Willow Lane Planned Development
McDonough, GA
Executive Summary

Table of Contents

Features

The Opportunity: 64.57+/- acre assemblage is located east of the Interstate 75, Jonesboro Road exit on both sides of newly constructed Willow Lane Extension. Willow Lane is a 100-foot right of way serving as the eastern arterial to the Interstate 75 corridor. There is an installed traffic light at the intersection of Willow Lane where it crosses Jonesboro Road, changing name to Oak Ridge Road.


Location: With McDonough, the Henry County seat, to the east, Interstate 75 to the west, Eagles Landing, the highest average income zip code in Henry County, to the north and the major shopping center of Henry (South Pointe) to the south, this parcel offers explosive growth potential.


Neighborhood: Kelly Plantation, to the south and east of the subject property, is a Planned Development containing a mixture of commercial, high density (16 dwelling units per acre), and single-family uses. Jonesboro Road is a major commercial corridor connecting McDonough to I-75.


Size: 64.57+/- acre parcel divided by Willow Lane.
TRACT 1: East of Willow totals of 35.49+/- acres of which 18.65+/- acres are fully developable and 16.84+/- acres are in the Birch Creek flood plain.

TRACT 2: West of Willow totals 15.68+/- acres of which 12.68+/- acres are fully developable and 3.0+/- acres are in the Birch Creek flood plain.

TRACT 3: West of Willow Fronting Jonesboro totals 11.53+/- acres of fully developable land.

TRACT 3A: Corner of Jonesboro and Mt Carmel totals 1.87+/- acres, which is fully developable. (NOTE: the owner is in the process of acquiring an additional .5+/- acre of surplus land from the Henry County DOT left over from the realignment of the Mt. Carmel/ Jonesboro intersection project).


Zoning: The sellers are currently in the process of having the property rezoned to Planned Development (PD) consisting of a mix of Multifamily and Commercial (C-2) components.


Access & Visibility: Assemblage offers 626.28+/- feet of frontage on Jonesboro Road, 311.27+/- feet of frontage on Mt. Carmel Road, and 2049.84+/- feet of frontage on Willow Lane.

Utilities: Sewer and all other utilities are installed with underground utilities along Willow Lane.

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Tax Plat

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Aerial Photograph

Aerial

Area Aerial

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Topo Map

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Map & Location

 

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360º Overview

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Not available for this property

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Price & Terms

Offering Price:

The sellers are open to two different purchase options:

A. Fully Zoned to be sold by individual parcels: Sellers continue through with the complete rezoning for Planned Development (PD) with the following usages:

a. Tract 1, 35.49 Acres: Multi-Family (16 DUA) $2,984,000 ($ 84,080/ac)
b. Tract 2, 15.68 Acres: Mixed Use (Office/ Retail) $3,170,000 ($202,168/ac)
c. Tract 3 & 3A, 13.3 Acres: Commercial Corner $5,360,000 ($400,000/ac)
Total of Individual Sales
$11,514,000

B. Fully Zoned to be sold to one developer buyer: $8,635,500

Comparable sales to Tract 3 & 3A at the lighted intersection of Jonesboro and Willow indicate a price of $400,000/ acre. For Tract 2 a value of $250,000/ acre is indicated, and Tract 1 the high density residential comparables show $160,000/ acre.

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Further Details

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