1901 I 587, Greenville, NC 27834 (MLS# 100576174)

1901 I 587, Greenville, NC 27834

$120,000

Property Type: Land Lot Size (sq. ft.): 1,655,280 Status: Active

Current Price: $120,000 List Date: 5/22/2026 Last Modified: 6/11/2026

Overview

Description

Parcel 23817 contains +/- 38 acres (per my measurement of the aerial tax map) of woodland on the north and the south side of the I 587 corridor. The acreage on the north side of the I 587 W corridor has access via Silas Lane, a gravel private right of way, and is in the Greenville ETJ. It is zoned RA 20 for low density residential use. The property owner reports the cell tower has been purchased by Crown Castle Towers 09, LLC and the site is no longer leased. The south side contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. The most recent lease renewal became effective on June 17, 2019 for a 10-year term. The lease specifies an automatic 10-year renewal at the same terms and conditions. Thus, the lease is relatively long-term with approximately 14 years remaining on the term. Owner reports that the annual rent is $2,000. No rent escalations are specified in the lease agreement. The Lessee has the Right of First R ... (Read more) Parcel 23817 contains +/- 38 acres (per my measurement of the aerial tax map) of woodland on the north and the south side of the I 587 corridor. The acreage on the north side of the I 587 W corridor has access via Silas Lane, a gravel private right of way, and is in the Greenville ETJ. It is zoned RA 20 for low density residential use. The property owner reports the cell tower has been purchased by Crown Castle Towers 09, LLC and the site is no longer leased. The south side contains a billboard that is leased to the Lamar Companies. The billboard site will most likely be purchased by the Lessee. The most recent lease renewal became effective on June 17, 2019 for a 10-year term. The lease specifies an automatic 10-year renewal at the same terms and conditions. Thus, the lease is relatively long-term with approximately 14 years remaining on the term. Owner reports that the annual rent is $2,000. No rent escalations are specified in the lease agreement. The Lessee has the Right of First Refusal to purchase the billboard site if the Lessor elects to sell the property. The Lessee also has the right to purchase a perpetual easement for the billboard site for 6 times the annual rent or $12,000 if the Lessor opts to sell the property. The Lessee also has the right to terminate the lease at lease at any time by providing written notice. Nevertheless, the lease is expected to be renewed for the foreseeable future. The value of this lease is calculated by discounting the income stream to present value. A 6% discount rate is used in this analysis since this rate appears to be appropriate in the current market. The present value factor for an ordinary level annuity at a 6% discount rate for a 14-year term is 9.294984. Thus, the present value of the $2,000 annual income stream is $18,589.97. The legal description is outdated as well as the acreage for the property on the county tax site from where I 587 passed through decades ago. It will be the buyer's responsibility to obtain a survey for title insurance.

Listing Details MLS# 100576174

Contract Info

Delayed Marketing?: No
Marketing Start Date: 2026-05-22
Sub-Type: Residential Lot
Listing Price: 120000
List Price/Acre: 3157.89
Stipulation of Sale: Standard

Location Information

Street #: 1901
Street Name: I 587
County: Pitt
State/Province: NC
Zip Code: 27834
City Limits: No
Marketing City: Greenville
Subdivision: Not In Subdivision
Secondary Subdivision: N/A

Remarks and Showing

Directions to Property: For the north side, you would take a dight on Evans St, left on Dickinson Ave, right on Spring Forest Rd, left on Silas Ln, Land is behind the cellphone tower. For the south side you would take a right on Evans St, left on Dickinson Ave, right on Spring Forest Rd, Continue on Mozingo road turn left onto I587 W the land will be on the right side.
Sign on Property: No

Property Exterior Info

Acres - Total: 38
Lot SqFt: 1655280
Total Road Frontage: 3004
Waterfront: No
Waterview: No
Location Type: Mainland
Horses Y/N: No

Legal and Taxes

Tax Assessed Value: 86450
Deed Book: 4049
Deed Page: 389
Legal: Refer to deed and remarks.
Broker Owner: No
PID: 4658306334
Tax Identifier: 023817
Plat Book: N/A
Plat Page: N/A
Special Assessments: N/A
Tax Year: 2025
Zoning: Residential
HOA: No
Cobra Zone: No
School District: Pitt County Schools
Elementary School: Falkland Elementary School
Middle School: Farmville Middle School
High School: Farmville Central High School

Current Use

Vacant: Yes

More Information

Bldgs on Property

None: Yes

Soil Evaluation

Soil Evaluation - No: Yes

Topography

Cleared/Partial: Yes

Lot Water Features

None: Yes

Terms

Cash: Yes
Conventional: Yes

Fencing

None: Yes

Fuel Tank

None: Yes

Environmental Hazard

Unknown: Yes

Lot Description

See Remarks: Yes

Road Type/Frontage

Private Road: Yes
Easement: Yes

Utilities

None: Yes

Sewer

None: Yes

Water Source

None: Yes

Property Features

Current Use: Vacant Bldgs on Property: None Soil Evaluation: Soil Evaluation - No Topography: Cleared/Partial Fencing: None Fuel Tank: None Environmental Hazard: Unknown Utilities: None Sewer: None Water Source: None Lot Water Features: None Terms: Cash; Conventional

IDX

Listing Office: Berkshire Hathaway HomeServices Prime Properties

Last Updated: June - 11 - 2026

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1901 I 587, Greenville, NC 27834 (MLS# 100576174)