Prime Development Opportunity in Woodruff, SC 123 Acres of Potential in Spartanburg County Location: Woodruff, SC, Spartanburg County Acreage: 123 acres (with possibility of an additional tract) Road Frontage - 1900 linear feet Are you looking for a prime location to develop a new housing community? Look no further than this expansive 123-acre parcel in the rapidly growing area of Woodruff, South Carolina. This land offers endless possibilities for both multi-family and single-family housing developments. Key Features: Future Sewer Availability: Currently, sewer is not available, but the city of Woodruff estimates sewer access within 2 years, enhancing the development potential of this land. Proximity to Major Developments: In October 2022, BMW Group announced plans to build a $700 million high-voltage battery assembly facility off State Highway 101, which will bring significant growth and economic activity to the area. Educational Investments: The rapid growth in Woodruff has prompted the approval of a $100 million bond referendum for a new high school, demonstrating the community's commitment to education and future development. Economic Growth: Conversations with economic development leaders highlight that BMW’s substantial investment and the community’s support for educational infrastructure will attract additional companies and individuals to the area, making this land a strategic investment for developers. No Zoning Restrictions: - Currently, there are no zoning restrictions on this property, offering flexibility for developers to design their ideal community. Expansion Potential: An adjacent tract of land may be an option providing an even greater opportunity for large-scale development projects. This is a rare opportunity to invest in a flourishing area with significant growth potential. Don’t miss out on the chance to develop a premier residential community in Woodruff, SC. Contact us today to learn more and to schedule a tour of the property.
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William Raveis Mortgage, LLC
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Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,440,000 | $1,440,000 | $1,440,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.762% | 6.850% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,220 | $9,220 | $12,643 |
Total Monthly Payment | $9,345 | $9,345 | $12,768 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.