dear Mr. Isaacson: This letter is to acknowledge that at their September 16, 2024 meeting, the Greensboro Planning and Zoning Commission approved the rezoning request for the properties identified as 3607 and 3609 Summit Avenue, generally described as west of Summit Avenue and north of Cherry Lane from R-5 (Residential Single-family - 5) and CD-RM-8 (Conditional District - Residential Multi-family - 8) to CD-RM-12 (Conditional District - Residential Multi-family - 12) with the following conditions: 1. Permitted uses shall be limited to: Single-family Dwellings; Duplexes; Traditional Houses; Townhouses and Twin Homes. 2. Development shall be limited to 185 dwelling units. Please note that this approved zoning change only addresses allowed uses for these properties. Site plans (including subdivisions of land), building permits, grading permits, sign permits, utility plans and/or tree removals require separate reviews and approvals from the City before any work can begin. If you have any questions, please contact me. Sincerely, Mike Kirkman, AICP, CZO Zoning Administrator City of Greensboro