Louis Smith sold 22.1 acres of commercial land at 3600 Pleasant Grove Church Road in Morrisville, NC, to King Investment Properties LLC for $2.22 million, or roughly $100,000 an acre.
The acreage is in Wake County and zoned PEC- planned employment center. The proposed use of the land is industrial, however there are no utilities to site and no approvals at the time of sale.
Tom Colhoun of Colhoun Real Estate LLC represented the seller in the transaction. The buyer was self-represented.
For more information, please refer to CoStar COMPS #1547478.