Multi-Family
Ketchie Estates Townhome Development
Ketchie Estates Rd, China Grove, NC 28023
Listing Price: $3,360,000
Investment Overview
Marcus & Millichap is pleased to present Ketchie Estates, a 23.66-acre entitled townhome development at 0 Ketchie Estates Road in China Grove, North Carolina. The site is fully entitled and approved for 106 townhome units (the final yield after all setbacks) under RM-CU zoning, with a complete civil engineering package prepared by CEC Surveying & Landscape Architects.
The offering delivers a developer a de-risked path to vertical construction: layout, grading, landscape, and environmental work are complete, and the parcel is served by municipal water and sewer. The program contemplates a flexible ~70% two-bedroom / 30% three-bedroom mix of 1,400 to 1,700 SF, three-story townhomes with alley-loaded garages, a product format absorbing strongly across the Charlotte region.
With roughly 1,300 feet of frontage on I-85 and Ketchie Estates Road, and a position within a federal Opportunity Zone, the site captures household formation from one of the fastest-growing metros in the United States while holding a land basis far below comparable in-market trades. The site also sits directly across I-85 from Macy’s new $584 million, 1.4 million SF fulfillment center, a facility ramping toward roughly 2,800 jobs and driving near-term rooftop demand in the immediate submarket.
Ketchie Estates Townhome Development
Investment Highlights
- Opportunity Zone Tax Advantages: The parcel lies within a designated Qualified Opportunity Zone, offering potential federal capital-gains tax deferral and reduction for qualifying investment.
- Public Utilities in Place: Served by Salisbury-Rowan Utilities (water & sewer), Duke Energy (electric), and Enbridge Gas, with no septic or well constraints to underwrite.
- ±1,300' Frontage on I-85: Roughly 1,300 feet of frontage along I-85 and Ketchie Estates Road on the Charlotte to Salisbury spine, minutes from Kannapolis and the NC Research Campus.
- $31,698 / Door Land Basis: Priced well below the regional median land value of $126,068 per unit and competitive with recent China Grove townhome land trades, with strong residual margin against $120 to $140/SF vertical costs.
- Macy's Fulfillment Center Across I-85: 1.4M SF, $584M facility directly across the interstate, ramping toward ~2,800 jobs. Macy's largest US center and the largest job announcement in Rowan County history, creating immediate rooftop demand.
- Fully Entitled & Approved · 106 Units: Complete approved plan (cover, elevations, environmental survey, existing conditions, layout, grading, and landscape) prepared by CEC. Buyer acquires a shovel-ready, fully de-risked entitlement basis.
Exclusively Listed By
Listing Price: $3,360,000
Investment Highlights
- Opportunity Zone Tax Advantages: The parcel lies within a designated Qualified Opportunity Zone, offering potential federal capital-gains tax deferral and reduction for qualifying investment.
- Public Utilities in Place: Served by Salisbury-Rowan Utilities (water & sewer), Duke Energy (electric), and Enbridge Gas, with no septic or well constraints to underwrite.
- ±1,300' Frontage on I-85: Roughly 1,300 feet of frontage along I-85 and Ketchie Estates Road on the Charlotte to Salisbury spine, minutes from Kannapolis and the NC Research Campus.
- $31,698 / Door Land Basis: Priced well below the regional median land value of $126,068 per unit and competitive with recent China Grove townhome land trades, with strong residual margin against $120 to $140/SF vertical costs.
- Macy's Fulfillment Center Across I-85: 1.4M SF, $584M facility directly across the interstate, ramping toward ~2,800 jobs. Macy's largest US center and the largest job announcement in Rowan County history, creating immediate rooftop demand.
- Fully Entitled & Approved · 106 Units: Complete approved plan (cover, elevations, environmental survey, existing conditions, layout, grading, and landscape) prepared by CEC. Buyer acquires a shovel-ready, fully de-risked entitlement basis.
Investment Overview
Marcus & Millichap is pleased to present Ketchie Estates, a 23.66-acre entitled townhome development at 0 Ketchie Estates Road in China Grove, North Carolina. The site is fully entitled and approved for 106 townhome units (the final yield after all setbacks) under RM-CU zoning, with a complete civil engineering package prepared by CEC Surveying & Landscape Architects. The offering delivers a developer a de-risked path to vertical construction: layout, grading, landscape, and environmental work are complete, and the parcel is served by municipal water and sewer. The program contemplates a flexible ~70% two-bedroom / 30% three-bedroom mix of 1,400 to 1,700 SF, three-story townhomes with alley-loaded garages, a product format absorbing strongly across the Charlotte region. With roughly 1,300 feet of frontage on I-85 and Ketchie Estates Road, and a position within a federal Opportunity Zone, the site captures household formation from one of the fastest-growing metros in the United States while holding a land basis far below comparable in-market trades. The site also sits directly across I-85 from Macy’s new $584 million, 1.4 million SF fulfillment center, a facility ramping toward roughly 2,800 jobs and driving near-term rooftop demand in the immediate submarket.
Exclusively Listed By
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