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The Opportunity: A 23.5+/- acre lake anchors this 147.68+/- acre assemblage.
Location: The subject property is located midway between the City of McDonough and the City of Locust Grove just east of US 41.
Neighborhood:The adjacent properties are largely being developed as $180,000 to $300,000 single-family homes.
Size: The 147.68+/- acres are irregularly shaped. Due to the narrowness of the parcel connecting Coan Drive, it is only useable as a street. Parcel 50, which connects the property to Rabbit Run, an unpaved road, is also too limited to efficiently add a street with lots on both sides. Additionally, the portion of the property north of the lake is effectively cut off from the remainder of the property and would require a separate entrance off Iris Lake. All these pose problems, which drive up the development costs at the expense of value to the landowner.
The deep valley which cuts through the property also hinders the potential of the property and will require either a bridge to connect the major portion of the property on the east side
Zoning: The Henry County Future Land Use Plan calls for Medium Density (2.0- 3.6 dwelling units per acre). However, without sewer availability, Henry requires lots a minimum of 30,000 square feet
Access & Visibility: Easy access to Interstate 75 almost equidistant between Highway 155 exit to the north and Bill Garner exit to the south. Major arterial road access is available via Iris Lake and Coan Roads and it’s John R. Williams Parkway extension to US 41.
Utilities:The only existing sewer service is a lift station located on the grounds of the new elementary school on Coan Road. Unfortunately, that lift station only serves the portion of the subject property above the 792-foot contour line, or thirty acres more or less.
Developable Acreage: Due to the above detailed restraints and the deep gorge dividing the property, we estimate that only 110 acres+/- are fully developable.
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